The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-03-28
HELP IT OR DROP IT.
n Nicaragua Canal Ools
Demand On Congress.
a eaorGsT ~ WARNER assLLGR.


Wasninston city, March N.JTne invss-
tsxat.on Of the Nicaragua canal problem
BY the house committee on commerce was
begun today by the appearance OF War
nsr Miller. Of New York. the president Of
che canal company. There WAS a full At
tendance Of the members and other inter-
ested partteo Mr.. Miller declared that he
had not come for the purpose Of recon-
mending the Mahon bill. which had been
adopted by the subcommittee. for he had
not even read the bill. He described at
some length the history OF the work on
the canal, the physical conditions In Mic
Aragua and many other details. Mr. Nil
lsrs idea Was that the government should
guarantees bonds to the amount Of no.
10000 At per cent. which would necessi-
tate an annual expenditure of s. 600 for
needed for maintenance and improvements
above the cost Of maintaining the canal.
and the remainder OF the receipts would
be put into a sinking fund for paying OF
the bonded debt. The govd0uyient. he de-
clared. could pay nothing for the canal
under this arrangement. and have some
$4,000 900 OF stock left.
The canal company had never taken any
part In legislation. had never advocated
any plan for government control. ard had
never appeared before congressional COM
mittees except when called upon. The
company had felt that IL had a grievance
against the government because after the
introduction Of the senate bill IL had been
impossible TO raise any money. American
capitalists had said that the government
should take charge OF the enterprise ard
foreign houses had feared that after a
few years the government would take pos
session and return them only the money
Invested. with no profits.
In reply 10 a question. Mr.. Miller said
that he had no doubt OF the ability OF the
company TO raise the necessary funds. rot
withstandisg the financial condition OF
tho world. but for the interposition OF the
government.
STR. Miller dealt with the report Of the
commission sent to the isthmus last sum-
mer. at length. 1t had been well under
stood. he declared, that the commission
had been appointed by the opponents OF
the canal. for delay. He criticised the en-
gineering attachments OF the commission.
and said that with the money at their
command they had been unable to inspect
the country sufficiently. The impression
that the commission was unfavorabls to
the project he asserted was incorrect.
Speaking Of the Pacific coast. Mr.. Miller
said II had been expected that a great pop
ulation would settle there. He assured the
committee that vouchers for al1s8xpendi-
lures made by the company would be
placed at the disposal of any committee or
commission, and said they included no ex-
penses for influencing legislation. The CON-
pary felt that the time had come when the
government should either undertake the
work or give notice to the world that II
intended 20 do nothing, so that tho pro-
moters would have a clear field TO work
with other governments or capitalists.
II congress decided 10 drop the project,
Mr.. Miller said. no would turn TO tho Amer
lean people to invest in the company. and II
that appeal failed no would turn the work
over 10 some one else.