The Russellville Democrat., 1892-11-03
PROFILE OF NICARAGUA CANAL.


 time we will be equally potent politically, With possession of this canal we control not [ only the commerce of South America. but have absolute political sway over the whole Western Hemisphere and all Europe com. bined cannot shake us from our position. When properly understood, the canal can meet with no rational opposition, except i from some of the great trans-continental | lines of railway. These naturally oppose it, and stimulate the opposition of those who do not understand the facts. The canal company obtained conces- sion from the governments of Nicaragua and Costa Rica, and obtained a charter l from our government in 1889. The com pany begun work the same year, and has already expended $6,000, 900.
 The accompanying map shows the posi- ton of the canal and the various routes to the different countries, also shows the Republic of Nicaragua with the location of the canal. The total length from ocean to ocean is little over 169 miles, but Lake Nicaragua is utilized for 100 m les, upon which no work is needed and about forty two miles of the San Juan river, which needs improvement only at certain points, and leaves only a little over twenty six miles to be excavated. The cost will be less than sl00, 900, 900, and will be com pleted in 1895.
 The company has never asked govern ment aid. In 1890 the committee on for eign relation, in the senate of the United States, upon its own motion examined the whole matter and unanimously reported that the canal ought not to be permitted to cost a sum exceeding sl00, 006,0 ,000, as a basis on which to levy taxation on com merce that will pass through it. That this sum cannot be raised by private loans, ex- cept at too great a sacrifice in interest and discounts, and by absorption of the stock of the company. That it is the duty of the government to so provide that the di- rection of affairs of the company should not pass into control of any but Ameri- oaus.
 A bill was introduced in the senate au. thorizing the government to guarantee the bonds at 1 per cent. provided s70, ,000 900 of stock of the company is issued to the secretary of the treasury of the United States to be held as upon opticn to be taken by the United States at any time be- fore maturity of the bonds, and authoriz- ing the secretary of the treasury to vote the $70, 000 900 of stock in the organiza- ton and control of the affairs of the com pany The bill provides further that no other stock should be issued except on sub seription. No member of the company could then receive stock except by paying for it. The government could hold the stock until the bonds approached maturity, aud if the project was a financial success, take the stock at the same rate the in- dividuals paid. If the receipts should not pay for the bonds, government would then take the canal.
 Senator Morgan, of Alabama, supported the bill in very able speech.
 From the experience of the Suez Canal and other lesser ship canals constructed since that one, there can be no question about the financial success of the enterprise. None has yet failed to pay, and the prospects of this one are infinitely greater than any other The Suez Canal cost sl00, ,000, 900, the same the Nicaragua Canal is estimated to cost. It's income has been $l2. 900, 000 per annum and last year was $i5, ,000, 900, The Snez Canal shortened the distance of industrial Europe to the far East and revolutionized the commerce of Europe. The effect of that canal on the commerce and the naval affairs of the world is insignificant as com pared with the effect of the uniting of the Atlantic and Pacific Oceans.
 Seas and oceans have been reserved by all civilized nations as national highways National control of these is necessary for the proie ton of international commerce and for the handling of nayies for public defence. When, by great artificial chan nels VIC connect oceans the artificial chan nel is no less a national highway than if natural. The necessity for national control of this is as great as the necessity for national control of oceans and seas them selves.
 If this canal should be constructed by money from abroad, without supervision and control of our government, some for