The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-08
Suspicious Because Ii Held Out for
SIO9,OOO. 900 Until the Holidays and
then Dropped to S40,OOO,OOO.
MR.. HEPBURN'S SET SPEECH
ALLEGED SUPERIORITY OF THE
PROPOSED NICARAGUA ROUTE.
Notice Given by MIR. Morris OF an
fdent to Buy the French Canal.

WASHINGTON, Jan. THE debate on
the Nicaraguan canal bill in the House was
opened in lively fashion to-day by Mr.. Hep
burn. chairman of the interstate and for
eign commerce committee. which reported
the oill. For two hours he held the floor,
replying to a volley of questions concern
ing the recent offer of the Panama Canal
Company 10 sell its property and franchises
TO the United States for S40O0OOOO. The in
terest in the debate centered almost en-
tirely in this new phase of the subject.
Mr.. Hepburn maintained that the alleged
new offer OF the Panama Canal Company
was part of the plan of delay. All his ut
terances along that line were literally ap-
plauded. He pointed out what he claimed
was the suspicious circumstance that the
Panama Company held out for s1O9.OOO.OOO
until il was decided before the holiday
recess TO consider the Nicaraguan bill. and
then suddenly dropped the price to $40,0OO,
600. Mr. Morris, of Minnesota, gave notice
that at the proper time he would offer
amendment to authorize the President. If
he could procure the property and rights
OF the Panama Company for $iO,OOOOOO. if
concessions could be procured from Colom-
bia and If the Walker commission so rec
commended. TO purchase and proceed TO
complete the Panama canal. The other
speakers to-day were AIessrs. Davis of
Florida, Richardson of Alabama, Mann Of
Illirois and Adams OF Pennsylvania.
In opening his speech Mr.. Hepburn said
the subJect OF a waterway across the 18TH
mus, connecting the Atlantic and Pacific
oceans. had been in the minds of the people
OF the world for more than four hundred
years. In the United States thirty-seven
States had instructed their congressional
delegates TO support a bill for an inter
oceanic waterway; all political parties had
aligned themselves in favor Of it, the sub
ject had been discussed in Congress, scien-
tiflc societies, newspapers and on the hust-
ings until there was now volume of liter
ature on the subject never before devoted
10 a single project.
Mr.. Hepburn said the report of the Walk
er commission gave careful consideration
TO every feature of the work. The bill sub
mitted by his committee proposed to con-
centrate all authority in the hands of the
President. 1t opened no opportunity for
defunct statesmen, or the pensioning of
persons who had been passed in the race
of life. 1t gave the United States the au-
thority to protect, defend and operate the
canal In view or all the reports submit
ted. Mr.. Hepburn said there could now be
no question in the mind of any wen-in-
formed man of the feasibility and practi-
cability of interOeeanic canal
THE PANAMA CANAL.
Referring to the efforts Of the Panama
Canal Company to build a canal by private
enterprise. he summed up their efforts as
follows: The company raised s256. .OOoO 900
by the sale of S4S5OOO.OOO of bonds and after
eight years the managers of the company
found themselves with the work less than
one-fourth completed. penniless and bank
rupt In money and character" The disaster
to this company, he said, proved concIu-
sIvely that the work should be undertaken
by government agency. There was not an
atom OF work in general engineering, said
he. yet TO be done. In favor of the
feasibility and practicability no enterprise
that had ever received the attention of man
had been so cOnclusively proved. II the
pending bill became law the work could
begin at once and should be completed in
eight years.
Mr.. Hepburn said that as a commercial
venture the commissions figures of 1000 600
tons could be safely taken. At the latter
figure the total revenue at the SueZ rate
would be 100000. enough TO meet the cost
OF maintenance CSS,500,O00), and leave over
s10.0000O TO meet interest charges II there
were such. Mr.. Hepburn pointed out the
advantages of the Nicaraguan route for
winds prevailing there, contending in this
connection that IL was a mistake TO SUD-
pose that the sailing ship was destined 10
disappear from the ocean. Where the
Panama route was located sailing ships
sometimes lay for five months in the
doldrums When MIR. Hepburn said he had
hoped that the proposed waterway would
be free OF charge 10 American ships there
was an outburst of applause on the Re
publican side. If that might be done, he
said. IL would give a great impetus TO
American shipbuilding-
In conclusion. Mr.. Hepburn said there
might be some interests in the United
States which believed they would be
harmed by the rivalry of this canal and
there were gentlemen Of honest purpose
who thought the time was not ripe for the
building OF the canal or that an enterprise
of such Magnitude should be undertaken.
They were. perhaps. terrified by the spec
ter of scandal But he concluded, II
insist that the American people have made
their decree that the canal shall be built
and that now is the time TO build it Zap
plauseI
Piled WITH QUESTIONS.
After Mr.. Hepburn had concluded his set
speech ne was besieged with questions.
Mr.. Shafroth. of Colorado. said: II should
Ike 20 know what Is the genteman's con-
structiOn upon this bill and upon the late
treaty that has been ratified as TO the
power Of the United States TO fortify the
canal?''
Mr.. Hepburn replied: II have no doubt
about the right OF the United States TO
defend that canal and 10 do IL in the way
that seems wise 10 the United States III
that Involves the erection OF fOrtiicatiOns
AT the termini Of thc canal. or OF stockadcs
at the sites or the important works. I
have no doubt about the authority or the
United States 20 DO IL, and that IL would
exercise its power"
Ar. Fowler. Of New Jersey. asked IL II