The sun., 1895-05-09

remaining shares were to reimburse the
company for its outlays, pay It's debts, ex-
tinguish old stock, and remain available, IL
needed, for building the canal.
This bill reached the House, however, too
late for action by that body. The House,
indeed, had on its calendar bill OF its own.
which made the stock of the new company
SS3, 200, 900, and the interest OF the United
States in it $4,000, 900, and provided
also for the issue OF three per cent.
bonds. In fact, it closely resembled the
Senate bill in several leading partic-
ulars. notable variation being this re-
duction in the total stock by making
much smaller allowance to the present com
pany for it's rights, property, and outlay, and
by not leaving largo c:,argin OF surplus
stock for construction purposes. But with
the session limited to March 4, and with 80
many routine appropriation bills to dispose
of, the House could not take up this sub
ject, although strong vote to do so showed
its deep interest in the canal.
The opponents Of the bill in the Senate
had contentcd themselves with offering
substitute that required n preliminary sur
vey and estimate by a Board Of three compe-
tent engineers, who were to report on the
practicability of the MENoCAL route, on
which work is now proceeding. Most
wisely, therefore, both the House and the
Senate joined in n provision for the appoint
ment of such Board of experts, to report
OH these very points before the next meeting
of Congress, and it consists OF Major LUD-
Low Of the army, Civil Engineer ENDICoTT
of the navy, and Mr. NOBLE.
1t will be seen, therefore, that the task un-
dertaken by the party that has gone south
in the Montgomery is Of extraordinary i'm
portancc. It's conclusions may have de-
cisive influence upon Congress in determin-
ing whether this great highway Of COM
mercc shall be built and maintained by the
American people through the means to be
furnished b. their Government.
It's most important duty will undoubted-
ly be that of ascertaining whether the canal
is practicable at all; for, during the Senate
discussion, a leading point urged by the
opponents of the project was that the fierce
heat of the tropics baking and cracking the
soil, and above all, the resistless torrents
produced by the tremendous rainfalls of
that region, would not allow any canal to
last unless built so solidly rs to make it's
cost and maintenance ruinous, even the low
est interest being far beyond what the tolls
could reimburse. These engineers must tell
Congress, first of all, whether this Is so.
Next they must make careful and
detailed estimate of the cost of the canal.
1t was noted in the Senate that Mr.. Memo
CAL estimated the cost at S65, ,OS4, 176,
while Board Of experts appointed by the
cny fn thaga af
sS7, ,790.57O, which is an enormous differ
ence. Mr.. MORGAN thought the canal could
readily he built for $40 900, 900, the amount
of the guarantee in the bill before Congress.
But if the Engineer Board should fix the
probable cost at any sum below S1OO,OOO,-
900 it would not discourage Congress, in
view of the probable income from tolls and
the vast strategic and commercial impor-
tance of the canal to this country
All that Congress and the people ask Of
the engineers is that they shall do their
work with the utmost thoroughncss and
with all the skill they have, going over por
tions of it again and again, if need be. not
fearing to set forth every disadvantage and
drawback, and putting the probable cost Of
construction exactly where the facts war
rant. The remainder of the affair the peo-
pie and their representatives will take care
of. They want no Panama scandal attached
to the great enterprise upon which they
hope to embark They wish to go into the
task, if at all, with eyes open, under no false
representations, and hence subject to no re-
grets That this magnificent enterprise will
be carried out by the American people we
may confidently expect.