The times. [volume] (Richmond, Va.) 1890-1903, 1892-06-08
TUE NICARAGUA CANAL CONVENTION.

HE NiiAhAb(A thNhtf WV ~ . 'O@'f
The st. Louis papers bring us full reports
Of what took place at the Nicaragua Canal
Convention held in that city last week. There
was a full attendance and the proceedings
were. in all respects, harmonious Two Viz
giniaus were given places on important COM
lnittees. Judge T. c. Minor was put on the
committee on resolutions and Alr. John Skel-
ton Williams WAS put on the executive COM
mittee. A letter was read from Senator John
4. Morgan. of Alabama from which we shall
make IN extract that brings very strongly be-
fore the mind the great importance OF this
undertaking. The Senator SAID.
'Ilwish their advice and instruction as SEN
ator and need il far more than they need my
advice or any information can give as TO the
feasibility. advantage and necessity II this
great work. Every man Of plain. practical
sense. in the United States. fuilylunderstands
that "A ship canal through the Isthmus OF Oar
len OF the largest possible capacity Is the pre-
eminent necessity Of our continent, our hem
isphere our people, our Government, the love
OF our prosperity. the commercial welfare OF
mankind and the peace OF the world. Mat
thew Maury. the seer and prophet OF tins age,
in all that relates TO the seas and oceans that
God has made as the highway OF nations, fol-
lowed and developed the suggestions OF Hum-
bOidt where he pointed out the reservoirs OF
waters IN Lakes Nicaragua and Managua as
the source OF true and safe power for passing
the great ships across the backbone OF the
COTdlileTas
The committee on resolutions in their re-
port state that Major +. {. button. Of the
United States army, made a report upon the
proposed route of the canal as late as March
Is. 1892. in which he says.
In conclusion. it remains for me to say
that ! am satisfied that the project OF the
company for canal IS entirely practicable,
within the estimates. and If the financial
means are forthcoming the result Is assured.
The committee report that the fair and
/ conservative estimated cost of the canal is
SS7 0s4, 176.'
Admiral Ammen. Of the United States navy
who. with General Humphreys, chief engi-
neer Of the army, has examined the proposed
route critically and in detail was invited to
| address the convention. IL answer 10 the
enquiry whether he had any doubts as to the
| practicabiiity OF getting the work done
within the estimates OF the engineers as a
commercial or business proposition he said
Il have no doubt whatever If the money is
expended intelhgenty and honestly. Since
| the work IS OF the utmost Importance 10 our
! mercantile interests and especially so as TO
| our military interests. ! think that Govern
| ment should specially favor the company uu-
dertaking the work"
The resolutions which were adopted by the
convention which We print elsewhere
as setting forth clearly and tersely the merits
Of the canal-requested Congress to give
financial assistance to the enterprise.
The matter is thus brought in very good
shape before the Congress of the United States
for action by that body The cost of the canal
is so great that It is not probable il can be
economically constructed without Govern
ment aid Should that aid be extended to il ?
| Under proper conditions We have no hesita-
ton in saying that it should be. 1t Is the
most important public work that has been
undertaken in any part of the world since
the completion OF the Suez canal, and. If
Government aid TO semi-priyate enterprises
can ever under any circumstances be justl-
fed, il is justiiable, indeed demanded, here.
The bill introduced by Mr. sherman into
the United States Senate last january con-
tains the true pr0ja for government aid to the
Nicaragua Canal Company This bill pro-
yices that the Government shall indorse
800. 900. GOO of the canal company per cent.
bonds, guaranteeing the principal aud in
terest. The bonds are to be secured by a
mortgage of the entire canal and all its pro-
perty. and the Government upon paying
| principal or interest Of the bonds IS 10 be-.
come subrogated 10 all of the rights of the
bondhoders against the canal and its fran
chises One hundred million dollars OF stock
is TO be issued by the company.
OF which the United States Govern
msnt IL to hold s7o.0oo,00o, which