New-York tribune., 1902-01-21

BeTWeeu Atlantic
ports and the west coast OF South America the
Panama route has the advantage of abou+ two
Gays, ana between Gulf ports and the west
coast OF south America the Panama route has
the advantage Of about one day The +rada oS
the western coast Of South America is a very
ropean hands. " 80
The Panama route is an old highway of COM
HlerCe' along which no considerable industrial
development is likely to occur. During the con-
struction Of a canal on the Nicara qua route
business relations would be established with
OoillInue- EXlstlng conditions indicate hy-
gienic advantages at Nicaragua though equally
eHectlVe sanitary measures must be taken in
both cases.
COST OF THE ROUTES COMPARED.
The offer received from the Panama Canal
company to convey all its properly including
al its interest in the Panama Railroad to the
United States, will make the estimated cost of
Ihe TWO canals as follows:
Nicaragua Observation-Disclosures se4 osa
'@iN' 1S4,2}:},:s5S
The transfer would give title to all the land
now held by both the Panama Canal Company
ana ana the Panama Railroad Company, which COW
ets nearly al land required for the construction
OF the canal The land held by private parties
g. a. Nicaragua must be acquired, and its acquisi-
Ion may prove expensive.
CAN GIVE A VALID TITLE.
The question whether the new Panama Canal
company can make to a purchaser valid title
TO the property formerly belonging TO the old
company, its predecessor, has been considered
anu answered IN the former REPORTS OF the
MISSION but IN view of its Importance. in con-
nection with the present offer the results of the
IIiHesugatlons made will be again presented
me Old company, in addition to its canal prop
trIy acquired under a concession from the Co
IoHOIan Government, owns nearly all of the
shares or the Panama Railroad CornDanv Ry
purchasing these il obtained the control of the
concession under which the road had been built
re iatter concession will continue in force until
I'oo' the canal concession is to for ninety
nine years from the day on which the canal
sha4! De opened TO public service and the date
LOT tHls IN the concession, according to its lat
est extension. is October 81 1910. When these
periods expire the different properties are to be-
!ohg absolutely TO Colombia without compensa-
uoh' ana the government is under no obligation
10 extend either concession
Inc canal company is absolutely prohibited
70 ctue or mortgage its rights under any consid-
~eIdIIoh ~ Whatever TO any nation or foreign gov
ernment under penalty of forfeiture The CON
tract with the railroad company contains a Ike
- psoi-lpItloh' and declares further that the pain
% ILetture VIII be incurred by the mere act of
attempting to cede or transfer its privilege TO a
.4i eisn government and such an act is declared
aosolute!y null and OF no value or effect
PROHIBITIONS WAIVED BY COLOMBIA.
But for the purpose of permitting the new
Sotlauons which have resulted in the present
oIer Colombia has waived these prohibitions
a. a-u mas authorized the company to treat direct
~ Win the United States with a view 10 the
use ana occupation Of the territory of the
IormeF Tor canal purposes, If our government
shou!d select the Panama route for an isthmian
canal After the old company failed a Nqui-
dator was appointed by the French court 70
take charge of its property and affairs When
lhe new company was formed he was author
lzed to contribute 10 II the rights privileges
plans documents, plant and unfinished work /
IN MS hands and under his control and in con- /
sideration Of this grant he was to receive so /
per cent Of the profits OF the enterprise after
,7i,-iza-5c =. - So anu St4Pu4SteC
dINoehos 10 De distributed by him among the /
parties in interest
This interest Of the old company is still under
the protection Of the liqudator. and he must be (
a party to any arrangement that may be en- (
tered into for a sale and conveyance Of thef
property. and. as he derives his authority from
the tribunal that appointed him. his action re- I.
qulres the approval and confirmation OF the .
court The papers before the commission show .
that the hquidatOr has agreed the PROPOSE /
thority.
A deed to the property executed by the canal /
company and the hquidator requires the ap- /
proval OF the government of Colombia. because Of .
the prohibition already referred 70 in the con
cessions. and for the further reason that the I
republic owns 10000 shares Of 100 francs each /
OF the stock Of the company, fun paid. OF which (
1t cannot be deprived without its consent
FURTHER STEPS NECESSARY.
Such transfer Of title thus approved would
give TO the United States the same right, title
and interest in the premises that the New
Panama Canal Company now has. but that
would not be sufficient. The existing conces-
sions thus purchased would be valuable only be-
cause their ownership by the United States
would remove the obstacles in the way Of negO-
dattons between the two governments for the
Of Colombian territory by the United
states foI canal purposes; but these concessions
are unsatisfactory and insufficient. and a new
must be made IL an isthmian
canal is to be constructed by our government /
across the Isthmus OF Panama.
The grant must be not for a term Of years |
but in perpetuity, and strip Of territory from
ocean TO ocean Of sufficient width must be placed
lncer me -NDtrol OF the United States. In this
strip tls Uri d States must have the right to |
enforce police regulations, preserve order pro- !
-ect property rights and exercise such other .
powers as are appropriate and necessary The
business relations between the railroad and
anal companies and the Colombian Government
must also be settled, and the consideration to be
1aid by the United States for the privileges and
tights TO be exercised in the future must be
agreed upon free from all embarrassment with
reference to past transactions.
The commission has power to enter upon
legoHations for the arrangement Of these mat
belong to the treaty making power
but the acceptance of the terms offered by the
New Panama Canal Company should be condi-
Toned upon their satisfactory adjustment
The advantages of the two canal routes have
'een restated according 70 the findings Of the for
ner report There has been no change in the views
IF the commission with reference to any of these
conclusions then reached. but the new PROPOSE
ion submitted by the New Panama Canal Com
oany makes a reduction Of nearly S7O00000O in
he cost Of q canal across the IsthmUs Of Pana-
ma. according TO the estimates contained in the
ormer report.
There is however. ore important matter which
,annot enter into its determination, but which
nay in the end control the action Of the United
States. Reference is made TO the disposition
II the government whose territory is necessary
or the construction and operation Of an 18TH
nian canal. It must be assumed by the COM
mission that Colombia VIII exercise the same
airness and Hberality If the Panama route Is
determined upon that have been expected of
Nicaragua and Costa Rica should the Mica
aqua route be preferred.
THE COMMISSIONS CONCLUSION.
The report concludes as follows:
After considering the changed conditions that
low exist, and all the facts and circumstances
based. |