The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1891-03-25

rock to be encountered in our excava-
lions. In fact, every point of detail
has been thoroughly worked ont. A
board Of eminent engineers, posses
sing no interest whatever in the
Canal, has been assembled, and after
months of careful consideration of
the finished plans and surveys, have
submitted their estimate of cost,
allowing in their calculations liberal
increases in the prices of labor, tools,
and material of all kinds.
1t is, therefore, safe to say that
the cost of this work is practically
established. Large percentages of
increase have been made, to allow
for all possible contingencies of
accident, while no reduction in cost
has been allowed for the improve
ment and added economy of the new
machinery constantly being perfected,
for excavating. dredging and the
building of breakwaters, jetties, and
bridges. There is no reasonable
probability that the cost OF the com
pleted work will exceed the estimate,
and it is quite likely that it will fall
much below it.
The financial question may, there
fore, be thus stated The canal can
be built, ready for use, with every
convenience, and of dimensions suit
able for the commerce of the whole
world, for one hundred million dol
lars, while the canal when completed
represents a property instantly worth
three hundred millions, and paying
5 percent interest on that amount
from the day of its completion.
1t has been my endeavor to avoid
possible eXaggeration, and for this
reason nothing has been said as to
the increase in the tonnage, which
will be direct result of the existence
of the canal. Not alone will the
vessels already plying, use it, but
the canal will build up traffic in
commodities which, up to the present,
have had no market, owing to their
distance from those fields which re-
quire them.
1t will be when the canal is open,
that we shall first learn how great is
the demand for the timber of Alaska,
for the guanos and nitrates of Peru
and Chill, and for many of the pro-
ducts of Japan and Northern China,
which now are prevented from reach
ing market by the long and costly
freight transportation which they
must undergo before reaching their
destinations. The fact was notice.
able when the Suez Canal was open
ed, and a glance at the map of the
world shows that the Suez Canal,
though of vast Importance, opened
communication only between sections
Of the world, while canal connect
ing the Atlantic and Pacific Oceans
may be said to establish communica-
ton between separate and distinct
commercial worlds. We may, there
fore, expect, with reason, that this
annual revenue of $50, 600, 000-net,
will rapidly increase, even with d.
minished tolls, to $50, 1000, 000-net,
after which, questions of increasing
the capacity of the canal or building
another one in another portion of the
lsthmus, may be considered.
Let us consider now the effect of a
finished Nicaragua Canal upon the
commerce of the Pacific and the
World.
And first let us repeat that this
canal will join two worlds of com
merce; the one being composed of
those countries and peoples which
front upon the Atlantic, and upon its
tributary seas, CULTS and rivers; the
other, those nations whose coasts
form the shores of the Pacific.
(To be Conttnued.)