The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-02-04
The Nicaragua Canal am

II looks very much as If the Nicaragua
canal would be built within the next six
years. and that the United States would be
the chief owner Of it and would therefore
control il. The bill that was reported by
the foreign affairs committee recently pro-
vides that the government shall purchase q
majority of the stock of the canal and shall
indorse the bonds Of the Nicaragua Canal
Company. Whether congress will pass this
bill or not is a question that is yet to be de-
termined, but there are good reasons for
thinking that it will. Senator Sherman,
in an interview a few days ago. said that
the leading members Of the foreign affairs
committee opposed the bill Among the
members who opposed it are Senators Ed
munds, Hoar, Evarts and Sherman, of the
republicans, and Senators Eustis and Nor
gan of the democrats.
The Nicaragua Canal Company did not ap-
proach congress with respect to the matter.
The foreign affairs committee submitted a
proposition to the company, and the COM
pany accepted it. The bill now pending in
the Senate is based upon that proposition.
The company has spent about $4,000, 600,
and work on the canal is being prosecuted
vigorously. The total cost Of the canal is
estimated at $50, 900, 900, but Senator Sher-
man thought it would be fully 100000, 900.
At that price, however, he declared the
canal would be good investment for the
government.
In Senator Sherman's opinion the canal
would be a far more important one than the
Suez canal The commerce of the west
coast of South America, he said, would
come almost due north to New York, and
the commerce Of California and Oregon.
and, in fact, of the whole Pacific coast
would pass through the canal Co the cities
of the Atlantic coast. And he had no
Asia would, TO a great extent take this
course.
With reference to the revenues Of the
canal, Senator Sherman said the commit
tee on foreign affairs reported that the
lowest tolls that would likely be imposed
upon tonnage would produce at least So, oO0,-
600 year, while the interest on guaranteed
bonds, for which the government would be
liable. would amount to about 100000.
If the government should get control of
the canal the work of constructing it would
be intrusted to United States engineers.
They would have plenty of money, and
would be instructed 20 complete the canal
within the shortest possible time. The aim
would be to have it open for commerce
several years before the completion of this
century.
The prospects for the early completion Of
the work are excellent There are no great
engineering difficulties in the way. The
large bar at the mouth of the harbor at
Greytown has already been deepened five
feet and the great dredging machines which
are now at work upon it will soon open a
channel into the harbor through which the
largest steamships can pass. The
heaviest work to be done is sixteen
miles inland from Greytown. At that
point there will have to be
cut two miles long and 141 feet deep
through soft volcanic rock. The dredging
machines can do the work on the rest of the
route.
To open a canal between the two oceans
within the next six years would be splen-
did achievement for this goyernment-an
achievement that would dazzle the ina gina
ton and appeal to the national pride. 1t
would be fitting work with which to close
the century.