The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1893-05-26
ABOUT CANALS.
Some Interesting Statistics Regard
ing the Probable Success of the
Nicaragua Project.

some interesting Statistics Regard
ing the Probable Success of the
Nicaragua Project.
From the North American Reviewl
The Suez Canal, with almost a
hundred miles Of continuous dig
ging, cost about $100,000,000. OF
this sum $30,000,0O0 were wasted in
interest, commissions, changes of
location and bad management. That
canal has now traffic of 100000
tons annually, and it must be speedi-
ly enlarged to accommodate the
commerce that is crowding through
it to the western coast of the Pacific
Ocean. The Nicaragua Canal has
twenty-nine and 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 1904 miles;
OF this line 1851 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 Is percent for contingent
cies, is $65,OS4,176.
A Board of five other engineers
went over Mr.. Menocal's measure
ments and estimates with great care,
and out Of abundant caution, and
not because of any substantial
change in his figures, they added to
his estimate another 20 percent for
contingencies, and so changed his
estimate as to make the total cost of
the canal, ready for service, $S7, 1885,
$40.
1t seems that this may be reason
ably accepted as the outside cost of
the canal. But, if we run up the
conjectural cost to $1OO,OO0OO0, if
built for that sum, it must be the most
valuable property in the world of its
magnitude. The tonnage, annually,
can scarcely fall below that of the
Suez Canal. 1t will gradually ex-
coed 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 S9,OOO,OOO tons.
Who does not know that it must
be greater than the traffic supplied
by so small an area of inland coun-
try9 A just estimate would be fixed
confidently by the most careful and
unhesitating persons at 100000
tons per annum, to say nothing OF
income from passengers, of whom
swarms will emigrate to the Pacific
Coast. On this estimate we could
place the tolls at the rate of 81 per
ton and realize $9,0OO,OOO per an
mum.
Take 100000 of this sum for
maintenance of the canal, which will
not exceed half that sum; 100000
for interest ON the bonded debt, and
S3,OOO,OOO for the stockholders, and
we will have result that should ex-
cite the cupidity of the most grasp
ing Spectator. But the true friend
of the industrial and commercial
people will see in this result saw
ing to industry and commerce OF
more than one-half the charges for
tonnage that are now paid to the
Suez Canal.
If the United States is the owner
of SS0y0O0,OOO of the $1OOOOO,OOO OF
the stock in this canal, and if it is to
cost $10O,00O,0OO to build it, the
dividends on that $SO,OOOOOO OF
stock, employed in 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.