The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-06-07
COST AND VALUE OF CANALS.
The Nicaragua Cut Likely TO be an knor-
mousiy Profitable Enterprise.

The Nicaragua Cut Likely TO be an kaor-
mously Profitable Enterprise.
The Suez canal. with almost hum
Gred miles of continuous digg i3s, cost
about 500, 600. .o00; of this sum $50, ,0o0,
900 was wasted in interest, commits
sions. changes of location and bad
management. That canal has now
traffic of nearly nine million tons an
nually, and, according to the North
American Review, it must be speedily
enlarged to accommodate the COM
merce that is crowding through il TO
the western coast of the Pacific ocean.
The Nicaragua canal has twenty-nine
and half miles of canal prism, or
axial lin>. OF this one-third is very
light dredging. The total length of
this transit from sea to sea is i691S
miles; of this line l55i4 miles is slack
water navigation at an elevation of
11O 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.
os4, 1T6. A board of FIVE other great
engineers went over Sir. 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, ,799.57o.
1t 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 500, 900, 900, if built for
that sum. it must be the most valuable
property in the world of its magni-
tude. The tonnage, annually, can
scarcely fall below that of the Suez
canal. II viii gradually exceed that
amount If it is two-thirds as great as
that which passes through the st.
Mary's canal on the lakes il will equal
1900, 900 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 5000 600
tons per annum. to say nothing of in
come from passengers, OF whom
swarms win emigrate to the Pacific
coast. Of this estimate we could
place the tolls at the rate of 81 per ton,
and realize $4,000. 600 per annum. Take
SO, 900, 900 of this sum for maintenance
of the canal, which will not exceed
half that sum; So. 900 900 for interest
on the bonded debt, and g.. .000, ,000 for
the stockholders, and we viii have
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 saving TO industry and com
merce of more than one-half She
charges for tonnage that are now
paid to the Suez canal II the United
States are the owners OF $50. .0Go. 600 Of
the sle0, 600. 900 OF the stock in this
canal. and If il is 10 cost s100. 409. 600
to build it. the dividends on that
$50 200, 900 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.