New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-08

nor dreamed about it in the deserts. He made
the project his own during the decade of triumph
which followed the opening of the Suez Canal
when he was enjoying the reputation of having
governments Of Europe had declared to be an inn
possible undertaking When the Panama Canal
was condemned as an impracticable project. his
interest In IL was increased. He had listened TO
talk of that kind fol fifteen years when he was at
work in Suez and was not impressed by the taunt
repeated in 1879 that he was not an engineer. but
a dpomatist and dreamer. Personally he
knew very little about the conditions under which
the oceans were to be united at Panama. When
the Congress met at Paris he proposed to dup-
cate the Suez Canal by STIMULATING that there
should be good harbors at each end. no locks.
and that other streams than tidal rivers should
be avoided. He saddled upon the international
Congress the responsibility of deciding which
the best of eight projects and five routes nut
the vote Of IS 10 in favor of the line suDae-
quently made the base of operations was manly
secured by his influence. Lieutenant Wyse hai
obtained a concession from the Colombian Gov
eminent and II was understood that the new
project was to be hoatei upon the reputation
which NJ. de Lesseps had won among small IN
vestors in France financier who invafiapiy
succeeded in whatever he undertook
The construction company was organized IN
1885, when NJ. de Lesseps was in his seventy :
sixth year. Like the other Grand Old Man OF
the century. he was in a hurry. He announced
that the canal would be completed by the close
of 1883. and he threw himself into the new
enterprise with characteristic energy making
Journeys to London. New-York and Washing-
ton. visiting the Isthmus and turning the hrst
shovelful of earth. and surprising the rhetoric
OF the SueZ prospectuses In his appeals In the
cupidty and crcdulity Of European investors
NJ. de Lesseps staked his reputation upon the
success Of the Panama Canal with the reckless
ness and easy confidence of gambler who
was convinced that his luc6 could never turn
against him.
A MrsMANAGED PROJECT.
The money for the new enterprise came so
easily 900 900 shares being applied for when
100000 were offered-that II was wasted from
the beginning With a capital Of 100000 900
supplemented by loans to double that amount
work was entered upon abruptly without cx-
haustive surveys which would have materiaily
lessened the cost Contracts were farmed OUT
on ruinous terms gamblers and SPECTATORS
were sent out To the Isthmus to do the work OF
trained engineers: immense quantities OF ma
chinery and material were dumped AT coon
months and even years before II could be used
construction railways were built at eXtoru"na',
rates: champagne flowed and diamonds nashed
af Panama. and every advcnturer VINO couh get
n contract for any branch Of IN" work mao" "a
fortune in few weeks and then lost IL as
quickly at the gaming-table. Inc WORK Went
wrong from the first. but the truth was never
told i'm Paris There was always money 10 De
had for the publication Of lies about the caiiil
and the suppression Of facts. Th"rc was never
before In human history such shamclcSS me
management Of investors money; but NJ. de
Lesseps remained placid. credul"us ana cohIl-
dent The canal was costing gooh d"ai fh"f'
enough I'm France and the investors had ms
word for It that the work would be finished III
1855. r.
After six years Of the canal reves at Panama
there were inets on each side OF the ls'hiliu Is
and scratches all the way across 'ui'p'd ""u
hardly been touched. and the whole ohl'fpIlS'
was showing signs II paralysis NJ De L'ss'Ps
sailed in 1856 for the Isthmus on tour Oh IN
spcc;ion with the Hon. John bigrlo" hS ln'
representative Of the New-York Chamber OF Com
mere The cartil as seen by me frenchhh'
hf,l f.rta ri
completed I'm 1850 The lsthmus was me iutu''
sanitarium - Europe. The Jamaica h'g'.-'
| ,ycr. good workmen The most diihcu.t ana ~
nensye work had been done and the canai Woul'
be finished within the cost estimated 10y ,hr eN
ner,s I'm 1873 NJ De Lcsseps was the dup' p"
H. ~, chlmera but his fcl,ow-trav"ll"r re-
| norted honestly what WIS 10 be seen AZ ran
| ana Less than onchfth 81 ne WORK hnu p' DE-,
80. tho climate was one whore III" dies am
| death lives. the Chagres River was nhn'hhhF'
! ahc and the Panama BAY section was in'n'Cs'
| hy the ocean and the Rio Grande. ana me cap
| ,,ai rad been exhausted In preparations 10
| cntura work rather than in actual excavatons'