St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1902-08-23

To secure money for the canal when the
company was at its wits end de Lesseps dis
tributed large sums of money among mem
| bers of parliament. The money was tc
induce them to vote in favor of his lot
terry scheme. Baron de Reinach, Jewish
banker, had charge of bribing the par
liamentarians. The French press was
bought up right and left, and new papers
were started by INSCRIPTIONS editors,
which doomed the scheme and helped drain
the Golfers of the company. The tale of
the bribing began to leak on: and the great.
est excitement prevailed in Paris. Rumors
were ahoat that de Renaca was to be ar.
rested, but the morning after the day the
rumor was started de Reihach was found
dead in his bed. Senators, deputies, cabi-
net ministers and editors were accused OF
receiving brides, and many one high
in authority trembled for his liberty
Many arrests were made. Charles de Les
seps, son of M. Ferdinand de Lesseps, made
confessions duplicating himself but not 9th,
ers suspected, and was sentenced to impris
onment. His father, as told above, was ar
rested and condemned, but was too i'll to
be taken from his house, and died year
after the disclosures which made known
to the world what is called the great Pan.
ANA scandal.
The directors of the company were put
into the Mazas prison to await trial, but
none of them were made to suffer heavy
sentence; a few months of light imprison
ment and then their freedom was restored
Work Accomplished by the Old Pan.
anna Canal Company.
bo IoJ
by the company, mounted up to $500, OOO, 900,
more than double the first estimates fo1
the finished work. Estimates differ as te
the fraction of the canal completed, varying
from one-tenth to fourth.
Under the existing contract the com.
pleted fraction of the canal, with all perma.
nent plant, was to revert absolutely to ths
Colombian government on March 3, 1892.
and immediate contscation was urged. A
continuation of the concession, however
was obtained for ten years, provided a rev
company should be organized by February
g. 1893, with sufficient capital to resume
work Sin serious and regular manner"
A special commissioner, appointed by
the receiver of the old company, reported
in regard to the actual value of what had
been done by the OLD company thus:
"The enormous amount. of material at
hand ready to be utilized, the great number
of works established, lands received and
to be received, labor actually expended, ex-
perience gained. supplies laid in Irelim-
inaries mapped out, including the right OF
way are worth to the new company at least
$50. 0OO, 900 francs Csc, 900, 0OO)."
In 1894 the court and those having legal
charge of the interests of the old company
gave out the following conclusions:
ssEirct-Thnt tho work Actually
plished by the old company in the is:hmus
was very large. substantial and avail
"Second-That notwith -tanding an Inter.
regum of four years, the work previously
accomplished was in satisfactory coEdi-
:Third-That the locations occupied and
the plant on the isthm1s had been well
cared for by the receiver, and were suf
fcient for the continuation of the work
without extensive and expensive prepara-
ton.
''Fourth-That the climatic dangers, the
difficulties of the undertaking. and the
cost necessary for its accomplishment, had
been grossly exaggerated.'
The New Panama Canal Com pany. |
Immediately after the Columbian gov
granted an extension of the time |
of concession stockholders, representing
10000 shares, met in Paris and agreed to
subscribe money to begin work again. The
new Panama Canal company was consti-
tuted in Paris October 81, 1894, all the
property of the old company being sold, con,
veyed and delivered to the new company.
The new company was organized with
cash capital of 65,0OO,0O0 francs ($l3, 000,O 0G
actually paid in). Work was at once com
and from 5000 to 1000 laborers
lave since been work on the canal.
The new company caused to be appointed
IN international technical commission,
which is composed, of engineers selected
rom the United States, France, England,
Germany, Russia and Colombia A specia.
presided over by the noted
NJ. Leroy Beaulieu, passes in
regard to matters of traffic and concerning
statistical and economic questions.
The United States Interest in the
Canal.
The United States, of course, has beer
in isthmian canal matters.
In 1868 a treaty was entered into be.
ween the United States of America and
he Republic of New Granada (now Colon.
oia), in which important questions in re
,ard to an isthmian canal were considered
colombia granted to the United States free
ransit, equality; tho United States guar
nteed to Colombia the neutrality of the
sthmus of Panama and the sovereignty OF
Colombia over that territory as long as the
reaty should exist.
And now our interest has shown itself
ctive. Now congress has passed canal
ill which authorizes the president of the
United States to purchase the rights, prop.
rty and franchises of the new Panama
ompany for $40,000,0OO if the new Panama
onpany can surrender an absolute title
o them. Provision is made in an amend.
lent for the issue of $l3O, 100000 worth
f two per cent. bonds to pay for the cost
f construction. The bonds will be of
cred to the public by popular subscription
Appropriation is made for slO,O0O,OO0 to-
Yards the project, and future appropria.
ions for the Panama route are not 4
xceed in the aggregate Sl35. 00C QOn !,