The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-01-04

OF the company in everything that con-
Germs the observance of the neutrality of
the canal as defined by art. of the law
OF the concession OF the United States Of
Colombia
This was TO confirm the impression he
had created in France that America WIS
friendly, as vel as TO lead the people OF
the United States TO think that the inter
eets OF their country were being favorsbly
considered BY the canal company. Soon
after de Lesseps returned 10 France he an
nounced that all prob ems had been
solved and n difficulties smoothed over.
The opposition in America he announced
had been quashed by The formation Of a
committee with the following agreement:
The American committee shall represent in
the United States the interest OF the com pany
in everything that concerns the observance OF
the neutrality OF the canal and moreover, the
committee shall represent the company ia any
other matters for which the company may re.
quest cooperation, not only during construc-
ton, but during the WORKING Of the canal.
High-Priced Americans.
"The American committee was not dis
posed 10 work for nothing and de Lesseps
agreed to make, when the company was
organized. six annual payments to the
American committee. The first payment
was 100000 francs. year following
payment OF / 400, 900 francs was TO be made
aud subsequent payments OF 100000
francs year for five wears. Thus il was
that about S2.500.000 were provided by
the Panama canal scheme TO influence the
people of the United States and their gov.
eminent.
Here was a corruption fund that was
capable OF accomplishing great results.
The organization OF the committee was ne
gotiated by New York bankers. The pur-
pose was TO secure for the chairman a dis
tlnguished American whose name would
inspire confidence and lend luster TO the
Panama project.
Grant Refused.
1.-THE fret chairman suggested was Gen.
L. :. Grant The position was rendered
that distinguished citizen through the
banking house OF G. W. Seligman q Co.,
the annual compensation offered being
| $4,000, and the general was assured that
the duties would be light. Gen. Grant
saw through the intentions OF the com
mittee \ friend of Gen. Grant informed
| the writer that in the course OF CONVERSE
was not satisfied with some things which
he had seen and heard aud did not view
| favorably the work done in Washington
by some OF those associated with the COM
| mittee."
Continuing. the article says that certain
| public officials in the American com nit
tee received S25.0 900 year for their serv-
| ices
The corruption which followed the or
! ganization OF the American committee
J and the income of the hard-earned money
| of the French subscribers TO the canal
company are still iondly remembered at
| Washington by some OF those who re-
! ceived some of the Doodle. A certain
newspaper in New York received liberal
subsidy to favor the canal; congressman
were bribed; individuals who posse ssed
| the influence were bribed, and the money
of the French peasantry run Ike water at
the national capital. An article in the
! Financial Nc,rs OF London described the
situation as follows:
The American Syndicate.
"The American syndicate is one of the most
shameful corruption funds ever recorded in the
| history OF financial enterprises Imagine this
expenditure OF $780, 900 so that few men in
New York might represent the company in
/ America and when necessary cooperate with
/ IT, To that fund ls due the success which met
| NJ. de Lsssep's invi q ION to the then secretary
| of the navy OF ths United States to accept the
presidency OF ne syndicate. No respectable
/ bankers should ever have participated in that
| costly fraud upon the shareholders of the
! Panama canal company. These men are
| challenged to show that they ever did anything
for the company except to lend their names so
that in Europe II. de Lesseps might say that
| America was all right
THE attitude of congress was decidedly
unfriendly when the committee was
formed and the press quite generally was
! then adverse to the canal under French
control. A change 500 noccnrred. When
| de Lesseps returned 10 France he an
nounced that the United States favored
his project He claimed That he had re-
futed all scientific objections TO the Pana-
ma plan ana that the Americans had rec
ognized that the work to be undertaken
had no political bearing and was 'partic-
| ularly for their own benefit. And Count
de Lesseps naively added The full co
| operation OF the great and powerful Amer
] lean banking houses show the results Of
/ nav trip TO the United States