Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1892-10-06
rE-yrLE cF TIE
AtEaQAGIIA CANAL

Shipbuilding and the shipping interests
in New England will receive a new i'm
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 advantage 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 su-
premacy of the nation which might Sc
cure control of the canal demands i'm
peratively that it's 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 feet 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
a more commanding position than Glib
raltar.
Among the beneficial results foreseen
are a more practical drawing together
of the remote parts of the vast domain
of the world and tirmer cohesion of
the widely-separated sections of the
United States. added to a stronger feel
ing of neigh borhoOd and community
between the Atlantic and Pacific sea-
boards The contamination 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 Greytown
has been restored so that vessels of
fourteen feet draft have an easy en-
trance. Extensive wbarves, landing
places and permanent buildings have
been constructed. temporary camps
erected, telegraph line made, the
canal cleared of timber for twenty
miles, and railroad twelve miles in
length constructed and equipped. The
biggest dredging plant in America,
that formerly used at Panama, has
been purchased. and over a mile of the
canal has been dredged The exclusive
franchise for the steam navigation of
San Juan river and Lake Nicaragua
and an extensive plant for the naviga-
ton company have been acquired. The
government of Nicaragua has actnowl-
edged that the company has complied
with the canal grant, which provided
that $4,000. 900 must be expended the
first year. 1t is shown that the amount
of money spent to date on the enter
prise is over Sc, 600. 0oo The enterprise
is Endorsed by the leading business men
OF the country, and that it will be ju-
diciously and economically managed is
assured by the character of the board
OF directors, who, by the charter of the
company, are accountable to the gov
eminent of the United States The
secretary of the interior has the power
TO make public all the details of the
corporate management, thus protect
ing the investor against misuse of his
money.
The Suez canal. it is shown, saves