Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-02-14
In A FEW HOURS
The Michigan Canal Bill Will
BE Decided.
GOVERNMENT MO Is WANTED
One Hundred Million Doilars and Gov
sfnmsnt Guarantee Means the Sue
cess Of the Psojset-

wAsBfSsrox. Feb. l3.-Ths morning
hour in the senate expired ~ p- m,
and then the senate blli 10 amend the
act Of Feb. -. 1859. ~ incorporate the
Maritime Canal company Of Nicaragua
Was taken up aud Mr.. Frye addressed
the senate IN advocacy Of the biil. lie
said: From the time that Colu mbus
sought for II in vain, the dream Of the
world has been To fnd pathway for
ships across the isthmus connecting
North aud South America.
Panama has been tried. NJ. DE Lea
seps At frst favored Niearsgus.
Tnen. owing to certain complications.
he changed TO Panama. giving xs his
reason that sea level Was an absolute
necessity ana that at that point only
WAS il practicable. lie laid out hss seA
level canal. II touched the Charges
river At nine different points.
bad tho honor to be . member OF
= select committee of the house on
lstnmus;an routes in lsSl. The inquiry
extended over SIX months. and WAS ex-
tremsiy interesting and instructive.
early ran across the Charges river and
early made up my mind that no such
uncomfortable aud reckless stream as
that can be found in the vide world.
| early determined that man never
could harness It and compell It TO do
his will. NJ. DeLesseps expended $780,
100000 on this route and elsewhere;
changed :he plan from = sea level
canal TO lock canal aud failed. Oh,
what . pity II 10 that that magnl ficent
man. the admiration of = world. shou q
today. in his old age. be compelled to
drink che bitter dregs Of al awful sor-
row and fearful humiliation.
what 6overnmees Ard Msana
Mr.. Frye went on TO elucidate the
advantages OF the NlcAragua route, TO
reply TO the earthquake and other OBJ
Jections made against IL, and TO show
why Il would be tor the benefit OF the
country that the credit Of the govern
meut be lent to the Maritime Canal
company, ~ proposed in the bill. As
to the cost OF the work he had not
hesitation In saying that. with the aid
| Of government credit, its outside coat
would be .Sl00. .000, 900; while without
that aid its coes would be at least
double, because the company could
not cell its bonds ungusranteed for
more than % per cent anu would have
10 pay per cent instead of 3 per cent.
The Suez bonds had been sold at 50
with stock thrown Ia as Z bonus.
He calculated the annual fixed
charges or the Nicaraguan canal under
- slcsaco. 900 sesssssl " - .iie fss
United States government at per
cent s. coo. 600; maintenance, repairs
and operations, s, 900. 900; sinking
fund, which would in fifty years pay
the entire issue OF bonds, 81 900, 600;
total, Sc. 200, 900. Interest Oh $50 .000,-
900, which il would cost the company
OF bonds not guaranteed by the govern
ment at 6 per cent. 81, ,000, 900; annual
maintenance, s., 600 900; total, without
sinking fund, sl4. .0oo. 900.
VIII Ne Decided Today.
| Mr.. Morgan addressed the senate in
It's sadvocacy. The country whose opln-
ion the United states most respected
sad whose power the United States was
always watchful of-Great Britain
had never had - word TO utter In oppo-
4 ''-'css ~ sat' Ssaip bO Riost'ss wv CbjSN-
ton. no dissent. no dissatisfaction.
tie appealed TO the senate of the
| United states, which had heard the
matter discussed time and again, 20
tako the subject and vote upon IT after
a reasonable time had been given fol
DEBATE. Let US do our duty, said me,
10 this generation. and not postpone
seton until some future generation ol
men wiser, better or stronger than VIZ
snail come up ana execute this work.
Mr. Carey asked Mr.. Morgan whether
there was any treaty existing between
the United States government and the
government OF any other country ex
/, cepllng Nicaragua wnich would forbid
The government. II the company failed
10 build the canal. TO construct and
| perste the canal itself. Mr.. Morgan
replied In the negative and referred Il
the Clayton Bulwer treaty.
After some further discussion thu
bill went over tilI tomorrow. The zen
ate vent into executive SESSION, and q
$50 adjourned till tomorrow at noon