New-York tribune., 1899-06-29
NEU CANAL ENTERPRISES.


Announcement is made Of the formation OF
new sthman canal company. with capi'ai
having the delightful range of from Soo'ooo ~
$3.50 900 600 It's object Is TO construct own anu
operate n ship canal across the Central Aiiieir
can isthmus On the one hand. profound secrec!
is maintained concerning its plans; on the o'Hei'
we are told that 1t has already secured not Only
one but half n dozen routes across the lstnhiu''
including one on which seaevel canal "l'h-
ont locks can be cheaply and quickly buut-aii
of which is interesting II true. There Is, now
ever. much virtue In an "lf." And we must con-
fess that the hypothesis of sea-level canal III
vests the entire enterprise with an unnis'ahapis
fshy odor Twenty years ago FERDINAND ue
Lessons talked confidently OF such CANAL ou'
he lived TO confess his mistake ana 10 confess
tho ,mpossibility Of constructing canal Win
o,,, ,ocke A revival of his visions at this time
l.. ,d,o No nloce exists where q lockless canal
oo,,,d no constructed without tunnels or enor-
n,ous,v deep cuttings and If 1t were In any way
constructed the difference In sea levers anu
be,oht of tides on the two shores would rehoer
lockage absolutely necessary.
Anort from this. however, the scheme as set
forth is open to two grave objections. one Is
that the company is free to obtain aid from any
fore,pn Government. That means or COURSE
thot such foreign Government Is to have super
r,sion and control OF the canal II Is lhcohceiN
able that a European Government Wouiu 'enu
s1oo 600 600 or any considerable sum for an en-
ternrise IN which 1t did not have paramount III
euance Great Britain invested less IMAM
500 OOoOOO in the Suez Canal but she mas ever
since insisted upon keeping in her own hahus
,ho 10Y IN its gates For any European POWER
M r,otter how friendly TO exercise such controi
o,-or q canal across the American isthmus would
ho s,mnlv intoerable. That may as well be un-
do-stood a+ the outset And for an American
oorr,oro+ion under an American charter, TO I'M
,o-.o,o 20 trrn over such a canal to such con-
tro, would be as poor business policy as 1t wouid
be poor patriotism
rho second point is that It Is not commenda-
bile Mt this time for any canal enterprises " oo
started. save the one which the Chlteu states
Government has in hand. The GoVernlhen' n''
gone seriously to work. 1t has appointed coli
netent Commission to survey the grouhu anu
select a route That work Will De done 'lo'-
ouoblv and expedtlously. When II IS done 'ne
Government will doubtless proceed without uh-
duo deIav 10 construct the canal or to nave 1t
constructed. 1t Is the part Of PATRIOTISM ahu' We
believe Of sound business principles 10 await
the action of the Government. Any rusnihe IN
with plans and claims and concessions Ut 'nis
time might be in entire good faith out II "ouiu
look much like an attempt either to fores'aH OF
to embarrass the Government or else 10 put en-
terprising promoters in positions from "nicn
thov would have to be bought or. we woulu
not Of course, even insinuate the possioiii'y oi
the present enterprise being actuated oy such
motives. We concede, on the face or H. its ell
tire good faith. But, even so. Its policy seems
nv no means commendable. AT least one Oh us
loading features is, as we have explained highi!
objectionable And its promoters Will nave only
their own untimely zeal to thank II they hnu
themselves subjected to unfavorapie cri'icisnn
and unpleasant suspicion.