The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-12-30

was organized, six annual payments to the
American committee. The first payment
was 100000 francs. year following q
payment OF ]. 400. 600 francs was TO be made,
and subsequent pay yments of 1900. 600 francs
year for five years. Thus it was that
abont $500 900 was provided by the head
or the Panama canal scheme TO lnnuence
the people of the United States and their
government. Here was a corruption fund
that was capable OF accomplishing great
results. The organization OF the commit
tee was negotiated by New York kers-
The purpose was TO secure for the chair
man q distinguished American. whose
name would inspire confidence and lend
lustre to the Panama project. Inc nrst
chairman suggested was Gen. U. s. Grant
The position was rendered that distin-
guished citizen through the banking house
of g. w. Seligman 4 Co.. the annual conf
General was assured that the duties would
be light. General Grant saw through the
intentions of the COMMITTEES. friend or
General Grant Informed the writer that In
the course of conversation on the gu blcct
the General said he was not satisfied with
some things which he had seen and heard.
and did not view favorably the work done
in Washington by some of those associat-
ed with the committee"
Continuing, the article says that certain
public officials in the American committee
received S25.000 q year for their services.
The corruption which followed the oreani-
cation of the American committee and the
income of the hard earned money OF the
French subscribers to the canal company
are still foudly remembered at w ashIngton
by some of those who received some OF the
Doodle. A certain newspaper in New York
received liberal subsidy to favor the
canal Congressman were brlbed; indiyid-
nails who possessed influence were bribed
and the money of the French peasantry ran
like water at the national capital. An
article in the Financial News of London,
described the situation as follows:
1.-THE American syndicate is one Of the most
shameful corruption funds ever recorded in the
history OF financial enterprises. Imagiue this
expenditure of 44S0,000 so that few men I'm
New York might represent the company in
America, and when necessary cooperate with
II. To that fund Is due the success which NJ. De
Lesseps's invitation to the then Secretary OF the
Navy OF the United State to accept the presi-
dency OF the syndicate, and no respectable
costly fraud upon the shareholders OF the Pana-
ma Canal Company. These men are challenged
to show that they ever did anything for the
company, except to lend their names, 80 that in
Europe NJ. De Lesseps might say that America
was all right The attitude Of Congress was de-
cidedly nnfriendly when the committee was
formed. and the press quite generally was then
adverse to the canal under French control A
change soon occurred. When DE Lesseps re-
turned TO France he announced that the United
States favored his project. He claimed that he
had Iefuted all scientific objections to the Pana-
ma plan. and that the Americans have now rec
ogDized that the work to be undertaken has no
own benefit And Count De Lesseps naively
added: The full cooperation Of great and pow
erful American banking houses show results of
my trip to the United States"