The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-03-10
CANAL.

The commercial advantages whic
the completion of the Nicaragua cant
enterprise, are numerous and self-as
~sertive. For example, in the voyag'
between New York and San Francisc
we should effect Il saving of no less
distance than 10000 miles,a and economy Q
time means economy of money. Th,
valuable wheat and lumber products o
the Pacific slope would find a profitable
market in the east, from which they ar,
at present practically debarred by tn
exorbitant railroad rates Of the %transcon
@tinental roads, and the cost and delay o
the ocean journey round the south o
this vast continent. Under more favor
able circumstances it is not unreasonable
to believe that our coasting trade nigh
experience a desirable revival of vitality
and develop into something more thar
the present shadow of it's former self
The result would be that occupation
would be provided both for men ant
We ssels at seasons of the year when en-.
forced idleness is now the rule. The
ports of the western coasts Of Mexico
and South America would be brought
into closer and quicker intercourse with
our commercial centers in the east, and
a great increase in the value and inn
p~ortance of our business relations with
the peoples to the southwark would in
evitably follow.
From the political point of view as
well as the commercial one, the enter
prise is of national Importance to the
people of this country, In a matter
where our interests are so vitality at stake,
we could not afford to regard with either
Indifference Or complaisance the acqulsi-
ton of a preponderating influence IN the
affairs Of the canal by an outside and
possibly hostile power. 1t would not
only be that our commercial relations
might be seriously hampered by almost
prohibitive passage rates, but the event
of war would bring us face to face with
an intolerable burden. Beaconsfield's
sagacity has placed the controlling in
t1uence OF the Suez canal in the hands of
the British government. John Company
founded the beginnings OF the Indian
empire, and the possession of Hong
Kong is the key that dominates a vast
population in China. The Nicaragua
canal, in the possession of an unfriendly
power, would prove an everlasting thorn
in the side Of the American people.
1t is true that our presidents pro-
scribe enlangling alliances with foreign
states, and that we, as a people, have
never favored a policy of acquisition of
distant territory, or the incorporation of
remote interests with our own. Conse-
~quently, it seems to us that Grover
Cleveland was in the right when he
withdrew from the consideration of the
senate the treaty of December, 1884,
between this country and Nicaragua,
which provided for the m
structlon 10y the United States of
an i~nter-oceanic canal across the
territory of the. central republic.
But affairs have changed materially
since that time. In 1887 the republics
of Nicaragua and Costa RIGA, in their
desire for the completion of the work,
granted to the Maritime Canal company
of Nicaragua, a private association of
citizens of the United States, a ,conces-
sion OF the right to build a canal from
ocean to ocean. This company is ex-
pressly authorized to proceed with the
work and to seek the aid Of foreign
powers, especially that OF the United
States. Under this concession it be-
comes possible for the people of this
country to secure the controlling inter
est in the affairs of the canal, free from
the objections that existed under the
former treaty.
1t is in the financial aspects of the
question that the main interest centers.
That the scheme will go through sue
cessfully is merely a question of time.
But the revised estimates, which place
the cost of completion at a total sum of
one hundred million dollars, are based
upon the theory that the United States
government shall guarantee the bonds
and credit of the company. IL that
should fail the stock and bonds would
pass largely into European hands and
under European influence, and under
the most favorable circumstances the
cost would be not less than S25O,OOO 900.
and might extend to S%4O0,O00,0OO. The
result, of course, would be a %preponder-
ance of outside and possibly hostile in
tluence. and an increased rate to meet
increased expenditure. In return for a.
United States guarantee, it is provided
that seventy millions of the stock shall
be transferred to our government, with
power to vote at any meeting of the
company and with a proper representa-
ton on the board of directors. On this
basis, if it can be adhered to, we have
little doubt that the investment would
prove not only sagacious, but in course Of
time profitable. Our experience, how
ever, Of transcontinental roads leads lbs
to express some doubt Of the financial
part of the scheme. When once the
United States government had commit
ted itself definitely to the scheme, it
would not be beyond the bounds of
probability to find that the expense ac-
count would mount NV laanc and k,1nlo