Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-01-31
THE NICARAGUA CANAL.


The Freylinghuysen treaty. which has
been injected into the discussions Of the
Nicaragua canal bill and the arbitration
treaty between Great Britain and this
country. and which on Wednesday is-to-
be-Secretary-of-State Sherman threatened
TO revive, with the result that Senator
Aldrich jumped on him with fire in his
eyes and sarcasm in his words, dates
back 10 1854 1t was negotiated between
Secretary -of-State Freylinghuysen and
Mr.. Joachim Zavala, an envoy sent out
from Nicaragua for that purpose at the
request of Air. Freylinghuysen, and en-
bodied the policy of President Arthur re-
garding the Nicaragua canal. Under it
the United States were 10 build, operate.
and have exclusive control Of the canal,
and Nicaragua was TO grant US in Zee
simple a strip Of land all along the route.
In return the United States were 10 lend
Nicaragua Si.oo0CO0. engage to protect her
In the possession Of her lawful territory,
and, finally, TO give her a joint ownership
IN the canal, together with one-third OF
its net revenues. 1t was when this treaty
was negotiated. or being negotiated that
Mr.. Frelinghuysen declared that the
Clayton Bulwer treaty was imperative,
because Great Britain had repeatedly VIC
lated It, Nicaragua ratified the treaty.
but it hung fire in the United States Sen
ate. 1t being a question in the minds or
many senators whether or not the treat.
would not provoke trouble with Great
Britain touching the Clayton-Bulwer
treaty and others thinking that it came
too near assuming a protectorate over
Nicaragua, II went over as legacy to
Mr.. Clevelands first administration. by
which 1t was withdrawn.
The pending Nicaragua canal bill which
has been SO vigorously champloned by
Senator Morgan, Of Alabama, and so
vigorously criticised by Senator Daniel
and which provoked the protest of the
minister of the Greater Republic Of Cen
trail America, is a Senate bill to amend
the act OF February, 1889, Incorporating
the Maritime Canal Company. of Nlcara-
qua. 1t provides. among other things.
FOG the issuance of S1O0,0OO,ON0 Of bonds
to be guaranteed by the United States
the proceeds 10 be applied to the con-
struction of the canal. The whole or
ganization of the company is TO be
changed. and the corporation Is TO be
managed in future by board of eleven
directors, eight of whom are to be ap-
pointed by the President OF the United
States, by and with the advice Of the
president, vice-president. secretary, as
eistant secretary. and treasurer, who are
TO get 5000 a year each and travelling
expenses. The United States Is 70 receive
10 per cent. OF the stock Of the company,
and Nicaragua Is TO get Sin shares, bonds
certificates, or other securities which
the company may issue TO raise the cor
porate capital, peg cent. of the total
amount OF the issue"-that Is, $6,500,000 In
securities. as against the $i0OO,00O In cash
provided for under the Freylinghuysen
treaty. At the same time Nicaragua is
not guaranteed. the Minister Of the
Greater Republic claims. certain other adj
vantages that would have accrued TO
her under the Freylinghuysen agreement
This would seem 10 account in large
measure for Miaister Rodrisuez's protest
although some OF the opponents OF the
arbitration treaty contend that said pro
tost was made solely In the interest Of
and at the instlgation Of Great Britain
IN order that the latter failing TO get a
recognition Of the Clayton-Bulwer treaty
might bring up tho canal question
under the arbitrs ton agreement.
Without going into the merits OF the
present bill we reiterate what we have
frequently said. That IS. that the Mica
ragua canal ought TO be built. and built
as an American enterprise exclusively
Moreover We believe that sooner or later
Il will be constructed. and that when con-
structsd, II will be controlled by the
United States