Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-02-14
SD CONGRESS.
Senate takes Up the Nicaragua
Canal Bill.
Mr.. Frye Makes An Able Speech in
Favor Of the Measure
Pointing Ou. Iss 6reat Value and Advantages
to United Sta.es.

1 to- Aht stbttS re-
fused to consider the New Mexico state
hood bill in the morning hour. The Senate
bill TO amend the ac, of Feb. 20, 1889, to
incorporate the Maritime Canal Company
of Nicaragua WAS taken up FRYE adro-
Gated the bill.
lie said that from the time Columbus
sought for il in vain, the dream ot the
world had been to find pathway for ships
across the isthmus connecting North and
South America imagine that not spot
on the giobe has been SO fretted by specu-
| latofs, inventors and surveyors as that
For the last ls or l5 years the attention of
the world has been directed chiefly TO three
points, Panama, Tehuantepec and Nicar-
aqua.
| NJ De Lesseps at first favored Nicaragua
! and then, owing to certain complications,
changed 10 Panama, giving his reason that
a sea level canal was an absolute necessity
and at that point only, it was practicable
| He laid out his sea level canal and il
touched the chagres river at nine different
points.
| | li:d the honor to he Il member of Il
| select committee of the House on the
lsthmian routes in 1881. The inquiry ex-
tended over six months Of time and was ex-
tremely interesting and instructive. | early
ran across thu Chsgres river and early
made up my mud that no such uDcon.roii-
able aud reckless stream as that
can he found in the wide world
| early determined that man never could
harness it and compel it TO do his will NJ.
de Lesseps expended $3.50, 0,0Oo, 900 on this
route and elsew here, AMI changed his plan
from sea level capal To lock canal and
failed. Since then French commission
investigated this canal and has unanimously
arrived at the conclusion that it is practi-
cal impossi bilisy, and now nothing further
may be thought of Panama.
Tehuantepec was called to the attention
of the world chiefly on account of one OF
the most distinguished engineers who evSF
lived. an American citizen, Mr.. Eads. lie
had scheme as brilliant and attractive as
the brain OF man could conceive. Mr..
E.,ds died in the midst of his work. No
successor has never been born and in my
opinion none ever will be born, so Tehuan-
teper may be eliminated from the problem.
Nicaragua has been favored as a loca-
ton for great many years on account of
its climate, because the distance for .he ex-
cavated canal was only % miles, while the
lake and river transportation was l42
miles; because midway was magnificent
sheet of fresh water, deep enough and
broad enough to hold the navies of the
whole world because at either extremity
harbor safe and convenient could be easily
provided, and because it is just beyond
what ia known as the Calm Belt of
Panama.
Mr.. Frye calculated the advantages of
the Nicaragua route; both to reply to the
earthquake and other objections made
against il and 10 show why 1t would be for
the benefit OF the country that the credit of
the government be lent to the canal com
papy as proposed in the bill. As to the cost
of the york. he had no hesitation in saying
that vith the ni1 of government credit, the
out~iit cost would be 800 900 900. While
Sitiuut that a:d lis cost would be nj least
dopl,le, h-ealse TIN, company could not sell
It's l,"u,'. gangutrarteel) for mere than 60
per ctl.t ..and ~ontl have to pay q per cent.
interest instead Of , per cent.
Surr bonds sultl At 81 with the stock
throsn ia as II bonus lie calculated that
the apnusl fixed charges of the Nicaragua
canal under the tao system; interest on
500 900 600, guaranteed by United States
government ~ :; per cent. ~ ,non. .uo1,
maintenance repairs and operations, So
600 OO0; sinking fund, which woul in 80
years pay tbe entire issue of bonds, 81 Hi0-
600; iotni, Sc 600 600.
Interest on 500 0un. 900, which would
cost the company if the bonds were not
guaranteed by the government Il per cert.
SIP 600, 600: annual maintenance, 81 900,
900: total. without a sinking fund, Sit,-
coo 900. He calculated on basis of o.
00o. .00o tons tiu sight the company, there
fore, would have 10 charge not 81 ton.
but 81 % tn s. under the plan Of the hill.}
81, 900 900 year: same tonnage and toll,
without that rlin), would leave los of
So 900 900 year. The company would
have TO charge, not 81 a ton or 81 30 a ton,
but 81.
Frye described in glowing terms the adj
vantage which the opening of the Nicaragua
canal would give the United States in trade
with China and Japan. He said the United
States government could afford TO lend
credit for 500 900, 900 to build the Nicar-
aqua canal for for foreign commerce alone
and asserted that the domestic commerce of
the United States would reap very much
more advantage from the canal than even
the foreign commerce would.
Morgan also advocated the bill. Morgan
said there was no treaty existing between
the United States and any other country
except Nicaragua which would forbid
the company, if the company failed to
build canal 20 construct and operate the
canal itself. The bill went over til to-
morrow. Allison reported from the COM
mi,tee on appropriations the sundry civil
bill. The Senate went into executive ses-
sion and afterwards adjourned.