Daily Kennebec journal., 1894-12-20
The Great American Enterprise.

doubtful if the American public sufficient
ly keep in mind all that is involved in the
Nicaragua canal bill now being discussed
in the United States Senate 1t is OBJ
vious that questions of far less magnitude
receive much more attention from many
Of our congressman and Washington offic-
ials. Petty issues of patronage and parti-
san politics receive from them far more
consideration than a measure which has
in it vast beneficial influences affecting
the growth and prosperity of the country
for generations to come. 1t may be just
to say, that even the public press, as a
whole comes short of doing its whole
duty ON question OF such immediate and
reaching magnitude. The pressing
necessity of making the canal, uniting the
Atlantic with the Pacific is plain to all
familiar with the map of their own coun-
try No live American can doubt that
the future development and prosperity of
this vast country should have the full ad-
vantage of the cheapest possible naviga-
tion-that by sail and steam on all prac-
Nicaragua canal will place the immense
| area and enormous resources of our Pacific
| territory nearly ten thousand miles nearer
| the great markets of the Atlantic states,
and seven thousand miles nearer the Eu
ropean ports. California, Oregon, and
Washington, larger than France and Great
Britain combined are among the richest
natural domains on the face of the earth.
The canal would Immediately greatly in
crease the value of their grain and fruit
fields and give impetus to their lumber
trade, giving increased employ of Ameri-
can ships and sailors precisely in the
quarter of the world where the American
flag can be made predominant. The inn
mense fishery, lumber, and mineral re-
sources Of Alaska would be developed, and
this demand for capital, labor, and in
ventive skill in the West half of the Union
could not fail to stimulate the business of
the East and draw forth its surplus
capital and labor. The Southern states
could not fail to be largely advantaged by
this short cut to the great Pacific world.
Lake Nicaragua being of fresh water,
iron and steel ships, secure against at
tacks from foreign enemy ready to be
sent to the Atlantic or the Pacific, as duty
and necessity might demand, placed in
our complete control by the canal com
pletion, would double the power of our
navy, thus saving millions per annum
in the number of vessels in actual use.
The bill before the Senate provides for
the issue of $70 900 in United
States three per cent. bonds, and that
the canal shall be practically owned and
controlled by the United States. There
is not the remotest danger that our gov
ernment would ever lose dollar by this
use of bonds. The interest on the in
vestment, even should the canal cost $780,,
600, 900, would be only 50, 900, 600 per an
after completion, would amount to this
several times over. The famous Suez
canal, f00 miles long, cost S96, 600, 600
and pays 10 per cent. per annum, on the
investment. Great Britain with a keen
eye to her interests, has become the owner
of the larger portion of the stock of Suez,
thus possessing richly paying direct
Investment, while reaping for her com
merce, her steam lines, and her war ships,
advantages far more important than her
annual stock dividends.
The most elaborate and careful gather
ing of the statistics of commerce that
would pass Nicaragua canal, even at
much less rates than the Suez charges,
would pay three per cent, several times
over on $100, 900, 900. 1t is of the high
est importance that this splendid water
way between the two halves of our re-
public should be built by American capi-
tai and controlled by the United States
government. Precisely for this the bill
now before Congress provides The lead
ing commercial bodies throughout the
Union have memorializcd for its passage.
The immediate business interests of the
nation demand that this great work
should at once go forward
Can it be possible that this great nation,
the richest in the world, shall be held in
paralysis by our Washington authorities?
Almost without notice the English have
recently made ship canal from Liver
pool to Massachusetts, costing about what
it will to complete the American enter
prise at Nicaragua. France and Germany
make little difficulty in digging canals at
the cost of hundreds of millions of dollars,
where they help the trade and industry
OF their people. Even Sweden when her
population was scarcely equal to half of
New England today, and whose total
wealth was probably no more than that of
Maine at this time, constructed canal
for vessels, distance of three hundred
and fifty miles from the Baltic to the sea
np bpr xyaSter1, shore