The evening times. [volume] (Washington, D.C.) 1895-1902, 1902-06-11
Believes the Price Should Be
Raised By Means of a
Bond Issue.
CAN SEE NO LEGAL OBSTACLE
Senior Senator From Indiana Addresses
His Colleagues Upon the Validity Of
the Title to the Canal Property.
Words Listened to With Attention.

Senator Fairbanks of Indiana ad-
dressed the Senate today In favor Of the
adoption of the Panama route for the
isthmian canal. Because he IS recog-
nized as one of the foremost lawyers of
the Senate his views, especially with
regard to the validity Of the title which
the United States can secure to the
Panama canal property, were 1iste1ed 10
with much interest.
On this point, answering the speech OF
Senator Mitchell, Mr. Fairbanks said
that a perfect title could be obtained.
He said:
Believes Title Clear.
1T is asserted with much apparent
confidence that If we acquire the prop
erty we would take it subject to innu-
merabIe demands OF stockholders and
creditors, and that We would find our
selves involved in vast inextricable con
fusion and legal difficulties. do not
think that the contention is well found
ed, and believe that the United States
viii take the property, if it shall pur-
chase it. free and clear OF all demands
Of stockholders and creditors. and that
1t will not rest under any legal. equita-
bic, or moral obligation 10 pas. one Sos-
lar beyond the $40. GOO, the prics
asked by the Canal Company
Denounces French Frauds.
Mr. Fairbanks Joined Mr.. Mitchell
denouncing the frauds which have
heretofore surrounded the Panama en-
terprise- They do not, however. con-
Germ u.s. he said; nor should they de-
ter Us from the use of a valuable route.
which nature has partially prepared for
the purpose OF commerce We take the
property free from any faint The title CT
the United States viii be derived in an
entirely legal and proper way. It viii
not come from those upon whom rests
any stain or blemish."
Formerly Favored Nicaragua.
Mr.. Fairbanks said that he had IA
vored the Nfcaraguan route until Con-
gress had authorized a comparative ex-
animation OF the advantages Of the Pan
ana route, which had resulted IN
unanimous report by the Canal Com
mission in favor Of the latter. He paid
high tribute to the engineering and
scientific ability OF the members Of that
commission Commenting upon the fact
that when the Panama company asked
an exorbitant price for its property the
commission reported in favor Of the
Niearaguan route. and when the com
pany reduced its price to the reasonable
one Of forty millions the commission
urged the adoption of the Panama route.
Mr.. Fairbanks said:
s4The second report is precisely the
result which would have been reached
in the first report ii the canal company
originally had not put upon its prop
erty an unreasonable price The con-
mission has acted with entire consist
ency, and the reason which led it to re-
consider and change its recommendation
OF route are absolutely sound and con-
/ trolling
Denies FHibustaring Charge.
Mr.. Fairbanks urged that the cost OF
the canal should be net By an issue OF
bonds. so as to distribute it over a series
OF years and make no extraordinary
draft upon the Treasury that might IN
terfere with needed internal improves
ments
IN conclusion, he denied that anybody
IL the Senate favored The Panama route
in order to delay the construction OF
any canal, and he did not Tor one mo-
meat believe that the Canal Commission
vas inspired by that motive. He had no
doubt that the Commissioners recon-
nended the Panama route because they.
| believed as scientists, as men of large
experience, as patriotic AFRICANS, that
the adoption OF their recommendation
would accomplish in tie best possible
manner the result We have in view