Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-03-20
OBJECTIONS TO
PANAMA ROUTE.
Majority and Minority Reports on
Same Submitted,
DANGER TO UNITED STATES


.-~----
Washington, March Ex-senator
Morgan, from the committee on 18TH
milan canals, today presented to the
senate the majority and minority re-
ports of that committee ON the ques-
ton OF the validity Of the title OF the
new Panama Canal company and us
right to transfer the Panama canal
property to the United States for AO,-
100000
The objections Of the majority to the
title held by that company are based
largely on the relations of the canal
company to the governments OF France
and Colombia, but the committee also
discusses at length many other phases
Of the question. Among these Is the
relation OF the shareholders who sub
scrlbed $3.50 900 600 to the old Panama
company, whose interests, the report
holds, cannot be lightly regarded ON
this point, referring TO the new ran
anna Canal company, the report says
Congress authorizing the president as
the agent Of our government to CON
duct a trade with such corporation,
without consulting France as to the
claim of independence which the new
Panama Canal company so .stfenuously
asserts viii be entirely new In the his
tory Of nations and its consequences
cannot be lightly dlsregarded.
q A A, 81
serious danger Of the United States be-
ing drawn into disagreeable relations
with large and influential body OF the
worthy people Of France, whose friend
ship for us has been cherished during
the entire life Of our republic, ana had
It's origin In magnanmous sacrlilces
for our country when this government
was in the travail Of It's BIRTH Unfor-
tunately the report OF the lsthnlan
canal commission reveals the TACT that
the men who made this offer are chlel
among those who defrauded these tOO,
900 or 500 600 Frenchmen OF H5OOOOOOO
Speaking further Of the obligations of
the new company TO the old, the major
ity says:
III Mr. Eiffel and his associates get
$40 900 from the American people, II
Is well that they are sheltered from
the claims of these defrauded and de-
spoiled bOndholders and stockholders
by the alleged despotism Of French
courts They would never escape JUS
tce In American courts, and would be
compelled TO account for every dollar
Of the money to the bondholders and
to the stockbearlng interests before
applying 1t to the profits OF their specu-
lation."
The minority report, which was pre-
pared by Senator klttridge, completely
upholds the title of the new Panama
company, as will be seen from the lol'
lowing extract which constitutes us
opening paragraph
THE title OF the new Panama COM
pany to its concessions ana other prop
erty appears from the facts ana docu-
ments which nave been latd Defore the
subcommittee, to be clear ana tree
from any complications. For transfer
OF us concessions to the United states
the consent OF Colombia IS requisite
but this consent has been given by the
government of that country as tully
as It can now be given IN case OF pur-
chase Of the canal by the United states,
different concessions ana dlnerent
rights must be obtained by treaty be.
tween this country ana COLOMBIA, ana
such a treaty would necessarily involve
a consent to the sale by the company OF
It's rights and property ON the isthmus
to the United States
such a treaty Colombia has shown
and declared its readiness TO make. In
every other point the right Of the new
Panama Canal company to transfer It's
property to the United Sttaes Is per-
fectly clear Every link IN the chain
OF It's title and every step IN the course
by which it became In a position TO
sell Its property free and clear, Is
plain and satisfactory
The report then reviews the entire
origin and history Of the Panama Canal
company and finds that the affairs OF
the old company were disposed OF by
a French court in straightforward
way when that company became In
solvent and that that court had a per-
feet right not only 20 appoint liquida-
tor or receiver, but to confer upon him,
as was done, power TO grant or com
tribute to any new company all or
part of the corporate assets"