, 1894-06-06
CANALISATION


1t seems but Yesterday that the world was
watching with bated breath the work OF the
"Grand Old Frenchman 4" De Lesseps, at the
Isthmus Of Panama, which we were told was
to do for the western hemisphere what ouez
has accomplished for the East. But to-day
the author of this last great deluslon ls
never heard of, and though there are a lew
Gallo Spectators who a1e wTlhgIn3 cc!n
from French pockets to continue the gigantic
impossibility, we may safely regard 1t as a
thing belonging to the past. 3
Bot if Panama WAS a hopeless task NJ IPa-
son of engineering obstacles and geograPhl-
cal impossibilities, there is not the least rea-
son why the plan for q waterway across NJ
caragua should not be realised, and that with
in q comparatively brief period. Far less
costly in its execution, because not meeting
with gigantic distinctions, as in the case
with Panama, and therefore with a far more
hopeful prospect of financial success.
We have succeeded in obtaining figures
as to its cost and probable revenue from tlat-
fc. and if these be reliable, as we are assured
they ale, the success of the enterprise is as
sured. 1t has been taken in hand by
American capitalists and engineers, and they
are not likely to falter in their progress, for
what that race undertake they rarely fail TO
carry through.
The capital stock of the company is
k3,O 900, 600. whilst there are debentures out
TO the amount of $40, coo, 900. Large as is
the total Of these two sums. there are calcu-
lated returns quite equal to meeting the In
terest and dividends on them. The working
expenses of the Suez Canal amount to
1850, O0L, and it is only fair 10 assume that
those Of the Nicaragua Canal should not OK
ceed e9300, coo per annum Ibis being SO,
there would be left for dist ibutlOn amongst
the shareholders on the capital stock OF three
million sterling, the sun of FL 10000,
equal 10 so per cent oil the share capital.
The traffic returns given above are irrespec.
tive of further earnings arising out ofthetrade
certain to arise from the trade with the West
Indies and Canada, the trade between the
United States and the Indian Ocean, the coast
ing trade If the United States with one
ocean and the other, as well as half the trade
of Europe with Eastern Asia and Oceanic,
the other half going by the Suez Canal. But
more than this, the emigI alton to New lea
land and Australia would to a large extent
pass through this American water way.
The Australian Colonies are still largely in
the course of expansion and trade develop
ment. and all will assuredly participate in the
advantages Of the Nicaragua route. 1t
surely does not need much further illustration
of the future in store for this happily cOnceiv-
ed short cut between the two h~emispheres,
when we are assured that the trade of North,
South and Central America on either sea-
board will furnish a revenue, as shown above,
sufficient to pay all the working expenses Of
the undertaking and leave a handsome divi-
dend on the shares. In addition TO all these
advantages, there is the large economy of
time for any vessel using the Canal instead
of passing as now by way of Cape Horn.
What the West Indies want, like other
colonies, is to be placed in easy and cheap
communication with countries likely to con-
sum their produce or to barter for the pro
ducts of those regions, and this would be one
result of q water way through the Nioaraguan
territory developed by American enterprise.