The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-26
The Nicaragua Canal Bill.

urging the Nicaragua scheme through
the senate, it is exceedingly doubtful II
the measure will reach even the de-
batting stage in the house. Its proy1-
sions are so boldly In the interests of
the old Maritime Canal company, in
that they provide for an initial outlay
of S., 600 900 for which nothing tangible
is to be received in return, that repre-
Sentatives are not likely to bring con-
domination upon themselves at the
hands of their constituents by voting
for what is on its face clear extrac-
ton of money from the public treasury
without any consideration being given
therefor.
One section Of the act provides for
the redemption and cancellation of the
bonds, stock, scrip cash liabilities and
construction contracts of the old COM
pany. But of what does their value
consist? Absolutely nothing. The adj
iustment is to be made by commission
ers on principles Of justice and
equity" AS an evidence of the char
acter of the measure all attempts to
provide that careful estimate of the
property and the company's franchises
at something approXimating their true
value failed of success. The plan Seems
to have been cut and dried to push the
bill forward with the simple purpose Of
saddling the whole thing upon the gov
eminent by not only reimbursing the
promoters for their actual outlay Of
money, which it is claimed did not eX-
coed $4,000, 900, even though the sums
expended approached that sum, but to
give them an absolute bonus which
may fairly be reckoned at Sc, 900 900. 1t
is known that much of the work per-
formed in the way of cutting and
dredging was totally obliterated under
the influence of tropical rains. The ma
chinery, tools, dredges and boats have
been rendered practically useless from
exposure. 1t has been very appropri-
ately said by some one that under the
provisions of the bill the government
would be committed to pay for a pile
of old junk that would not pay for the
breaking up and transportation to IN
American market, while another char
acterization of the bill is given as one
which should be styled ian act intended
not so much to procure the cutting Of
a canal through the Central American
isthmus, as to insure the construction
Of a conduit from the United States
treasury to the empty Golfers of the
Maritime Canal company
The facts are. the time has passed
when the Nicaragua or any other 18TH
milan canal can be Of any advantage to
American commerce: and as for it's
utility as a passageway FOR naval YES
sells, the probabilities are that the oc-
casion is very remote indeed when a
man-of-war ship will be under stress
similar to that associated with the
voyage of the Oregon around Cape
Horn in order to join the fleet at San
tiago. 1t has been pointed out, too,
that in the event Of hostilities between
the United States and any foreign DOW
er, the canal could only be useful to
this country by the defenses at both
ends being under our own absolute
control This can be provided for, of
course, if the waterway is to be ex-
clusively United States property But
there are no statistics available which
indicate in what manner the revenues
from the canal are to become sufficient
to warrant the cost of construction and
maintenance.
The scheme is one that NAV we'll be
dismissed from further consideration.
The numerous transcontinental lines
have rendered the existence of the
canal superfluous.