Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1893-05-31
COST AND vALLG Or CANALS.

The Nicaragua Cut Likely to Be an EnOr-
mously Profitable Enterprise.
The Suez canal, with almost a hun
dred miles of continuous digging, cost
about 500, 900, 900; of this sum $50. 0OO,-
900 was wasted in interest, commits
sions, changes of location and bad
management. That canal has now a
traffic of nearly nine million tons an
nua1ly, and, according to the North
American Review, it must be speedily
enlarged to accommodate the com
merce that is crowding through it to
the western coast of the Pacific ocean.
The Nicaragua canal has twenty-nine
and a half miles of canal prism, or
axial line. OF this one-third is very
light dredging. The total length of
this transit from sea to sea is 16915
miles; of this line 1854 miles is slack
water navigation at an elevation of
ITO feet above the level of the sea.
This small lift is overcome by six locks
three on either side of the lake. The
entire cost of the canal ready for use,
as estimated by Mr.. Menocal, allowing
25 per cent. for contingencies, is $685.
S4,176. A board of five other great
engineers went over Mr.. Menocal's
measurements and estimates with
great care, and out of abundant eau
ton, and not because of any substan-
tial change in his figures, they added
to his estimate another 90 per cent. for
contingencies, and so changed his esti-
mate as to make the total cost of the
canal, ready for service, $S7, 799, $50.
It seems that this may be reasona-
bly, accepted as the outside cost of the
canal. But, if we run up the conjec-
tural cost to 100000 900, if built for
that sum, it must be the most valuable
property in the world of it's magni-
tude. The tonnage, annually, can
scarcely fall below that of the Suez
canal. 1t will gradually exceed that
| amount. If it is two-thirds as great as
that which passes through the st.
Mary's canal on the lakes it will equal
100000 tons. Who does not know
that it must be greater than the traffic
| supplied by so small an area of inland
| country? A just estimate would be
fixed, confidently, by the most careful
| and hesitating persons at 100000
tons per annum, to say nothing of in
| come from passengers, of whom
swarIns will emigrate to the Pacific
| coast. OF this estimate we could
place the tolls at the rate of 81 per ton,
and realize $9,ooo,Ooo per annum. Take
| So, 10000 of this sum for maintenance
| of the canal, which will not exceed
half that sum; 5000, 900 for interest
| on the bonded debt, and 5000, 900 for
4 the stockholders, and we will have a
result that should excite the cupidity
of the most grasping speculator. But
the true friend of the industrial and
commercial people will see in this re.
suit a saving to industry and com
J MERGE of more than one-ha1f the
charges for tonnage that are now
paid to the Suez canal If the United
States are the owners of $50, 900, 600 of
the 500, ZOO, 900 of the stock in this
canal, and if it is to cost 800, 600, ooC
to build 1t, the dividends on that
$s0,ooo,ooo of stock, employed in a
sinking fund and invested in the bonds
of the company, would pay the entire
cost of construction and the interest OF
the bonds in less than fifty years.