The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-12-16
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TUE NICARAGUA CANAL.
Senators Morgan and Frye Urge that IN
Government Take Control OF tho WORK.

| Government Take Control OF tho WORK.
WASHINGTON. Dec. 15.-There was full
meeting OF the House Commerce Committe,
to-day to consider the Nicaragua Canal ant
the duties OF the Government toward 1t.
Senators Frye and Morgan. who have made
| an exhaustive study Of tho matter. appeared al
the Getting at the request Of tho committee.
| Senator Frye insisted Mt the beginning tn al
the m ost troublesome difficulty that USUALLY
attends great enterprises Of this character wa:
obviated in the present case. All tho Other
| canal projects had been abandoned and
| moreover. because people generally believed
this route to be tho more feasible. He argued
that the Government could build the Nicaragua
Canal for 5000 900: that the bonds would
sell readily. while bearing an interest Of
only four per cent, and that interest
money and repairs would not exceed
S5.5OO.00O per annum. Government con-
troll would permit lowering Of ratios
to 81 n ton and n profit would result ut that
figure. 1t would cost the company 5000. 0OO.-
900 to build the canal. and bonds could not ba
floated for less than o per cent The annual
expense to the company would be ST.. 900 OOO
for interest and S2.OOO.000 additional for re-
pairs. They would be compelled to charge a
toll OF $3.50 ton. and that price would ex-
clude all commerce OF tho coarser grades,
such as lumber and cereals. which would not
be the Gaze II the Government guaranteed the
China and Japan 600 miles closer to the
United States than to Liverpool and enorn GUS
ly Increase our trade relations with those
Senator Morgan said that the Construction
company which Is New York corporation,
the Maritime Company y. which was chartered
by the United states. was seeking other
geth0dS oo Of the wOTE A1 %sd
been paid in hy citizens Of the United States,
and every dollar. so far as reported, had been
honestly expended on the canal and every item
OF contract completed so tar had been below
Mr.. Morgan said II was i'm rortant now to de-
eide whether this canal should be built by pri-
vate subscrirtinn from all over the world or
whether the United states should ut once be-
antee the money to complete 1t. France was
consideredto DO ont Of the question. because
deuce theIe resulting from the Panama Canal
failure. No subscriptions could be obtained
outside cuts 9 III anGaId GeEmH5y and AmeEica
States should take national supervision OF tho
enterprise or whether we should stand back
out the exercise OF any sovereign power or
paramount control The Suez Canal was built
6nss Shares BY W1s s
Khedve OF Ecypt These holdings were sub
!s SSosSf h MORGAN lsa then ne
590.400 The, would Sc! TODAY Tor So
Nicaragua Canal would prove to be an equally
good paying enterprise. as well as beneilting
the United states commercially to q greater
extent than any other country on the globe.
MIR. Morgan said he regretted the failure Of
the Senate In 1870 to ratify the Frelinghuysen
treaty with Nicaragua. BY the terms Of that
treaty the United states would have secured
strip OF land twelve miles wide. connecting
both oceans, that would have been invaluable
To us. Incidentally tho Senator threw small
side light on the executive session OF the
senate at which this matter was considered
He said that the treaty lacked hut one vote OF
the necessary twO-thirds vote which would
have secured its ratification. Tho only thing
which stood in the way OF q practically unRni-
nous adoption OF the treaty was tho bugHbOo
OF an infringement Of the Clayton-Bulwer
treaty.
At the conclusion Of Senator Morean's re-
marks Mr.. Storer of Ohio offered u resolution.
which was unanimously adopted. providing
Tor the appointment oithree Senators and six
Representatives. each to be appointed by the
presiding officers OF the two Houses. to pro-
coed as soon as possible to make personal
Inspection of the route from Greytown to tho
Pacific and to learn the actual condition OF the
work and OF the material and political affairs
In Nicaragua and Costa Eica. 30 far as these
may have reference to the construction of the
canal. The resolution will be reported 10 the
House tomorrow.
Eleven members OF the committee were PRES
emit ut to-day's session. and one OF the number
SAID that so far as he knew the entire COM
mittee unanimously favored the proposition OF
Governmental control of the work.