The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1895-01-02
THE PANAMA CANAL
Present Aspect Of tho Unfor.
tunate Colossal Enterprise.
m Completed the Great Canal Would be
or world-Wlde Beneiit, But ~ Case
OF war Would Weakon the Coast +
Defense OF the United states.

Defense OF the United statues.
The announcement was made by tele.
oranh a few weeks ago that work had
been resumed on the Panama canal II
is now more than Eve and hall years
since all active work on the canal was
suspended.
The enterprise has been most unfor-
innate during its whole history Inc
concession for constructing the canal
was given, in 1877, by the government
OF Colombia to Lieut.. Bonnparte Wyse,
OF the French navy. He secured the
great name and the active cooperation
Of Ferdinand de Lesseps, the snccessfui
builder of the Suez canal; and the canal
company was formed in 1870.
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 1t
down nearly one-half, and fixed it at
five hundred and twelve million francs
"A little more than one hundred mil
lion dollars. The enterprise was i'm
augurated with hanqnets and fetes,
and with all That theatrical display OF
confidence which was characteristic OF
Count de Lesseps. The opening Of the
canal, 1t was promised, should take
place in 1888. ~
But the difficulties of the work had
been underestimate to an absurd de-
gree. The foods of the rainy season,
which make the Chagres river unman-
ageable, the unhealthincss \ 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. II
was taen estimated that the cost Of
completing the canal, not at the sea-
level, but with ten locks, would be six
hundred and iifty-four million francs.
The government 3of France authorized
the company to borrow great sum on
lottery bonds. But the people Of France
had become tired o. putting then
money into the scheme. The loan, of
fered in Paris in December, 1888, was O
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. II
was found that the funds Of the cor
poration had been used right and left
In Substituting the press and in corrupt
Ing the French ministers aud parlia-
ment. The officers OF the company
we're tried for fraud, and some of them,
including both the old Count dc Lesseps
and his son Charles, were found guilty
and sentenced to undergo long terms
OF imprisonment: Charles de Lesseps
was imprisoned for Il time, but his
father was not compelled to go t.
lprison.
The 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 i
not matter Of much Importance. En-
gineers have estimated, since thu
digging ceased In March, 1850, that moi
; less than nine hundred million franc'
,, must be expended TO complete thu
canal, and the company has not {
twentieth part Of that sum In hand.
There has always been much misrep
resentation as TO the condition Of th'
) work. IL was not easy TO disprove tn
statement make by agents Of the com
pany. The undertaking was In too &c
mote and unhealthy region to be Wis
tied and examined by persons VII,
were impelIed by curiosity only.
In fact, Of the forty-six miles Of til
length Of the canal, tho cutting 70
: about eighteen and one-half miles
finished TO sea-level; and throughou
the entire length, from ocean to ocean
!, the cutting already done Is from ten b
thirty feet.
During this time the goveTnrnen
!, and people of the United States hay
! never been enthusiastic supporters o
! this enterprise. They do not wish an,
. part Of the American continent tobe q
subject 10 any European government
7 as Colombia would be to France, wer
the canal 70 be finished and owned b
Q French company.
II Is great enterprise aud To com
! pIetion would be G benefit to the world
: bat o look far Into the future reveal
the possibility that, in n case Of wal
!. It, possession by France might caus
J the United States grcat injury.
No doubt at rome time the canal vii
be finished: but he Is O bold man VIII
should venture toprcdist when or b.
whom. The only safe prophecy
that the company now employing
0 small force on the line will not On