Daily independent. [volume] (Elko, Nev.) 188?-1915, 1893-05-25
COST AND VALUE OF CANALS.
Tho Nicaragua Cut Likely to BE an Enor-
mously Profitable EnterprIse.

Tho Nicaragua Cut Likely to BE an En0r-
mously Profitable Enterprise.
The Suez canal, with almost hum
dred miles of continuous digging, cost
about 500, 000, 900; of this sum $50, OOO,-
600 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 it to
the western coast of the Pacific ocean
The Nicaragua canal has twenty-nine
and a 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 16915
miles; of this line 1854 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.. Mcnocal, allowing
"5 per cent. Tor contingencies, is $685.
SA,T76. A board of five other great
engineers went over Mr.. Menocals
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 Us to make the total cost of the
canal, ready for service, SS7, 799,57O. ..
It seems that this may be reasona-
bly, accepted as the outside cost of the
canal. But, il we run. up the conjec-
tural cost to $1O0,00e,Oo If built for
that sum, it must be the most valuable
property in the world of its magni-
tude. Tho tonnage, annually, can
scarcely fall below that of the Suez
canal. 1t will gradually exceed 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
100000 tons. Who does not know
that it must be creator 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 'a,OO0, 900
tons per annum, to say nothing of in
come from passengers, of whom
,swarms will emigrate to the Pacific
coast. Of this estimate we could
place the tolls at the rate of 81 per ton,
and realize $4,000, cooper annum. Take
S3,O00,000 Of this sum for maintenance
of the canal, which will not exceed
half that sum; $4,000, 900 for interest
on the bonded debt, IND So, 100000 for
the stockholders, and we will have @
result that:should excite the cupidity
of the MOTT 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 onc-half the
charges for tonnage that are now
paid to the Suez camel. If tho United
States arc the owners of $50, 1000, 900 of
the S1OO,O9o,O0O of the stock in this
canal, and if it is to cost 500, 900, 900
to build it, the dividends on that
$SO,00o,0o9 of stock, employed in a
sinking fund and invested in the bonds
'Of the company, would pay tho entire
go: Of construction and the interest cd
the bonds in less than fifty years.