The times. [volume] (Washington [D.C.]) 1897-1901, 1899-01-22

point all engineers in the service of the
company. SE
Said canal company shall hay into the
| Treasury of the United States quarterly the
official salaries of said engineer officers
who are detailed from the army. while In
the employ of said company. and in addi-
ton thereto shall pay TO said officers sum
| equal to 20 per centum of such salaries in
full compensation for their services while
| they are so employed.
Sec. H. That the said Maritime Canal
Company shall not issue any bonds or ere
ate any liens or mortgages except as here
| in provided, and shall not endorse or guar
antee the paper, contract, or obligation Of
any person, persons, or corporation what
soever.
Sec. u. That the President of the United
States is authorized to arrange by agree
ment with Nicaragua and Costa Rica or
both of them, or with the grantees holding
concessions from either of those states, to
acquire all the rights and privileges that
may be necessary and TO secure any change
or modification in the terms of the con-
cessions granted by said states which he
shall deem just and for the best interests
of all who are interested in the Nicaragua
Canal: and he is also authorized to submit
to arbitration in the manner provided for
in said concession or otherwise any matter
TO said canal, or that relates TO any claim
or right in said concession, or any of them
Sec. 10. That If the President shall be
unable 10 secure from the governments of
Nicaragua and Costa Rica such conces-
sions as shall enable the United States to
build and perpetually own and control said
canal, the President is authorized to nego-
tate for the control of, or the right to
construct, maintain, and perpetually con-
thar
lantic and Pacific oceans, and the Presi-
dent is requested to negotiate for the alb
rogation or modification of any or all
treaty obligations, if any such exist, as
shall in any wise interfere with the con-
struction, ownership. and perpetual con-
troll of any such canal; provided that no
payment shall be made under the provi-
sions of this act to or for the benefit of the
stockholders of the Maritime Canal Com
pany. or for any of its property, unless the
President shall decide to construct canal
under the concessions granted to said
company.
Sec IA. That it is hereby declared that
the neutrality of the Nicaragua Canal is
guaranteed by the United States, as the
same is provided for in the concessions
made by Nicaragua and Costa Rica, which
are the basis OF this act, thereby securing
its innocent use by all maritime nat ons,
On eQuai terms as 10 TORS ana an the priv
ileges of navigation, as the same are con-
coded by said republics, and with tie
reservations therein provided, reserving to
Nicaragua and Costa RIGA and securing 10
them the special rights for which they
have stipulated in said concessions, respec-
lively; and the good faith of the United
States is pledged to this dec.ai alton. The
Nicaragua Canal being a necessary con-
nection between the eastern and west I'm
coast lines of the United States the right
to protect the same against all Interrupt
lions. and at all times. is reserved and
excepted out of this declaration of the neu-
trality of said canal and Its free use b.
other nations
Sec 10. That the Secretary of the Treas
ury is hereby authorized and required 10
limit the payments of the appropriation
made in this act so that such payments
shall not exceed the sum of $40, 600, coo in
any fiscal year lEE
Sec 16. That Congress shall at all times
have the power TO a ter, amend or repeal
this act.