, 1892-04-30
THE POLITICAL ASPECT OF THE
NICARAGUA CANAL.

AOuDAC " bGN"ONND 80 ~ " %P
written by two Of the foremost champions OF
the Nicaragua Canal-Ex Senator Warner
Miller, ofNew York, and Capt. W. l.. Merry,
of San francisco. 1t seems rather curious
that the Elk Senator and reputed statesman
should have discussed the commercial as
peCtB ofthe subject, leaving the political held
to his commercial c~onfrere, A perusal OF
the articles will show however, that nothing
has .een lost by this division of labour for
he ex- Senator has the happy faculty of hand
ling vast figures and complex calculations
with the facility, if not the &C curacy. OF o
fnancior, while the merchant and ma
vigator presents very clearly the political
situation from the American point OF view.
Leaving to another day the consideration OF
the views advanced by Mr.. Miller, a word or
two on the political side OF the question may
not be out ofpiace.
Captain Merry discusses the problem under
two phases in which it may be presented as
TO control-the constru ction of o canal with
American capital alone. and its construction
by foreign capital, or with q ~predomlnance
Of foreign 6spital in the stock and bondsof
the company. In the first instance there
would be inconte5table ground to support q
claim for American control which would
place the question beyond discussion or
dispute. In the second instance Capt. Merry
secs an element Of danger to the claim to
American control, for he believes that the ma
ton furnishing the capital would pass by ca
ny and natural steps from commercial supre-
macy to political domination of the new wa
ter way. We need make no apology for dis
senting from this view and broadly affirming
that the political control Of the canal would
properly remain in the hands of the country
granting the charter or act Of incorporation
under which the company operates and that
country would primarily be bound to protect
the rights and interests Of all stock. and bond
holders Of whatever nationality. The Suez
Canal is not . case in point, for the French
Government has always protested against
the English dominance in Egypt, although
perfectly willing to accept the principle Of
Joint control Of the canal. Other European
Governments have the same views, but Eng
Iish necessities and demands have hitherto
triumnhed over these mild assertions Of opin-
ion. English pretentions will no doubt yieldul-
timately to the pressure Of international judg-
mont and the matter be peaceably settled, but
in the meantime oil questions between the Ca
nal Company and the Egyptian government
ars in the hands Of French diplomatic a.
gents.
A considerable amount Of English capital
was employed in the construction of the Pa
mama Railroad, yet no English influence is
apparent in It's management, or the guarantee
for it's protection, except as that may be re-
qre5ted by the American lGo,ernment. The ac-
Iital stock Of chat company IS almost held in
France, yet the company IS American and will
remaia under American control SO long as its
American charter and organization be main
tanned Many Railroads IN the United States,
broweries, and all sorts Of industrial enterprises
are owned manly by syrdicafes. but the Aneri-
can charter creating them establishes their
nationality beyond the possibility Of interior
ence from the outside. We see no reason
why the same rule should not apply to Mica
ragua, so long as the Nicaragua Maritime
Canal Company does not deliberately set a.
aide by it's own act the advantages which
American Incorporation would confer. But
this is just what has been done, and any
claim to exclusive American control fnds it's
principal obstacle in the action Of the COM
pany and the Nicaragua and Costa Rica Gov
ernments. This phase of the question Cap
tain Merry ignores, but one or two facts will
establish the verify Of these observations.
Before the charter of the Nicaragua Mari
time Canal Company was obtained from the
Congress Of the United States, con ession for
Canallconstruction had been obtainedb promo
ters Of the enterprise from the Governments
Of Nicaragua and Costa Rica, and so far as the
EMPLOYED in these documents Is con.