The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1892-10-08

Shipbuilding and the shipping interests
in New England will receive new inn
petus. A new coasting trade will
spring up and American tonnage on
the high seas will largely increase.
The committee says that great trans
atlantic powers are looking with COW
etous eyes toward the Nicaragua prof.
ect and that foreign governments would
very cheerfully and eagerly embrace an
opportunity to take advan tage of the
enterprise with unlimited capital and
prompt energy, but it conceives it to be
the patriotic and political privilege of
the United States to complete the ca
nal. The commercial and naval SUI
premacy of the nation which might Sc
cure control of the canal demands inn
peratively that its control should not
pass away from the people OF the United
States. 1t is made plain that two fleets
would be required to block an Amer
lean fleet in Nicaragua where one
would be necessary elsewhere. AS a
foothold from which to attack or de-
fend to threaten or protect all the
coasts, islands and adjacent seas, it is
more commanding position than Glib
raltar.
Among the beneficial results foreseen
are more practical drawing together
of the remote parts of the vast domain
of the world and firmer cohesion OF
the widely-separated sections of the
United States, added to a stronger feel
ing of neighborhood and community
between the Atlantic and Pacific sea.
boards. The consummation of the
work, whose feasibility has already
been demonstrated, is asserted to be OF
far greater Importance to the western
hemisphere than the Suez canal is to
the eastern. 1t is said that no prece.
dent can be cited upon which to pre-.
dict the future of American commerce
when the gateway of the Inter-Oceanic
canal across Nicaragua shall be open
| to it.
PRELIMINARY WORK ACCOMPLISHED.
All surveys and examination of strata
requiring removal have been com
pleted. The jetty has been con
structed and the harbor of Greytowr
has been restored so that vessels o1
fourteen feet draft have an easy en-
trance. Extensive wbarves, landing
places and permanent buildings have
been constructed, temporary camps
erected, a telegraph line made, the
canal cleared of timber for twenty
miles, and a railroad twelve miles il
length constructed and equipped The
biggest dredging plant in America,
that formerly used at Panama, has
been purchased, and over mile of the
canal has been dredged. The eXclusiv,
franchise for the steam navigation o
San Juan river and Lake Nicaragui
and an extensive plant for the naviga
tion company have been acquired. The
government of Nicaragua has acknowl
edged that the company has compiled
with the canal grant, which provided
that S2,000000 must be expended the
first year 1t is shown that the amoun
of money spent to date on the enter
prise is over So 900, 900. The enterprise
is indorsed by the leading business mel
of the country, and that it will be ju
diciously and economically managed il
assured by the character of the boarC
OF directors, who, by the charter of thu
company, are accountable to the gov
ernment of the United States. TIL,
secretary of the interior has the powe
10 make public all the details of th'
corporate management, thus protect
ing the investor against misuse of hi
money.
The SEez canal, it is shown, save