The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1895-01-19
THE PANAMA CANAL.

THE PANAMA CANAL. !
Present AApect OF tho untor-
tunata Colossal Eut4rprfso.
II Completed the Great Canal Would BE
Of Worldwide Benefit, But In Case
OF War Would Weaken the Coast
Defense Of tho United States.
The announcements was made by tele-
graph few weeks ago that work had
been resumed ON the Panama canal. It
is now more than five and half years
since all active work on the canal was
suspended.
The enterprise has been most unfor-
tunate during its whole history. The
concession for constructing the canal
was given, in 1877, by the government
of Colombia to Lieut.. Bonaparte Wyse,
of the French navy. He secured the
great name and the active cooperation
of Ferdinand de Lesseps, the successful
builder of the Suez canal; and the canal
company was formed in 1879.
The plan, says the Youths Companion.
was to build sea-level canal from the
Atlantic to the Pacific. An estimate
of the cost of the work was made by
engineers; but Count de Lesseps cut it
down nearly one-half, and fixed it at
five hundred and twelve million francs
"a little more than one hundred mill
lion dollars. The enterprise was in
augurated with banqucts and fetes,
and with all that theatrical display of
confidence which was characteristic of
Count de Lesseps. The opening Of the
canal, it was promised, should take
place in 1888.
But the difficulties Of the work had
gree. The floods of the rainy season,
which make the Chagres river unman-
ageable, the unhealthiness of the
country, and the distance from supplies
were some of these difficulties, and
rendered all preliminary calculations
worthless
In 1887 more than six hundred and
forty million francs had been spent,
and the work was not half done. 1t
was then estimated that the cost of
completing the canal, not at the sea-
level, but with ten locks, would be six
hundred and ffty-four million francs.
The government of France authorized
the company to borrow a great sum on
lottery bonds. But the people of France
had become tired of putting their
money into the scheme. The loan, Of
fered in Paris in December, 1883, was p
failure; the company became bankrupt;
and when the funds gave out work was
stopped.
Then began an investigation into the
financial working of the company. 1t
was found that the funds Of the cor
poration had been used right and left
in subsidizing the press and in corrupt
ing the French ministers and parlia-
ment. The officers of the company
were tried for fraud. and some of them,
including both the old Count de Lesseps
and his son Charles, were found guilty
and sentenced to undergo long terms
of imprisonment. Charles de Lesseps
was imprisoned for time, but his
father was not compelled to go to
prison.
lie scandals ruined the regulations
of bankers. journalists and politicians.
some of whom had occupied exalted
positions; and the whole scheme has
fallen into such discredit that all sub
sequent attempts to raise large sums
of money for the enterprise have failed.
The present resumption of work is
not matter of much Importance. En-
gineers have estimated, since the
digging ceased in March, 1880, that not
less than nine hundred million francs
must be expended to complete the
canal, and the company has not q
twentieth part of that sum in hand.
There has always been much misrep-
as to the condition of the
work. 1t was not easy to disprove the
make by agents of the COM
pany. The undertaking was in too re-
mote and unhealthy region to be Wis
tied and examined by persons who
were impelled by curiosity only.
In fact, of the forty-six miles of the
length of the canal, the cutting for
about eighteen and one-half miles is
finished to sea-levcl; and throughout
the entire length, from ocean to ocean,
the cutting already done is from ten to
thirty feet.
During this time the government
and people of the United States have
never been enthusiastic supporters of
this enterprise. They do not wish any
part of the American continent to be SO
subject to any European government
as Colombia would be to France, were
The canal to be finished and owned by
4 French company.
1t is great enterprise and its COM
pletion would be benefit to the world.
But look far into the future reveals
the possibility that, in case Of war,
It's possession by France might cause
,he United States great injury.
No doubt at some time the canal will |
be finished; but he is bold man who
should venture to predict when or by
whom. The only safe prophecy is
hat the company now employing. . |
'mall force on the line will not fn-
sh it.
Queer street Names.