The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1892-01-23

of grain ships to the Atlantic ane
European ports" Having hobblec
: up to this point, the Examiner call,
Robber Sherman to its aid, anc
J shows by language quoted from tha
political mercenary that the cana
will pass under the control of riva
commercial nations if the subsidy
asked for is not granted, whose
Interests and fixed policy woulc
lead them to convert great high
way of nations into a dependency
more formidable than Gibraltar and
more troublesome than Canada"
To say that all of the above is the
very acme of absurdity is a mild
expression. Sd passing over the
total depravity of the reasoner who
would deliberately ignore the right
and wrong of the subject matter
under discussion, we will endeavor
to show that the Examiners pre-
misses are all assumed and falla.
cious. The reader will observe that
it is not contended that rates would
be cheapened by the construction
of the proposed canal, but only that
the distance would be shortened, and
it is asserted that shippers of grain
would be benefited by that circum-
stance. But everybody knows that
as grain is not perishable freight,
shippers are benefited by cheapness
of carriage and not by shortness of
! distance, which fact disposes of
that argument.
That the government could not
construct the canal as speedily as
could a private corporation is equal
ly far-fetched. Notwithstanding
the fact that the government is so
very busy with the diverse interests
of politics and administration, it
finds time to conduct the vast let
ter carrying business of the United
States a great deal better and much
cheaper than any private corpora
ton could or would do, TO say
nothing Of the army and navy, forti-
ications and other business success
fully and economically managed by
the government, and it could push
the Nicaragua canal quite as we'll.
1t is false pretense put forward by
the corporations for their own ben
eft, to pretend that the government
cannot manage business enterprises
successfully. The reverse is true.
The canal company has con-
cession for ten years that it cannot
be deprived of, and has expended
100000 in surveying. : Indeed?
But a concession for ten years, two
years of which has already elapsed,
is worthless to great enterprise
like that canal. No concession
should be accepted or considered,
even, that runs less than SO years,
because at the expiration Of the
time for which the cession was
granted a new cession must>be asked
and obtained: or, the canal is val
neless, being at the mercy of the
conceding governments which will
have learned its advantages and
their power by the expiration Of the
ten years and will not hesitate to
employ that power.to Cypress the
canal. Moreover the government
could easily purchase the rights
and franchises granted to the canal
company provided they have not
the means to do the work them
selves. Besides, there would be no
difficulty in contracting with sur
veyors any place to survey the en-
tire canal and harbor for $500, 900.
Again, the canal is already under
the control Of foreign governments,
as is admitted and proved by the
fact that the company asked and
received concessions, not from tho
United States, but from the govern
ments of Nicaragua and Costa RIGA.
These being non-commercial, and
only semi-ciyilized governments,
would inevitably resort to extortion
as soon as their ten years contract
with the company: terminated
whereas. were it in the hands Of a
commercial power, it would depend
for it's income upon tariffs on the
traffic Of the canal. These are the
expedients. The guarantee is equal
ly fiimsy and availless. OF the
500, 100000 subsidy to be granted
the canal company, $50, 900 900 are
to be transferred 10 the government,
thus giving it control and securing
it against loss" The government
as will be seen is simply to hold
this so, 1000, 900 worth Of shares in
lieu of a mortgage; but nobody is
soft enough to believe it would af-
ford any security against loss.
The government, remember, would
not own these shares nor derive a
cent of. profit from them, but would
merely hold them as collateral for
its guarantee, just as the we'll re-
membered first mortgages on the
y. P. and G. P. Roads were origin
ally held to secure the payment oil
money advanced to those corpora
tons. A scheme was devised bv
which Congress was induced to |
surrender those mortgages and tol