The Portland daily press., 1897-01-19

4 and facility of construction and rs to the
effect on the increase of the interior COM
meroe of the country. Those were the
locks of Sault Ste Marie and the great
drainage canal at Chicago.
| MIR. Morgan asserted that the proposed
work of the Nicaragua canal would have
| the advantage of fifty per cent over the
| Suez canal in the matter of cost of con-
struction. He gave sketch of the build
| ing OF the Suez canal and of Disraeli's
project of obtaining controlling in
ferest In it by the purchase of stock. He
mentioned as proof of the wisdom of that
| investment that the stock which had cost
the British government $40, 600, 600, was
| now worth $120, 900, 600, 500 shares of
the Suez Canal company now being
quoted at $500. He contrasted the busi-
| ness of the canal in 1894 and 1870, show
| ing that the number of vessels passing
| through the canal had increased from 4S6
| to $685. and that the tonnage had in
creased from 436, 900 to s, 600, ,000 The re-
ceipts increased from 1868, 150 to Sl4, 1856, :
| All.
| He said even if the money that would
| be spent on the Nicaragua canal brought
! in no return financially, its Importance
| politically would justify the expenditure
| The United States could as we'll throw
away UQdU iuOuby as huSSld OOUlu lATOW
| away the money spent in building the
Siberian railway. 1t was impossible for
| the Senators to close their oyes to the
| fact, in view of history of the Suez canal,
| that there would be enormous earnings
| from the Investment.
| Mr.. Morgan said that all over the
| United States men concurred most
| heartily in regarding tho project as one
OF Indispensable national necessity, and
| oc opo ofFaatino the national U1nrv and
| honor.
Mr.. Morgan said, "If we do not pass
the measure, how are we to prevent
Nicaragua from saying, Congress has
eminent of Great Britain has right TO
coms in to 1T. insist on this bill be.
ina passed now or on its being defeated
right now. We have got matters lying
lust in front of US relating to the arbitra-
ton Of differences between the govern
Inents Of the United States ana Great
Britain. I want to know what these
differences are. l want to know what
we ara signing our names to in ratifying
this treaty. If the differences relate to
the Monroe doctrine or to the Clayton
Bulwer treaty 1 want to know it. II 1t
is to be q difference involving disolaim-
er of the utteranoes that this Is to be an
American canal, under American con-
troll, I want to know it. I want to know
whether we are prepared to settle a
difference of that kind, or difference in
relation to the Monroe doctrine, by d
court to he established through the UNI
mirage of King Oscar Of Sweden, or
whether it is to be settled by the strength
and power Of the right arm Of the United
States duly asserted in defence of its
rights. ,,u -
acted on now. I want to know what Con-
eress intends to dc about 1t. l want to
know after that, what the govern ment
of Great Britain intends to do about it.
Then l will be prepared TO understand
what are the matters in difference be-
tween the government Of the United
States and the government Of Great
Britain"
Mr.. Morgan discussed and explained
the financial features of the bill ana then
said: "If the voice Of the Senate is
against this bill either on the ground
that the canal is impractioable or 1T
would cost too much, OF Ut might involve
us in conflicts with foreign governments,
OK press that voice. Let these men (the
directors and MANAGERS of the company
go. Let US no longer stand as shadow
over them or al an obstacle between
them and other parties. There Is not one
unolean spsok of dust on this whole bill.
There is nothir 6 connected with is in the
nature Of job. What is being done
here, ia dsus siipply on motion Of the
Senators of the United States
eve have interfsTed with these people
| (direo ors of the Maritime company We
tried to get thsir contract out of their
possession. They never asked us-to do it,
and never wonld have asked us. Give as
this canal and with eur form of govern
| ment, CUR traditions, our purse and our
other