The Montgomery advertiser., 1902-06-20
SPOONER CANAL BILL
OUTLINE OF MEASURE PASSED
 BY THE SENATE.
All the Franchises, Concessions, Rights, Plants, Unfinished Work, Etc, of New Panama
 Co. To Be Purchased.

Washington. June 1s-Ths Isthman Canal i, bill passed by the Senate today provides sub stantially as follows:
 Section 1 authorizes the President to acquire for the United States. at a cost not exceed | ing $40. 900 all of the rights. privileges, | franchises. concessions. grants of land. right of way unfinished work. plants and other property owned by the New Panama Canal Co. of France. the Isthmus of Panama, and all its maps. plans. drawings. records on the
 Isthmus of Panama and in Paris. including all the capital stock, not less. however. than sixty-eight thousand eight hundred and sixty
 three shares of the Panama Railroad Company
 owned by or held for the use of said canal company. provided a satisfactory title to all of said property can be obtained.
 Section authorizes the President to acquire
 from the republic of Colombia exclusive and
 perpetual control of strip of land not less
 than six miles wide from the Carribean Sea
 to the Pacific ocean and the right to use and
 vste, construct and perpetually to maintain.
 operate and protect thereon, a canal of such depth and capacity as will afford convenient passage of ships of the greatest tonnage and draft now in from the sea to the ocean this control to include the right perpetuaily to maintain and operate the Panama railroad. if the ownership thereof, controlling in- terest therein shall have been acquired by the United States: also Jurisdiction over the strip and the ports at the ends thereof to make the necessary police and sanitary rules and regu- lation and to establish judiciary tribunals to enforce the same: The President may also acquire such additional territory and right from Colombia in his Judgment will facili- tate the general purposes of the act.
 By section $40 900, GOO is appropriated to pay
 for the property of the new Panama Canal Company and sufficient amount to pay Co., lombia for the territory acquired from that dent is then. through the Isthmian Canal Com. mission, authorized by the act to proceed
 with the construction of the canal utilizing na as The canal is to be supplied with all necessary locks and other appliances. Provision is made for the construction of harbors at the termt- nus of the canal and for such works of de- fense may be necessary.
 By section the President is given the al
 formative authority of proceeding with the con
 struction of an isthman canal by what Is Known the Nicaragua route in the event
 that he Is unable to secure a satisfactory title
 to the property of the new Panama Canal Com
 pany and the control of the necessary terri
 tory from Colombia and after first having oo,
 tained for the United States exclusive and
 perpetual control by treaty of the necessary
 territory from Costa Rica and Nicaragua. the
 provisions as to tonnage and draft of vessels
 being the same in the section relating 10
 the Panama route. An appropriation is made
 as compensation to Nicaragua and Costa Rica
 for concessions and rights granted to tho United States. . Section 5 appropriates s1O.ooO, GOO toward the project contemplated and provides that ap- propriations not to exceed in the aggIe-
 gate the additional sum of s1SS. 100000 # the
 Panama route be adopted or s1so.ooo should the Nicaragua route be selected
 By section provision Is made that in any agreement with Colombia or with Nicaragua or Costa Rica. tine President Is authorized 10
 guarantee them the use of the canals ana harbors upon such term as may be arranged. for all vessels owned by their countries or oy their citizens .. Section creates sthman canal commit tee of seven members to be nominated by the President and confirmed by the Senate. They are to have charge of the construction or the canal and shall be under the direction and control of the executive. At least one shall ne skilled in the of engineering; at least one officer of the army and at least one or fcer of the navy Authority is given Tor tne employment of engineers from army and civfl life and other necessary persons The com
 mission is to make reports to the President;
 finder section authority Is given Tor the
 issue of slsO 900 per cent gold bonds to meet the expenditures authorized by the act They are to be issued from time tc time as the proceeds are to be required: are to be In denominations of $20 or some multiple of that sum redeemable after ten years and payable in twenty years. the interest t. he payaole quarterly in gold coin. They are to be exempt from taxation. to be disposed of at net less than par and to he open to popular suhscrtption.