Omaha daily bee., 1903-02-07
WHAT WE BUY.
Statement of Property included in the
Pnnam Canal Purchase.

BroOklyn Eagle.
This government does not propose to turn
over to the new French Panama Canal
company the sum Of $40, 900, 900 without re-
cetving adequate return. This money IL
not to be given as a payment for the rights
and concessions OF the French concern. but
is what our experts have decided the COM
pany is entitled to on account Of what has
actually been accomplished in the construc-
ton OF a canal. 1t is estimated that the ex-
oavation done on the route Is worth
S27, 900, 900, while the Panama railroad stock
at par is worth almost $1,000. 900. The
maps, drawings and records of the COM
pany are quoted at another 81, 900, 900, max
ing a little over $36,OOO,O 900 in all. To
this an addition Of 10 per cent has been
made to cover omissions, bringing the total
up to a round $40, 900, 900.
For this big sum OF money the French
men VIII give to our government among
other things about 10000 acres Of land.
which, with the lands belonging to the
railroad company, cover nearly all the
ground required for the actual construc-
tion OF the canal. Something like 1900
buildings will fall into the possession of
our government on concluding the bargain.
among them being offices, quarters, store
houses, hospitals, shops, stables and mis-
cellaneous structures.
There is an immense amount OF ma
chinery. consisting Of a floating plant Of
tugs launches, dredges and spare parts;
rolling plant Of locomotive cars. etc; sta
tionary and semi-stationary plant, including
excavators, cranes and pumps. In addi-
uon to all this there is a quantity Of sur
veying and other instruments. office sup
plies and stationery, surgical and medical
| Outdtq and rn{cnalIo,oo,o .,.rIt.- -
Ing thousands Of items.
The official estimate OF the time re-
CURED to complete the Panama canal is
ten years and the estimated cost is 1884,
100000. The Walker commission thought
1t would take eight years to build a canal
at Nicaragua, with a greater probability
OF exigencies causing delay at this place
than at Panama. The estimated cost of
maintenance and operation Of the Panama
canal is $1,000 900 a year less than the
proposed canal at Nicaragua. The Pam
ANA route would be 1874 miles shorter than
the Nicaragua route from sea to sea. with
fewer locks and less curvature, both in de-
grees and miles.
TIL estimated time for deep draft YES
sells to pass through the Nicaragua canal
was placed at thirty-three hours, as against
twelve hours for Panama, these estimates
being the time OF actual navigation and
not including delays for winds, currents or
darkness. II the passage we're made with
out interruption about a day could be saved
by the Nicaragua over the Panama route
by ordinary steamers handling commerce
between our Pacific ports and all Atlantic
ports, and about two days by steamers Of
the same class trading between our gulf
ports and North Pacific ports. The time
advantage Of the Nicaragua route would be
less in the case Of fast-powered steamers,
the use Of which is increasing. Between
Atlantic ports and the west coast of South
America the Panama route has the ad-
vantage of about two days, and between the
gulf ports and the west coast Of South
America the Panama route has the ad-
vantage OF about one day. The trade Of
the western coast of South America is a
very important one and has hitherto been
chiefly in European hands.