New-York tribune., 1896-09-01
CANAL STATISTICS.

Some interesting figures come to hand concern
ing traffic on two of the most noteworthy snip
canals Of the Old World One of these is the
SueZ Canal which has now been in use for sOrnr-
thing more than a quarter of century III
1870 It's first full year of operation 1t was
paronized by only 4S6 vessels. with total net
tonnage of 4:,6609 But Increase OF trafnc was
steady and rapid In 1880 the net tonnage was
3.Oj7421 and the success Of the great enter
prise was we'll assured. Ten years more saw
the tonnage much more than doubled, the net
figures for 1890 being 6.S9O.O0. But even that
enormous increase was made to seem small
when the net tonnage for the next year. 1871,
rose to $685. H. n growth Of more than 1,SOO,OOO
tons year. Depression In trade then caused
some little falling off, that the traffic in 1S9o
amounted to only S.44S3S3 tons; but revival
has now set n which promises to send THIS
years figures above the 100000 mark, ana
there are confident expectations that the present
decade will repeat the record Of its predecessor
by doubling the amount OF tonnage passing
through the canal More than 10 per cent of the
traffic is under the British flag. French ship
ping comes next, will SO per cent, and with
marked rate OF increase from year to year. while
the British percentage Is slightly diminishing.
The total cost of the canal down to its opening.
IL NAV be recalled, was ABOUT S100000.0OO, or
81, 100000 q mile, and since then expenditures
have been incurred for improvements. amount
ing to some S400O000O more But the canal IS
so profitable as TO pay not only The fixed Interest
of per cent on all its bonds, but from S4,OOOOOO
to S5.OOO.0O0 a year in addition, as dividends to
shareholders and bonuses to employees.
The other Is the Manchester Ship Canal OF
course n very different sort Of highway. 1t has
been open for less than three years, and those
years have been marked with considerable slack
ness Of trade. The canal has. moreover, been
in some respects very badly managed. Never
theless, it, too, has shown a most gratifying
growth of business. In its first haf-year its
sea going traffic amounted to only 262O00 tons;
in its third lf-year 1t was 4S1 900 tons. and
in its fifth half-year. recently ended G6S,OOO.
There Is every indication that this increase will
continue pretty steadily, until many million tons
are yearly carried through the canal More
over, the competition of the canal has forced
down railroad rates and the charges of shipping
firms at Liverpool. so as to effect saving to
Manchester merchants of hundreds Of thou
sands of dollars a year. There Is the best OF
ground therefore, for considering the Man.
chester Canal a beneGcent public work. and one
that is bound in the near future to prove directly
profitable to its constructors.
Now these figures and facts are not merely in
terestng in themselves, as indications OF the sue
cess of the two canals in question They have
n special interest to Americans, as forecasts or
the possible outcome Of the Nicaragua venture.
1t Is often urged against the latter that it could,
If carried to completion, never be made to pay.
Perhaps not. But the same thing was said ten
thousand times of the Suez and Manchester
canals When Disrae. On Mr.. GreenwOods
advice, purchased the Khedive's Suez shares for
England, in 1915, there was a most prodigious
pother raised against him for thus squandering
public money on worthless scrip: yet those
shares have turned out to be pecuniary one OF
the best investments any government ever
made. The Nicaragua Canal, Of course. would
be radically different from these in construction
and in patronage. 1t might, however. prove to
he no less profitable. The CONN roe of the
United States is as yet in its infan,y: that Of
South America is merely embryotlc: and that OF
Japan and China, just beginning fairly to ex-
pand promises mmeasurable vastness. For
all Of these. the Nicaragua Canal would be an
important highway. Certainly the examples
cited forbid the dismissing of the project be-
yond the limits of prospective profit.