Richmond daily palladium. [volume] (Richmond, Ind.) 1876-1904, 1898-11-10

way, which is to match that which
. connects the Red sea with the Mediter-
ranean. But there are some facts asso-
ciated with the conception that led to
the organization of the syndicate and
to the progress Of the negotiations W hich
will be of great interest to know. In
addition, it IL possible to give an accu-
rate synopsis of the concession so that
il may be learned exactly what is re-
quired from both parties to the contract,
the government of Nicaragua ON the one
hand and the syndicate on the other.
1t was made apparent to certain capi-
.<fxlists. especially some of those who had
aoxge interests in South America, as soon
as Hawaii was annexed and the course
kGxeRksllt vas seens is inevitably to
n1pgDs.5 .aSd
/ Nicaracua .sF ~rrust s<s-.,-.-.. !. -...a-..5
| and that the impulse of commerce would
| comnel its early construction. 1t was
| also ey i7ent that no syndicate of capt.
| taIists excepting those who represented
American capital would be permitted to
obtain concession.
1 A good knowledge of the feeling of
the Central American republics with re-
spect to the ownership of the canal by
any foreign government made 1t clear
| that those republics would seriously OBJ
| iect to such ownership chiefly because
| of their fear that ownership or even con-
/ troll of the canal would irreslstlbiy lead
| to the absorption of the republics them
| selves by that foreign government. AS
i it was certain that the United states
i would not look with favor upon the at
tempt of any other government to build
or control the canal it was apparent
that this apprehension III the Central
| American 1epublics had reference entire
" to the United States.
| These were some of the facts which
came to the knowledge of those capital
lists who foresaw that the expansion OF
| the United States in the way of en-
larp>d trade, in the annexation of Ha-
waii and probable supremacy over the
Philippines would compel an early con-
| struction of the Nicaragua canal. There
| was, however, another fact that was
deemed of great Importance 1he CON
cession given by the government of Nj
caragua to the Maritime company,
which is coIloquialIy known as the Nj
caragua Canal company, expires on the
9th day of October, 1899. Less than
) year therefore remains TO that company
. to construct the canal or even to get the
work under such Roadway as would
I | clearly indicate an early completion OF
lit. But the condition of the Maritime
q company has not been such as TO war
s rant the belief that it would be able tC
| do any more in the last year of the life
| of the company than it had done III al
: Of the years of its existence
el twas natural that William R. Grace
. / who is the president of the syndicate
and those associated with him IN th'
house of which he is the head should
have been especially interested IN thl
project. The house commands Iarg'
| share of the trade Of the west coast o
South America Il maintains the onl.
| steamship service between New orr
l. | and the west coast. Its traditions, e1
perienoe and opportunities have been Il
large measure associated with Soutl
), and Central American trade, and 1t ma
J. have been this y hich directed the at
n tention of Mr.. Grace and his associate
Is to the opportunity that had suddenl
e. come for undertaking the work OF cor
e. struction of the Nicaragua canal.
il The Niearaguan government Is nat
uralIy disappointed at the delay, whic
n. financial conditions IN the United State
OF made inevita Die, to the purposes OF Il
q, Maritime company That coTporatlo
OF was scarcely organized before the final
be eiaI troubles Of 1898 were ap0n rs an
for four years subsequent TO the pan
l.. of 1898 il has been found difficult
es interest capital even in the home Inyes
It nlent. TO say nothing of so gigantic
an work as the construction Of the NIcar
ng qua canal The Niearaguan govsrnme
G understood perfectly well the emoa
rassruents of a financial nature and
90 some measure et a political one " wha'
he the Maritime company met with y
m that knowledge, while il might expia
Ill the failure to build the canal, only
res creased the apprehension that the &C
MT struction would be long delayed Ine'
he fore. when men representing respon
BILE financial interests met the Rove1