Los Angeles herald., 1892-11-27
Board of Education.
THE NEW ORLEANS NICARAGUA CON-
VRNTICN.

The approaching Nicaragua canal con-
vention at New Orleans will doubtless
be as impressive and influential body
as that which met at St. Louis early in
the summer. Under proper safeguards
this great work should be pushed
through. 1t is Of the fret importance
to the world, to the United States and,
above all things, to California. It will
not be safe to take MIR. Huntington's
off-hand judgment that the canal is not
needed. While the financial ideas OF
that gentleman are generally quite saga
cious, we are never cure OF getting his
real opinions IN any matters that con-
Germ his own personal interests. There
is no doubt that Democratic congress
will be extremely circumspect in con-
sidering any project that involves the
expenditure of the peoples money or
the assumption of any ultimate liability
which may devolve upon the national
treasury. This is perfectly right. Our
affairs for four years past have been run
at loose ends, and it is high time to call
a halt to the blowing in" extrave-
gance that has characterized the Hsrri-
son administration. But the United
States can vitslize the Nicaragua canal
project without any direct outays. All
that is asked is that the interest on the
bonds should be guaranteed. AS the
sum needed to construct the canal
is at the outside estimates only
one hundred millions of dollars, the
liability of this country is not, in any
event, likely to be large. In consider
ing this phase of the matter the fact
ought to be borne in mind that the con-
struction Of the canal would practically
double the efficiency of the navy of the
United States, and there are readily
supposabe coDjunctures in which the
ability to concentrate our whole naval
forces on the Atlantic or Pacific oceans
on a pinch would of itself be worth
many years OF an interest defalcatisn on
the part of the company. Three or four
years interest, at the outside, is in all
likelihood all that the national treasury
would be called upon to make good
under any circumstances. There is no
reasonable doubt but that the enter
prise as business proposition would be
as great success as the Suez canal.
AS to the effects of the building OF the
canal on California, they are really in
calculable. It's completion would place
this state ten thousand miles nearer
New York and Liverpool than we now
are. It would then be easy for the
immigrant to land in San Diego, San
Pedro, Redondo, Santa Monica and San
Francisco as at New York. 1t would be
much easier and cheaper for him to
reach the rich lands of California than
to 60 to Kansas, Nebraska or, indeed, to
any of the states west of the Allegheny
mountains. The markets for California
fruits and vegetables would be IN
definitely expanded. Development
would go forward on the coast at q
seven-league boots pace. Our genuine
era of progreSs would, in truth, only
just fairly begin.
The only real impediment to this
grand programme OF national and inter-
national and worldwide benefits is the
fear that this country might have to pay
$5,O00,000 year in defaulted interest
for a brief perio1. OF course the gov
ernment ought to be protected, and
Hon. Warner Miller, the president OF
the Nicaragua Canal company, said to
the st. Louis convention that for this
guarantee the corporation was willing to
allow the secretary of the treasury to
vote eeven.tenths of its stock. Right
here is an ample assurance against
fraud. If the Sherman bill does not
contain this provision new bill ought
to be introduced that will contain it.
The writer, who was one Of the dele