Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-02-11
Nicaragua Canal.

gress but recommendation which many
expected the President to make did
not accompany it. This boardesti-
mates the cost at 1888, l72, 1913 or
S64, 900, 600 larger than the first estimate
by the canal company. But the bill be-
fore the last Congress contemplated an
expenditure Of 500, 600, 600 Of which the
United States was to guarantee $40, GOO
600 three per cent bonds in return Tor
which the government should have ten OF
the fifteen directors.
Naturally those opposed to the canal
will make the most of the increased cost
estimate to discourage aid, That part of
the report by the board, declaring that, in
order Ito obtain the necessary data for
the formation of the canal project, eigh-
teen months time covering two dry sea-
| sons and an expenditure of $3.50, 600 will
be required, " will be made much of Ivy
those hostile to the enterprise either
through misapprehension or through sci
fish interests. There is 10 desire 90 the
|
part of those who most heartily favor the
enterprise, to unduly hasten the work.
But there have been so many surveys Of
the route that many will be found who
will be inclined to the conclusion that the
expenditure of two years time and nearly
half Il million dollars upon further sur
vcys will prove more advantageous
to the engineers who shall be sue
cessful enough to secure the job than
to anyone else. Judging from their
report this board of engineers has made a
very liberal estimate of the cost of con
struction. 1t docs not appear, however,
that they have disclosed anything of es-
should be made respecting the harbor at
Greytown. Furthermore it is very doubt
| full if board of engineers can determine,
what of all things should be determined
as accurately as possible, the effects of the
heavy raintalls in that region. This i'm
portant feature of the work will probably
remain an unknown quantity until
solved by experiment In building the
canal. And in view of this the liberal
estimate of the board will probably be
found nearer accurate than the lower one
of the canal company.
Should the canal be constructed at a
cost of 1888, 900, 600: The Suez canal is %
miles long and cost slo2, $50, coo. About
$4,000, 600 is annually collected in dues,
the number OF vessels using the canal be-
of construction of this canal was almost
an unknown quantity so far as estimates
went. A part of the way the shifting
sands Of the desert threatened the success
of the undertaking and have nccessitated
considerable outlay. The Nicaragua canal
will be longer than the Suez, being 60. /
will be by canal proper, the river San
Juan being 64.5 miles in length and Lake
Nicaragua aifording unimpeded naviga-
ton for a distance of 5G.5 miles OF course
much will have TO be done along the river
in the way of dredging and in the work
of restraining the mountain torrents,
which in the rainy season raise the river
to dangerous pitch at times. The diff
culties which beset the route seem to be
those connected with restraining the
natural channels within due limits rather
than with digging new channels. AS to
the income from the canal, that is another
unknown quantity, which cannot be de
termined by any investigating boards and
only by actual experience. 1t Is argued
that while the Suez canal saves England
nearly 5000 miles on voyage to India the
Nicaragua canal will save twice that dis
lance on,a sea voyage from New York to
san Francisco. The company estimates
sufficient tonnage to pay at the rate Of 50
per ton,an annual income of per cent on
5000, 600, 000.
From these estimates it would seem
that the canal would pay fair rate of
interest on the money invested, although
the estimate of ), 900, 600 tons in traffic at
opening may be somewhat excessive. Its
cost cannot be compared with that of the
Panama canal, which has cost $500, 600.
900 and cannot be completed for less
than another 500, 900, O0o. The Panama
canal was swindle of the rankest kind
and our government can go none TOO
slowly if slowness be required to prevent
anything resembling that famous scandal.
But the question for our government to
decide is not whether the enterprise will
pay handsome dividends. There should
be such a waterway across the isthmus
and the United States should control it,
Once established it must inevitably pay
in time. While no one will favor such
haste as to permit of scandals or extrava-
gances we believe there is a quite general
feeling that nothing should be neglected
which may impair our rights to such a
waterway or may unnecessarily delay the
enterprise Certain railroad corporations
are naturally opposed to the canal There
are always those to be found who oppose