Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1899-02-02
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Tho Nioararna d,annal

The passage of the Nicaragua canal bill
by the Senate last Saturday with only
siS votes against 1t improves immensely
the prospect of the early construction OF
long proposed waterway between the
two great oceans. The bill recognizes
the Maritime Canal Company which
started out to build tho Nicaragua canal
on its own account and with its own re-
sources. but which for years has been
appealing for government aid.
Under the Senate bill the company Is
to receive $5,000,O00 for its rights and
franchises, Is required to call in all the
stock issued except that held by Nicara-
qua and Costo Rica; to redeem and can-
col all bonds and scrip heretofore issued
by the company and to cancel all liabili-
ties. This, having been done, the govern
ment guarantees the company's contract
for tho completion of tho canal in six
years at cost not to exceed $115, ,OOO, 900.
The annual payments of the government
are restricted to 500, 600, 900, and the canal
must br large enough for the largest sea-
going vessel. ...
The company must give the govern-
mont lien upon the property to secure
the repayments Of moneys advanced.
A board of seven directors is to be ap-
pointed, five of them by the President of
the United States, to he confirmed by
the Senate, one By Nicaragua and one by
Costa Rica. The directors are required
to make full reports annually to Congress.
The government will not assume con-
troll of the canal. On the contrary, it's
neutrality is guaranteed, except that the
United States reserve the right to pro-
teot It against Interruptions of their bust.
ness between tho Atlantic and Pacific
coast. .a5 .,
Tho Nicaragua canal will therefore be
in about the same relation to tho United
States as the Suez canal is to England.
Though the passage of this bill by tho
Senate by such an overwhelming major
ity brightens the outlook for tho con-
struction of Nicaragua canal, there are
difficulties still in the way.
The passage of the bill by the House at
this session is by no means certain.
Ahoh tiolo are ull9I0uCoB D0GW90n Cue
Nicaraguan government and tho Mari
time Canal Company which may cause
complications. Nicaragua has recently
been dealing with another canal COM
pany on the ground that tho conces-
sions to the Maritime Canal Company
have been forfeited by tho expiration OF
the time limit. The construction which
England has always placed on the Clay.
ton-Bulwer treaty would prevent the con.
struotion of the proposed canal without
her consent. but it has been stated on
good authority that no obstacle will be
thrown in the way of this work by Eng.
land and that negotiations for the abro.
cation of the Clayton Bulwer treaty will
soon be opened.
Tho Nicaragua canal never before
seemed 30 probable as it docs now. But
tho now French company is at work at
Panama on big scale and apparently
| with all the means it needs. "
We may sec race between these two
great enterprises, but, somehow or other,
tho two seas which are so narrowly
divided will, within Che next few years,
be joined by one canal, if not by two.