The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-07-12
UNCLE SAM MUSTN'T DO IT
AN UNWISE MOVE TO INDORSB
4 THE NICARAGUA CANAL BONDF.:


ciety Decides-The Reasons Why the
United States Should Not Af1x Its
Guarantee to the Canal Project.
The Literary Society of the Young Mems
Christian Association decided last night
that it would be unwfse for the United
States to indorse and guarantee the bonds
of the Nicaragua Canal Company. The
question was up for debate in the form of
resolution. Quite a number of people,
among them several ladies, sat in the gym
nasium hall for an hour aud half and lis
tened to the discussion of the merits OF both
sides of the important question.
Mr.. G.. w. Hines led the debate for the
affirmative. He heartily favored the in-
dorsement Of the bonds by the government,
because of the great advantages which
would accrue to the United States from the
completion Of the canal, which he pro-
nounced one of the grandest projects under
the sun. Politicians and statesmen OF all
shades of belief Endorsed the scheme, and
nature itself demands and makes 1t feasible
Mr. Hines argued that it would be ex-
ceedingly dangerous for the United States
to refuse to indorse and guarantee the
bonds, because English syndicates would
probably secure control of the canal
W bH0 VI blo OLibf
States. MIR. Hines laid great stress
on the fact that the building of the canal
would shorten the distance between the
United States and tho countries Of the Pa
oiAc, thus turning to this country the bulk
OF the trade which now goes to Europe
Another great advantage which the govern
ment should look at, ia Mr. Hines opinion,
would be its availability to America for the
quick transportation of troops in case Of
war with foreign power.
A SAVING IN TIME.
The building OF the canal would save
seven months Of the time no consumed in
going around the horn. In closing, Mr..
Hines quoted John Temple Graves indorse-
ment OF the scheme, which expresses the
advantages the United States would secure
in the elegant language for which the orator
and writer is noted.
Mr.. W. deBruyn Hops answered Mr.. Hines
on the negative side OF the debate. He
brought out clearly the disadvantages which
the United States would take to itself by
indorsing the bonds Of the canal company
Disadvantages, the speaker argued, which
offset the advantages which were claimed
In support Of the Endorsement. The scheme
Of the canal company people, he said, is to
get the government TO guarantee every
thing, and at the same time be allowed only
minority voice in the direction Of its
affairs. After giving the guarantee the
United States would have TO sit bywith hum
bic mien in case the canal company desired
to put tax on trade for the use of the
waterway beyond an equitable basis.
Mr.. Hops opposed the Endorsement of the
bonds Of any individual concern as uncon-
stitutional and undemocretic. 1t means
another form OF protection, which would
make every taxpayer contribute toward the
enriching Of she members Of the canal COM
peny without any appreciable return. he
l1AN k.k ,ARk,
ment in indorsing the bonds Of the Pacific
railroads, which never have reimbursed the
| government and probably never will.
BETTER GIVE IT TO SAVANNAH
In closing Mr.. Hops made a hit which Sc
cured him generous applause. He said that
| instead of the government spending It's
| money in helping out individual enterprises
| Of other countries it should devote its sur
| plus to the work Of improving Savannah's
harbor.
j. Ferris Cam, Esq, concluded for the
affirmative with strong statistical plea in
! favor OF the governments Endorsement of
! the bonds. Public policy, he claimed. de-
mands the recognition of the scheme by
! the United States. In anything which helps
| the masses the government should not show
a mean spirit. The reasons for the phe-
nomenal growth of Americas commerce,
Mr.. Cam said, has been the liberal policy
4
ment of its waterways. He quoted figures
on the Erie and Sault Ste. Maria canals
which have proved of such vast benefit to
the western country.
The speaker dwelt at considerable length
on the shortening Of ocean distances by the
completion OF the Nicaragua camel and the
| wonderful development OF the trade for
this country which would surely result.
New York would be brought 200 miles
! closer to the Pacific country than
! Liverpool now is, and the trade
which goes to the latter place
in great volume would necessarily be turned
! to Americas metropolis. The southern
states would also be wonderfully benefited.
As protection to this country in case of
war the advantages, according to Mr.. CAMS
! ideas, would be inestimable. He closed as
| follows: "rhe construction of the Mica
rsgua canal is the one thing necessary to
bring to its final contamination thu COM
mercial supremacy which will make the
! United States the foremost nation Of the
! world"
THE DECIDING ARGUMENT.
The conclusion for the negative by W. B.
| Stubs, Esq, was the winning speech. For
half an hour he argued logically and con
vincingly against government indorse-
ment of what he termed a visionary
scheme in many respects. Mr.. Stubs had
! figures and authorities to sustain his posi-
tioD, ana showed deep ana c6r6TuI study or
the subject assigned to him. To his mind
the Nicaragua canal project lacks many
things necessary to prove it q feasible under
| taking. The failure OF the Panama canal
| scheme, he said. ought to be warning to
the lawmakers Of the country against COM
| promising the credit Of the greatest govern
| ment under the sun.
Mr.. Stubs quoted from the MORNING
NEWS editorial on the subject to sustain
bis claim that it would be an i'll advised
step on the part Of the government. 1t is a
! paper. he said, which was conservative and
| can always be used as an authority on
national affairs. The Endorsement by the
government, said Mr.. Stubs, is a scheme
| of Warner Miller to get the credit OF the
! United States Co fill the pockets OF the in
| corporators.
WHY 1T SHOULDN'T BE DONE.
Under the terms of the bill before con-
| gress, in the event of the project being sue
| cessful, the tncorporators OF the company
would get the bulk profits, and should fall
ure result, the United States, and nobody
| else, would be the loser.
| The projectors would spend the
| Sl00,000,000 Endorsement and then
! ask the government for an ex-
tension Of credit, which couldn't be refused
because the government would be commit
II