The record-union., 1897-01-20

time Company of Nicaragua, a concern
which had failed utterly TO build the
canal. and a plan which would result
in a repetition Of California's railway
history He said the United States is
great enough and rich enough and
strong enough TO build and own its
canals ana its railroads, and should do
so.
Mr.. Shanahan read at much length
from the speech of Senator Mitchell Jf
Oregon concerning the system of bond
ing contemplated for the enterprise and
criticised it in detail.
Mr. Dibble. replying. said he was not
in favor of the amendment. Unless We
send our support of the Mah0n bill we
need send none at all, for unless that
/ bill passes We shall not have the Nfcar-
aqua Canal. The Maritime Company
of Nicaragua, said Mr. Dibble, is the
absolute owner of the concession from
Nicaragua and Costa Rica by which the
canal is allowed by those countries.
| The United States cannot take that
franchise from these two independent
countries. The Maritime Company is
unable to carry out the construction
of the canal though they have made a
considerable expenditure. 1t is the pur-
pose of the bill to take the work Of
/ construction from the company and
| place it in the hands of United States
engineers and to put the whole abso-
! lutely under the United States Mr.
/ Dibble then explained that 1000 900
/ shares of stock at 500 each would be
| issued, that of this three -tenths would
/ be given to the Maritime Company and
| seven-tenths to the United States,
/ which also holds a first mortgage on
| the property. Thus seven -tenths Of
every dividend would pass TO the Gov
| ernment, which would also hold abso-
| lutte control in the Board of Directors.
| The bill provides that there shall be
! eleven of these-eight for the United
| States, one each for the Maritime Com
/ pany, Costa Rica and Nicaragua. This
| Government also has the right at any
| time to take the other three tenths of
/ stock and wipe out the Maritime Com
pany.
| Unless this bill passes, Mr.. Dibble
said, the United States must give up
all hope of owning the canal-and he
quoted from Senator Morgan here-be-
cause Nicaragua and Costa Rica Will
take back the franchise and England
stands ready to grasp the great enter
prise. He would not say that Shana-
hans substitute was designed to play
into the hands of England. but he
would say that any opposition now was
in the interest of English control of
the canal. We should uphold the bill.
(ApplauseD
Dryden spoke at length in favor Of
the amendment. and rehearSed the
story of the South Sea Bubble, claim
ing that the history of the big canal
would be a parallel case. The Govern
ment said Dryden, should buy the
franchise and then build and run the
canal. 1t can do it, he claimed, it is
rich enough and ii could make money
doing it. You are not dealing, gentle
men," he said. with Government busi-
ness a. you would deal with your own"
The previous question was here de-
manded. put and the amendment lost.
The original Senate joint resolution
was adopted and message to that ef-
feet transmitted to the Senate.
RECONSIDERING AGAIN
MalcOmb moved a reconsideration OF
the vote by which Caminetti's resolu-
ton. calling for report from the Har-
Dor Commissioners was adopted Monday.
There was much opposition from the
minority but the motion to reconsider
carried. However, on account Of the
Speakers uncertainty as to a point OF
procedure, the consideration was tenn
porarily Laid over.
Melick offered a resolution that the
Committee on Retrenchment be au-
thorized to send for persons and papers
and to administer oaths. Referred to
the Committee on Retrenchment.
A NEW CLERK.
Treacy offered a resolution that Ed.
j. Smith should be appointed as an e1-
ira clerk to serve as clerk to the COM
nittee of the Whole. and with rowing
commission to assist any committee
clerk in need of such assistance Re-