Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-01-11
CAN BE MADE TO PAY.
Profits Of the Nloaraguan Canal
Estimated.
OVER s9,OOO,ooO PER YEAR,
George S. Baker Gives a sgeeinci Statement
Of I've PROPOSED BilI-A hissling Of the 4
Illinois Delegates 70 Consider the
Measure Offered.

Canal convention recently held in New
Drgnns The local gathering WIS held
az the office of secretary Baker No
I 1IJ Dearborn street. Monday afternoon
There we're present the Hon. Geo. j.
Adams, Wauiell tiuthene. George J..
Vance, Colonel i. r. Stuthmayd, George
y. Baker. Nnlcolm AioNeill. q. W.
Crawford, NJ. g.. Harris. John Blecen.
Frederick LOdding. the Hon. y. &. Haw-
ley aud others. The Hon. 1'homas G..
Merritt chairman Of tbe Illinois delcga-
ton. sent q letter regretting bis absence,
and the Hon George r. Adams was
chosen chairman Of the meeting
Tho meeting was Ia pursuance Of the
general Instructions given - an deegats
| by thc convention. It's purpose was to
carry ont, 50 far ~ Illinois WAS spu-
| cerned. the suggestion II tlie convention.
that the delegates Of each state familiar
lie themselves with the sentiment of
their citizens and press regarding gov-
| Frnment control ~ the canal. and take
surh steps rs they deem necessary 10
inform the public On ibis subject The
| Instructions ~ The convention were also
that the delegates report to the governor
| hy whom they were appointed the result
| Of their whit TO New Orleans.
The meeting very soon developed the
! fact that Senator Sherman reported iA-
| voribly the amended bin hy which the
! United States Is authorized TO assume
control Of the Nicaragua canal upon ~
| guarantee VI its bonds, aud that opposi
] tiOn 10 practical government ownership
| has ben substantially wiped ont. The
/ bill. IL was shown. Is 80 entirely different
| from the one introduced ia 1891 that it
I meets every objection which opponents
OF the plan have urged. and throws
around the governments relations with
the canalsuch complete safeguards that
the most rAbid enemies Of the measure
nro left without material for criticism.
GEORGE 5. BAKERS STATEMENT.
This nt least was the statement of
George =. Baker. who said also that bis
observation since the New Orleans con-
Neniiuu convinced him that the new hill
WIS practically without opposition. and
that lhe press and the people are sub
siunuallly unanimous IN their approval
81 its provisions
Before the amended bill was reported
10y Sherman faid Mr. Baker, the Oh
lection 10 government requirement OF the
canal could be summed up thus most
people thought the aid asked Of congress
was Ia the form of subsidy, such as
was granted the Pacific roads. and that
money, was y be paid at once from the
federal treasury. They did not under
stand thHt ihe Nicaragua canal was not
the Panama canal and why the former
could succeed and the Inter fail They
could not understand II the canal will
be- paying institution why stockholders
wanted tbc government 10 uid IT,
The new bill aud the discussion which
attended It's preparation aud submission
60 the senate, have fully answered an
these questions. The bill merely guaran-
tced the interest on SlU0,O0O0OO or less
% the canal compuuy's bOnds of the
Sl0D,OODOO stock the United States will
hold absolutely $s0,bO0OOO It's linMlity
VIII be = per cent on SlOO.000.0OO or
SHWnOOO per enuum being interest on
The bonds and as security for This in
dOrScment IL holds over four-Rfths al The
stock. The balance % the $1,000. 900 100
Stock being only SlgJOOOOO. IL the
Nicaragua, Costa laca, aud the conces-
sionHries.
"A comparison Of the Nieeroyuo caNol
with the Pacific railroads Is unwnrranteJ
Tor the very simple aud exclusive reason
mat the government has the naming OF
ten TO fifteen directors In the Nicaragua
canal. A the government guarantees me
Interest GA the bonds aud il liable only
lA he egehi 81 the coinhlny's future I'D
pay 10, the United States yyould uot M
obliged 20 pay the interest unless H. ton
directors Of the canal company neglect
10 see that Il was met by the canal COM
phuy. ln the Pacific roads the Coyerp- !
ment has NO control, and the directors.
pelhg piynte individuals selected los the |
D.
WuOOo which should have been apnliea |
10 the payment Of interest The govern |
ment was simply left in that case 10 hold |
the bag "''u
STATISTICS OF PROFITS.
lt n not contemplated by the new |
bill that the government will Give poney
or property To aid of tails work now ~. |
~ any Tune provided TINT the canal viii |
ht successful enterprise. Tint u will |
1 l..-
doubted, The coastwisc trade of tbs |
,mru states can not be less than d.
Vpu'W tons passing annually tlroupb 1
me canal' AZ 81 per ION. which is 81 ~ |
ler TON less ihnn is charged by the Suog
s " ne Nicaragua canal wOnld earn
ssD;uuVVuu' oI which %,OOO,OOO Is SUI |
htleht 10 meet the interest Of The bon,is
guaranteed by the government. A iite
amount Tor operation aud repair lcorcs
s ,ss s Tor sinking fund TO pay OF
zone great advantage which has come
p, lhe people Of the United States from
TINS discussion Is the lesson ii has t1,tei,t
in geography. Why any one can con,t,,,r.,
me Nlcningun canal with The pnnan,n
r'hal is puzzle. The former re6ncns
me qlsiouce between New Orleans onj
snn Francisco 1900 miles over ire pannl
~" tu3lp' lne investigations In Franre
nave shown the utter imniacticohilitr 10
fonama, where The enginceerine d,W
ehllies cannot be surInOuntpd Inv nm ~
llehullgre Of money less than 81 .OOO O00
w. Inc lnnama route Is shorter fro,,
ocean 70 ocean, but the mounfains 49,,
90 grrnier elevation than al Nionrnt,,a
consequently with a greater fosiste,',,
20 progress by the Nicaragua ro,,,,
Axe Nicaragua furnishes an aLupdonc,
OF water az the highest elevation "a IN,
S,anal and for the lauer's operation Tho
lNhama canal was originally Tor a IN
Masef canal lt was Afterwards propose1
20 pinld locA6. To 90 this II would Le
necessary 10 pump all or nearly an al the
, Nu.ei useu ~ The upper lelels Tor the
i'vs"V"h OF the canal. A tide water IN
~ posslhliilF. or II possible, at an expen.
dltore an have said. OF 81 N5t0o |
NATURE WILL ASSIST THE CANA
On Tie other hand nature seems III
naNt sAp'yiany Intended, the Nicaragua
tNVw 1Sr ne PURPOSE 30 which Il is to be
ip,e usi lne san juan river II already
~ tnn' 10 Witmu four miles ~ The
acihe ocean. by building a dnm III
San Juan can be raised 10 the ier.l ~
the lake, mpking the river and lai ~ ,,,,S
The Pacific. '''n n'hes OF
az stockholders arr able aud Willing
~ N,eid the canal. AS an evidence N
,s w wv tate alWady expended up,sarl
- "N'v,'NVNd GA tie works They sre
nos ehAiag government aid. though the,
a. SENSITIVE that goVernmeat bsclins
Meulu hSslen the completion of flr nansf
~ etty mnth less cest than b. privste
(, ,si'aslpflse' y Is the people Of the i'nlfed
'.essn VINO demand tllnt the c0vernfnnnt
eons" S pSis 81 toe canal fqr an lime 10 {