The times. [volume] (Richmond, Va.) 1890-1903, 1895-09-05
The Great Can nj.

which the Engineer Board VIII maNe
upon the Nicaragua canal.
IL thinks the report will be favorable
to carrying on the enterprise but that
II Will criticse the former management,
will propose certain minor changes III
the route, and will recommend Tor the
Atlantic terminus, instead or GreytoWh'
Colorado Bar at the entrance or Grey
town hArbor. where a permanent open
80 can he made by dredging. The
Hoard il thinks, will report that the
canal can be completed in SIX or seven
years. and that IL will cost as much
as 100000.
If the Engineer Board should report
favorably on tile canal. we think that
an estimate OF $ll0N0.Oo0 as the cost
of completing IT, would not of itself deter
Congress from making 1t Government
enterprise, according to the plan pro-
posed The first question which the COM
mission appointed under the act passed
last winter was 10 determine whether
the project was IA gorgeous bubble,
as one senator described II, or a pIac-
tical undertaking. According to Its OPP
ponents, the fierce heat Of the region,
baking and cracking the SOL, and the
furious rain-st0rms there prevailing
would not permit the canal TO be buiit
50 ID " iioNs NAN'IN 90
ruinous cost.
Senator Turpie. who led the opposition
in Congress, took the broad ground that
mo canal, with or without locks, can
be built and operated within the region
of the tropical rain-beit and its torrent
streams at any calculaDle cost, or Win
any prospect of commercially prohtaole
returns" lie held that while the earth
excavated could, IN temperate climates,
be used for banks and dams, it could
nQI be so used there. as 1t would DE
Tacked by the sun and washed away
by torrents, and that the purchase ana
transportation and use OF more
durable materials would be an
overwhelming expense. me on
dculties." said Mr.. Turpie, "lie
in the dam OF Ochoa, IN that
vast mud desert of San Carlos, in that
harbor Of Greytown, with an inch ana
a half Of water on a sandy beach, ana
in that so-called harbor at Brito, when
is an open roadstead. with no shelter, no
shade" The objections TO rock-nlll.
consisting Of earth and broken stones, Tor
embankments in that climate, were also
urged by the canals opponents.
Thus, the leading points made against
the enterprise dealt with matters of
engineering, as connected with disputed
facts. IT, therefore, the experts VINO
were directed 10 ascertain 1.-THE feasiDili-
~, permanence. and cost OF canal, IN
order 10 guide the action Of Congress, are
going 10 report in favor of 1t as
feasible project. that is a great gain.
II they are competent men. If their
examination has been thorough and dis
interested. and II their conclusions are
honest, the views which our Bluenelds
contemporary imputes TO them are Of the
highest Importance. II the doubts 81
Mr. Turpie and others as to the posi-
bility Of building and maintaining canal
at all should be removed by this report,
the way would be clearer FOR assuming
Government ownership OF the canal.
1t f. also obvious that the propose Il
changes may meet some OF the engineer
ing objections hitherto raised against the
scheme. one Of these changes, according
TO the Bluefelds statement, would con-
Germ the Alta rtic terminus of the canal ,
and In general the increased estimate OF
the cost may fairly be supposed to he due
in part to obtaining that more solid con-
struction which was referred to in the
Senate.
When. many years ago. this canal was
undertaken, 100000 was considered by
some enthusiastic advocates as n liberal
allowance FOR its construction. Chief IN
gineer Menocal, however, in January, 1889.
estimated this cost as $55,0si,iI6, Without
interest and contingencies" The Board
OF Cor sulting Engineers OF the company
revised his estimate. increased 4 70 S'j.-
l66c0S, and then adl for contingencies
enough TO make their total estimate $751;
1850. Senator Morgan. the lea ling adj
vOCate Of the project in Congress gave ss
his opinion last winter, that, from the
lessened expense of machinery. labor.
and living at the present time. The cost
would not exceed $,0000.0oo The Sonste
bill made the capital stock 500 200. AID
the House bill SS3eo1.ooo; amounts whicn
included the stock TO be given 10 Nicara-
qua ard Costa Rica and the purchase OF
the present company's rights. II the In
gineer Board now estimates the cost OF
construction alone at yll000,Uoo, the IN
crease will be heavy. yet the difference IS
perhaps hardly great enough, OF itself,
10 wrck the project.
Some OF the opponents have intimated
that the cost would be 800. go or more;
and one article In a railway magazine
held that the total might reach $1,000
000 Accordingly, il would be rather
relief than otherwise 10 find that an est
mate made for the first time by expert
examiners, not interested for or against
the project. had not carried the total
above sll0.0O00 900.
Whatever may prove to be the exac,
figures agreed upon by the Board OF
Engineers. the main question must be
whether the canal would pay the interest
on its construction and its cost OF main
tenance out of the tolls IL can charge
The Slez canal, according 10 Senator
Morgan's statement, cost sso,0pOO, ana
for The last ten years the dividends upon
IL have more than equalled 10 per cent.
per annum. II the Nicaragua canal
could be built for 100000, il could AZ
ford to earn a very much smaller sum
and still meet the annual interest on the
bonds which the Government is 10 autno-
rize for constructing IL. since they re-
quire only three per cent. Senator Per-
kins estimated that at a toll just hair
of what the SueZ canal charges the In
come OF the canal at the start would
be 100000 a year: and with an esti-
mated outlay OF 100000 for mainte-
nance. there would be a balance OF s., 900, =
90. IL the cost OF construction and OF
the stock for Nicaragua and Costa Rica
with the purchase OF the company's inter-
est should not exceed sl3.ooo,00o, Senator
Perkins figures would allow four per
cent. for net earnings.
Such estimates OF possible earnings are
largely speculative, but We shall doubtless
And them revised and closely studied when
the conclusions of the Board OF Engineers
are officially made kpowns-NsW York