The sun., 1891-06-02

Our esteemed Republican contemporary.
the hess, publishes an account, suffused
with rosy light, Of the proposed Nicaragua
chip canal. Tho digging OF the great ditch
10 very simple matter. after all. It seems.
Engineer MENoCAL is as sanRiine as ever
about II. Only $40 oooo. 900 Of capital will be
required. The canal can be finished by 1907,
when there will be 10 900 900 tons Of tranic
''rUsdy to use II, estimating by tho natural
ipnrease Of the present commerce within It's
cludes that Americans should either build
n - . permanent investment, SO that for
. eign capital may not acquire control Of It
q, in the speculative maze Of Wall street, or
consent to such q guarantee OF It's securi-
: ties by the United States Government as
Win securo our national rights over It II
British capital is needed to build It,"
II the project is 80 simple and the pros
pectiys profits arc so attractive. surely
private capital can be procured. Tho canal
company Is an American enterprise.
private American enterprise. Evon II for
eign capital should be largely used in the
construction OF the canal. what would be
tho hsrm1 Why should the Government be
called In to prevent foreigners from invest
ing their money In an American canal any
moro than to prevent them from investing
In American cattle yards and breweries7 II
thoro is anything except q magnificent
programme and tho hope OF exploiting the
United States Treasury In tho canal COM
pany, 1t ought to be able to raiso American
money enough to keep controlling interest
In tho shares. The course Of the company
In asking for q Government guarantee
seems to indicate that the Government Is
the capitalist that the managers expect to
rely upon. 1t is convenient to have the
Government for partner, but the Govern
ment Is not we'll fitted to share in the work
Is sometimes o costly commodity. CO.
Much learning as to the CLAYToN-BuL-
NER treaty was displayed In the Senate last
year, and much more may be displayed next
year. There Is preliminary question to be
settled. however, and before this is settled
discussion aa to tho duties and obliga-
tions Of Great Britain and the United States
on the lsthmus, the proper reach Of the
MONROE doctrine, and the protection Of the
proposed canal. is not 80 necessary. Do the
American people desire that the Govern
ment shall guarantee the securities or In
any way seslst In the construction or u.s.
sumo any responsibility in connection with
the proposed Nicaragua ship canal1 It will
not do for Congress to commit the United
States TO the enterprise in advance Of q
strong public opinion In its favor.
In projects Of this kind the expense can
only be guessed At: and only one thing Is
certain. namely. that when tho Govern
rnent goes In for q penny, 1t will have to 20
in for pound. The fact must be taken
into account, too. that the expenses OF the
Government are already excessive. and tho
Democratic party. at least. will not be anx-
iops to put the Treasury In the way OF
spending an unknown number Of millions
upon an undertaking that cannot be truth
fully described as indispensable and that
might Involve us in serious complications
II private capital can be obtained go ahead.
Tho United States strives TO protect its citi-
'Dens when they are engaged In any lawful
enterprise In foreign countries: and that
would aaem to he the extent of the aid which
the Government should give to On inter-
oceanic canal company.