The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-04-25

$50. OOO, 900. That MIR Menacal and his
associates had estimated the canal TO
cost So. 062, 350.55. which had been in
creased p per cent. for extraordinary and
incidental expenses, making the grand
total sos, 0S4, l16. That after this report
had been made hundreds of lines had
been run to test every possible condition
that might arise in connection with the
construction, and this estimate was
finally submitted to a committee Of disln-
terested engineers, who raised the esti-
mate about S25,000,00O, but the com
mittee finally adopted the sum OF
about s., 100000 as the safest
outside limit: that the bill now on the
calendar Of the Senate limited she capital
stock to 800. 600 GOO; that the government
of the United States would never, in his
opinion, be called on to pay 81 OF the
bonds of the company on its Endorsement ;
that the lands granted TO the company IN
terested in the construction OF the Nica-
ragua canal were of the finest for the
production of coffee, cocoa, sugar and all
the fruits of the tropics; that the country
through which it was now proposed TO
construct the canal was high and salu-
brious, and no fear need be entertained
that the la borers would suffer the tor
lures suffered by those on the Panama
canal, every fifth one of whom actually
entered the earth.
NO CHANCE FOR A STEAL.
There was no chance in this for a repe-
tition of a credit-mObiller scheme, or Tor
any other rascality as was experienced by
the French, who in their unbounded falJn
and confidence in Count De ! esseps had
contributed immensely to the Panama
scheme, which resulted in great and gen
eral financial ruin, to say nothing OF the
landing in prison of some of the leaders Of
the social world of Paris. The great bluns
still stand on the isthmus as a monument
to the recklessness of the great engineer
who had planned and built the SueZ canal.
The senator said that the lands granted
70 the Maritime Canal Company by the
Nicaraguan government will be worth
not less than $40 an acre when the canal
is opened; that the parties who hold
these grants are true Americans, and have
refused the princely offers of foreign
syndicates for the purchase Of the con-
cession, preferring that it should be
owned and controlled by the government
Of the United States rather than 10 trans
fer their concessions into foreign hands
'Do you contemplate what that means"
asked Senator Morgan. Suppose it
should fall into the hands of Great
Britain.
SCOOP OF THE sUEz CANAL.
What did Great Britain do after
Count de Lesseps and the people
of southern Europe and the khe-
dive of Egypt completed the Suez
canal7 DIsraeli, the premier of
the realm, purchased about 5000 900
of stock of the Suez canal, and by that
means obtained control of it for the
British government. This stock is now
worth, on the bourse at Paris, 1858 so
.
on the original investment, and on which
there has been declared annual devidends
of about % per cent for the past eighteen
years"
Senator Morgan here went into an
elaborate list of figures, showing the ton
mage passing through the Suez canal
when first opened, and the wonderful in
crease 10 1892, in both, tonnage and reve-
nues, and demonstrated that the opening
of the Nicaragua canal would draw
much greater percentage of tonnage than
would go through the Suez canal, and
while the charge is s. 10 per ton through
the Suez canal, it could he placed at only
81 through the Nicaragua canal.
CLEVELAND IN FAVOR OF IT.
Senator Morgan then referred to an
interview of more than three hours dura-
ton with President Cleveland just prior
TO his leaving Washington on last
Wednesday, in which he said was dis
cussed with perfect freedom and without
any embarrassment whatever every fea-
ture of this great plan; that toward the
conclusion of the conversation MIR.
Cleveland expressed his qualification
that he had signed the bill
during his first administration,
granting authority to enter upon this
great scheme; that all the questions of
the cost of the canal the protection of the
United States, the earnings and profits
that would be brought to the government
of the United States were examined. He
said that Mr.. Cleveland told him he was
in favor of the canal and that it ought to
be built, that it would be the browning
glory of the 18th century, but that new
evertheless, the President said we must
be cautious about it, that he had
examined the safeguards that had been
put in the bill and they seemed to him
sufficient, that he could not see that any
loophole for any fraudulent action under
the provisions of the bill as prepared had
been left. Senator Morgan said to the
President, When l go south want to be
able TO tell my friends that you
desire this canal built" and
he remarked, II very earnestly desire to
seeit built; don't know that | shall have
any impeachment to offer it"
In conclusion, Senator Morgan said
"Now, fellowcitizezs, feel that we are
on the eve Of the realization of this great
enterprise, if l can impress upon you the
necessity of the exertion of your in
tuences and your energies where you re
side. Talk this subject up, write letters
TO your members of congress; tel
them that while they are il
Washington city, they should give some
attention to this subject. We want this
canal, and it can be built if we use the
proper precautions, without tho slightest
danger to the government or the people
of the United States If you say to YOU
representatives in congress that you ar,
going to stand by them in the event the,
stand by you in the contamination of thi
great work, we shall have this bill
passed"