The Washington times. (Washington [D.C.]) 1901-1902, 1902-06-12
Mr.. Fairbanks Says Prop
erty Can Be Bought
Free and Gear.
EXP0UNDS LEGAL STATUS
Suggests That Cost of Canal Can Be
Met by an Issue of Bonds, DISTRIBUTE
ing Payments Over a Number of
Years.

One of the strongest speeches yet made
in favor of the Panama route was de-
livered in the Senate yesterday by Mr..
Fairbanks of Indiana.
The Indiana statesman is one of the
foremost lawyers in the Senate. and his
views on the validity of the title which
the United States can secure to the Pan
anna property were listened to with
marked attention. He spoke for over an
hour and during that time made some
very strong points.
Replying to Senator Mitchell's speech
on the subject of title TO the Panama
route, Mr.. Fairbanks said:
1T is asserted with much apparent
confidence that if we acquire the prop
erty we would take it subject to innu-
merable demands of stockholders and
creditors, and that We would find our
selves involved in vast inextricable con-
fusion and legal difficulties. I do not
think that the contention is well found
ed, and believe that the United States
will take the property. If it shall pur-
thsASO H. AAtt anu Oh all demands
of stockholders and creditors, and that
1t will not rest under any legal. equita-
Bile. or moral obligation to pay one dol
lar beyond the $4,000. 600. the price
asked by the Canal Company,
Denounces French Frauds.
Mr.. Fairbanks Joined Mr. Mitchell N
denouncing the frauds which have
heretofore surrounded the Panama en-
terprise. They do not, however, con-
Germ us" 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 of
the United States Will be derived in an
entirely legal and proper way. 1t will
not come from those upon whom rests
any stain or blemish."
Mr.. Fairbanks urged that the cost of
he canal should be met by an issue of
Jonds, so as to distribute it over series
II years and make no extraordinary
lraft upon the Treasury that might in
erfere with needed internal improve
nents.
In conclusion. he denied that anybody
Z the Senate favored the Panama route
n order TO delay the construction Of
ny canal. and he did not for one mo-
nent believe that the Canal Commission
ias inspired by that motive. He had no
oubt that the Commissioners recon-
1ended the Panama route because they
elieved as scientists, as men of large
Experience, as patriotic Ainricans, that
he adoption of their recommendation
'ould accomplish in the best possible
manner the result We have in view"
Weight to Be Given Expert Opinion.
Continuing. he said:
My predictions and opinions, found
d upon fragmentary and unsatisfactory
were entirely in favor of
he Nicaraguan route. But il weight is
o be given TO the opinion of our own
commissioners. men of expert
nee and capacity, We must discard the
;icaraguan and select the Panama
QUITE.
The commission has given us in much
etail the obstacles to be overcome and
he relative advantages of the respective
outes. together with the relative cost
( construction and cost of operation.
he estimated cost of construction OF
he Nicaraguan route is S1S9. 1854 ,e62. The
ost of the Panama route Is estimated
t tincluding $40. 100000 price of property
D be acquired from the Panama Canal
s1S4 222 1858.
If we had but to consider the rela-
i've cost of construction of ther two
anals thus shown there would be
aving upon the Panama route of Sub
tantialiy five and one-half millions.
is perhaps true that it should not be
llowed to weigh against mere Lonsid-
rations of feasibility in construction.
peration, and maintenance. but mas
luch as it IS e saving upon route
eemed by the Commission to be the
iost practicable and feasible. il IS en-
rely proper to set down TO the eredlt
t that route a saving Of i've and one
alf millions of dollars.
Cost of Operation.
AFT will be observed that the Com
,jssion has disclosed singular and
rnortant fact. one which should be
stipctlv borne in mind. and that il,
,at II will cost 100000 less per an
nm to operate the Panama than TO
perate the Nicaraguan route. This sum
,nitalized on the basis OF the interest
non the national bonds. equivalent to
sr cent. amounts to s65,000,000 Add to
lis the amount saved in construction.
M we have a total sum to the credit
the Panama route of SIC. 500. 600