The Nome nugget., 1902-03-01
TWO IMPORTANT MATTERS.

The reports received by the NUGGET from Wash ington indicate that congress though in session but few days, was getting down to work in q commend able manner The most important event chroncled in December dispatches the Ratification of the Hay-Pauncefote treaty, which has immediate reference to the construction of the Niearaugua canal and which seems from its provisions to convey the absolute control of the canal the United States That the treaty negotiated is satisfactory to the great majority of the people is evident from the fact that only six senators voted against its ratification.
 There is now before congress the stupendous task of constructing the canal the essential feature of that task being in providing the means to build it. The estimated is $1S0O0OO0O, but, in view of the general prosperity of the country, the work of !Hroviding the funds will be hard, The elasticity of the nation is wonderful, indeed, and the ease with which it assume burden of this magnitude is evidence of the immense resources of the country. The completion of the Nicaragua canal is destined to : exert powerful influence upon trade and com merce. The great transcontinental railroads do not look upon it with favor For years they have fought the canal idea, not openly, but under Now that IS to be accomplished fact these corporations must prepare themselves for the changed conditions which the construction Of the canal will undoubtedly bring And yet the railroads have little to fear. The internal development of the country in the years come promises to be such that they will be assured a comfortable margin of profit. Their position as dctators of freight rates will be circumscrbed it is true, but the country at large will be able to view this with good deal of complacency.
 Another. perhaps the most important measure which congress will deal with at the present session. is the ship subsidy bill, which in all probability will be passed While believe the principle which it is sought to establish has its defects it cannot be denied that this country marine, as well as the development of shipbuiiding ships can not now be built cheaply in the United States as in other countries, but enlarged demand for ocean freight carriers flying the American flag will in it's, result in speedy lowering of !he of construction of such vessels. Within brief period after such goes into effect, American.buit vessels ought to supersede largely foreign ships in the carrying trade, especially of the Pacific.
 The subsidy to be paid is based on mileage traversed and tonnage of freight carried Steamships and sailing vessels admitted to share in the bene fits of the identical terms. The general subsidy is fixed at one cent per gross ton for every 100 miles travelled. This would give the 2,OOO-ton sailing ships $2O for every hundred miles traveled
 There is feature of present conditions in the carrying trade that appeals to Americans, who ordinarily would be opposed to the passage of such measure the ship subsidy bill. This is the fact that the of $200,O00,OOO is how paid annually to foreign ships, and this sum would undoubtedly be saved, besides affordng protection to commerce in the event of European war, and it will tend to ,re.create sea-going American element from which we can draw mtn to defend the country the Seas in the event of war with the United States, besides furnishing the government with auxiliary fleet to strengthen the navy in such an event.
 In an article entitled Pacific Races" published in the last issue of the NUcGEr Captain Conrad em furnishes whole lot of menta! food He advances the theory that at time, ages ago, the continent of America was joined to that of Asia, and that Der ing sea may have been the center of prehistoric world. We have heard the argument advanced that