The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-04-22
NICARAGUA Canal plans
History Of the Enterprise from Its
Very Inception.

History Of the Enterprise from Its
Very Inception.
THE SUEz EXPERIMENT CITED
Reasons Why tho United States Govern.
memt Should Build and Control
Traus.isthmiau Waterway III.
vidins the Two Americas.
The action of the house committee on
foreign and interstate commerce In re-
porting favorably the Mahon bill pro-
viding for the construction, under the
auspices of the United States govern
ment, of the Nicaragua canal will be
generally approved. The Mahon bill is
really an amendment of the act incor-
porating the Maritime Canal company
of Nicaragua. which was approved Feb
ruary 20, 1889. The bill provides that
the company, within nine months from
the passage of the act, shall show to
the satisfaction of the Secretary Of the
Treasury that all stock of the company
heretofore subscribed or issued, except
that issued to the states of Nicaragua
and Costa Rica, has been called in and
Cancelled, and that all obligations, in
cluding contracts with the Nicaraguan
Canal Construction company. have been
Cancelled. After this has been done the
Secretary Of the Treasury, on behalf of
this government. shall subscribe for
100000 shares of the capital stock Of the
company. Ten thousand shares shall be
issued to such person or persons as may
hn asf ftrn tnd hy CT Ill hnlI a Of tha
canal company. whose stock has been
| surrendered and Cancelled.
The bill increases the board of direc-
tors of the company from eleven to fif-
teen. The bill originally provided that
the government should guarantee $70,-
| 100000 Of the company's bonds, which
| should be secured by first mortgage, and
all the property, franchise and rights of
the company. In the bill as reported,
however. this amount was increased to
| $lOO, 100000. The net earnings of the
| company after the interest upon the
bonded debt guaranteed by the United
States has been paid, also a dividend
| not to exceed per cent per annum,
paid upon the stock, shall be paid into
| the treasury to constitute sinking
fund for the payment of the principal
and interest of the mortgage. The
canal Is to be constructed under the su-
pervision and according to the plans
and specifications prepared by the En-
| gineering department of the United
States Army. The company shall pay
| into the treasury Of the United States
the official salaries of the engineer off,
GERS. and in addition shall give to the
officers 20 per cent. of such salaries.
The board of directors shall be required
| to file detailed statement of the work
done with the Secretary Of the Treas
ury every three months.
THE CANALS INCEPTION.
mo problem in engineering" says
the Chicago Times Herald, has ever
attracted such general attention as has
the building of canal across the mar
row neck Of land which connects North
and South America. Not one nation
alone, but all the western nations of
Europe, and especially the people OF
the two Americas, have looked forward
to the cutting acrosss of that compare
lively insignificant barrier, and have
speculated as to what the result would
be when 1t is DONE It may be added
that in the minds Of most men the Won
der has grown year by year that the
canal had not long ago been completed
1t Is doubtful If any enterprise upon
| which the genius of civil engineers has
|
bettering Of traffic and commerce
perhaps. beyond that, the civilization
of the world-as could a serviceable
ship canal across the isthmus.
| Long before the war the American
nation looked with hopeful eyes to the
digging of such means of communi.
cation between the waters of the two
oceans. But before. much could be
done in an effective way the war came
| ho1 u1, 70 do Hr
maintain its autonomy. Schemes OF
such magnitude as linking the Atlantic
and the Pacific together thousands OF
| miles north of the place where nature
originally poured their flood into g
common field were allowed to rest fol-
the time. But after the war was closed
the subject came UP again, and Presi.
| dent Grant sent commission to sur.
vey the ground. to select the place
where a canal would be the most feas.
ible and to report to congress.
This commission studied the face OF
the whole country which might be cut
across. and after thorough investiga.
ton took three routes and examined
them all carefully. In 1875 they report.
ed to the president that the route
known as the Nicaragua was the most
feasible, all things considered. This
route begins at Greytown. on the At.
| Slue, near Tie IuOutIl tHe odI
| Juan River, follows a nearly westerly
course till the river is reached, anG
then pursues that valley to Lake Mic.
aragua. Crossing that body of water
freely, the ships will again enter g
canal at the west side, and proceed by
locks to the Pacific. The entire dis.
tance, from ocean to ocean. Is 1863 miles
A comparatively small portion will
have to be excavated, and that is II
soil of a character which offers eXcep'
tional advantages to the engineer. This
route President Grant recommended as
the most feasible.
GETTING TO WORK.
"In May, 1889, the Maritime Cana
company obtained it's charter from thu
government and began preliminary sur
veys Of the work. Its engineers esti
m ed HE re eet ef the
be $7O,OOoOO0; and the government wa:
asked to assist in the construction o.
the work and to Join in the reaping o
the results. Later q commission oi
government experts was sent to lool
over the ground, and their report, JUS
submitted, Is the first unfavorable view
taken of the great project since the be
ginning They hold that the cost vii
be nearly twice what the company en-
glneers estimated, or s134,OO0.0OO Con
gresham Barham, of California, how
ever, takes the view that the cana
would be a good investment either fo
the government of or private citizens
even If 1t cost all of $3.50 1000, ,00O-and M
man has hazarded conjecture that tn,
canal will cost more than that.
But all Of that is more in the ma
ture of detail. The great fact is estap
lished that the construction OF thi.
canal would be of inestimable benef
to the countries of the earth, and es
pecially to the United States. Indeed
this country could hardly permit an,
other nation to build the canal. The,
would do 1t willingly. as would capital
lists in other countries, under the pat
ronage of their governments. IL the.
would be permitted by the authorize.