New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-15
DISCUSSING The NICARAGUA CANAL
RESOLUTIONS OF INQUIRY IN THE SENATE THE

RESOLUTIONS OF INQUIRY IN THE SENATE THE
TEXT FOR DEBATE.
Washington jan A-In tile senate to-day Mt.
Wolcott offered a resolution insirlcinG me 'o"'""'
tee Foreign Relations 10 inquire what SUMS nav
been expended in and about the construction OF '"c
Nicaragua Canal since the accounts OF expenditure
heretofore rendered. lie remarked That two years
ago testimony taken by the Committee on Foreign
Relations which showed that up To maj uWe ""o"'
SO. 900, 600 had been exp ended but II WIS no" Po
posed to give to III" company ToOOo'o'o II p""'o
guaranteed by the Government. and Si2'ooo'oVo OF
stock. lie did not suppose that 1t would d" Seo'Ss
conended that any such expenditures had been haue
BY the compa.y within the last two years ana 'he
purpose OF his resolution was TO ascertain "ha' "c
actual expenditures had been.
Mr. sherman, chairman OF the Committee on Foreign
Relations said he had objection 10 the resolution
Two years ago. he said the company had eApeh"eo
So 600 600 and had since then expended consderaoy
more but not as much as So 900 900. But the amount
actuolly expended was TO bc ascertaned by the Sec
Rotary of the Treasury and the Secretary oil STATE ana
the maximum to be turned over TO the company III
guaranteed bonds not TO exceed s6OOo'ooo.
Mr. Hoar said that recent experiences In another
country and the experiences In this country In rela
ton to the transconnenal railroads. made IL very
important that the Committee on Foreign Regulations
and Congress should TO 1t that in the construction
OF the Nicaragua Canal daylight should he constantly
turned in every transaction. II was matter ID
which the good name OF The country and the pure and
UPRIGHT expenditure Of public moneys was very much
concerned.
The resolution was. at the suggestion OF Mr. Morgan
laid over till Monday.
The resolution offered Yesterday BY Mt Morgan In
strucnc the Committee on Commerce 10 inquire and
report the advantages any, that would accrue to the
productions Industries. coastwise and foreign com
merce immigration and other interests OF the United
States by means Of the additional facilities Of trans
portaop and the reduction OF the cost thereof that
would he afforded by the Nicaragua ship canal was
taken mp and Mr. Morgan addressed the Senate upon It,
In the course OF his argument Mr. Morgan said
that logically the Government OF Great Britain had
Just MS much right as the Government OF the nited
States had Charter the Canal Company and to take
the control OF II which II was proposed that the
United states should take. And II Costa Rca and
Nicaragua were to tender such al overture 10 Great
Britain or il the owners Of the concession were to
take II 70 the Parliament Of Great Britain and make
the offer which they made TO Congress and II CIR at
Britain should accept the offer. the United states
would have paltry pca-he would not call II
psltry-onc cmascuatcd plea and that was The worn
and torn and fracmcntary Monroe Doctine which tn"
senate OF the United states Ind succeeded In Kicking
literally into doll rags
Mr. Sherman asked Mr.. Morgan 70 notice the OBJ
lection made in quarters that the owners OF III"
$4,000 900 OF stock OF the company would have an
undue influence in the management OF the CORPORA
ton.
Mr. Morgan replied that in the pending bill the
power Of the Government was rc-erved In coniio o.
the operations Of the company. TIL" Government wa
10 own s-o.5OO.OOO OF the $1,000 90
Of stock and would therefore have control 80 far a.
the direction Of the company was con'ern"d
Speaking OF the provision OF the bill for ten Govern
mcnt directors jout OF nftcen. Mr.. Morgan said that n
the French Government had had It, own director In
I'll. Panama Canal Company tie robberics which had
taken place and which had disgraccd aud nearly de
stroyed The French Repdthc would Mt have ben
psrprtrat.1 and TINT miro OF fraud and corruption
and vnany which was n w. shocking thf senIblllcs
Of that ertat noble people would have BEEN avoided