The Washington times., 1902-01-12
PANAMA CANAL SALE NOT
SANCTIONED BY FRANCE.

continued, think they saw a good thing
in the United States Government? Didn't
the company know that at some time we
would build canal and didn't the Pam
anna company think it saw chance to sell
US the unfinished canal when the time
came?'
NJ. Lampre was silent It was evident
that he was becoming very much discour-
aged, and, Judging from the expression on
NJ. Boeufve's face, he too was not salts
fed with the turn affairs were taking.
Interests of Stockholders.
How about the stockholders and the
bondholders," continued Mr. Morgan,
who, as you say, still have an interest Of
over S13,O00,000 in the company? Why
should they want to sell out? Who gets
this $40, ,OOO, 900 il we buy the canal?
French law may be all right, but from tho
proposition which you have laid before US
don't think that French law is just like
American law
Here, when man invests his money In
corporation, he is protected. because we
have very strenuous statutes which COM
pei the officers of the company to deal
squarely with those who have put up their
course, some unimportant legal proceed
ings.
Not n Safe Bargain.
You wouldn't sell that canal for $780,
100000. would you?" Senator Morgan
asked
M. Lampre said that he would not
Nor for twenty millions, nor for five,
nor for one?'
Again No"
And l wouldn't give you thirty-seven
and half cents for the canal under the
present circumstances. You know, as a
Frenchman, that the French Republic and
the American Republic have been friendly
for over hundred years. France came
10 our assistance when We were fighting
our battle for independence against Great
Britain. France. in all the years that
have followed, has never levied tribute
nor declared war against u.s.
Cannot Afford Enn,ifi,s
AS you have indicated, there are five
hundred thousand Frenchmen who hold
interests, great or small. in the Panama
Canal Company This Government cannot
afford to make enemies of these five hum
dred thousand and their children and
their relatives and friends by buying
something which. unGer our laws, we have
no right to buy without the full consent
Of every man interested, even though he
have but francs interest in the con-
Germ.
When 1 say that 1 wouldn't give s7h
cents for the unfinished ditch, / mean
that l wouldn't take 1t under any con-
sideration, because it wouldn't be fair to
those who have their money invested in
the company
No Further Hearing.
AS may be magined, Monsieurs Lampre
and Boeuvfe left the committee room not
feeling in the least cheered.
After the committee adjourned Senator
Morgan was asked whether the French
gentlemen would have a further hearing.
Il don't think they want one," said he.
They were all through before the COM
nittee adjourned this afternoon 1 ex-
pect to report the Hepburn Nicaragua
bill. which has passed the House. to the
Senate on Monday or Tuesday, and report
it favorably. There will not be any
amendments to it, either. ! believe.
II thought some months ago that ]
might suggest some changes in the bill,
but since l have looked over the whole
situation l wouldn't suggest the change
1f even q single WOTQ. Inc cdudi IS gu
ng to be built and work upon it is go
ng to start very soon. As SoutherDer
am anxious to dig the ashes off sore
# the southern Gulf States and let the
,mbers that are hidden there blaze up
lgain and that is exactly what the build
ng of the canal will do. And We won't
interfere with the business interests OF
he Panama Canal Company. either
Favored by President.
President Roosevelt is heartily in favor
# the canal as mapped out in the Hepburn
ill. Within the past three or four days
le has told some Senators and Represen-
atives that they had better dispose OF
he canal bill quickly. unless they wanted
o be called to Washington for an extra
ession in the middle of the summer.
Mr., Hanna's withdrawal.
The fact that Senator Hanna left the
ommittee room before the hearing was
.nded led to the unfounded rumor that
dr. Hanna had taken exception to the
way in which Senator Morgan was dealing
With the question, but the rumor was en-
irely unfounded.
Mr. Hanna left because of private
,nga agement which he had to keep He Is
Tot in favor of buying the Panama Com
,apy's property, and his vote will un-
loubte edly be on hand when the Senate
committee reports favorably the Hepburn
,iu