The Minneapolis journal., 1903-01-23
The Canal Treaty.

The announcement that the Panama |
canal treaty was yesterday signed at
Washington by Secretary Hay and DR.. |
Herran. Colombia's charge daffaires will
be received with pleasure by this nation |
which has been nettled by the persistent
procrastlnation Of the Colombian govern
ment. Colombia has been haggling over
the question Of permanent American con-
troll Of the canal strip and the annual
rental to be paid by our government, and
latterly has offered to refer the matter
to the arbitration tribunal at The Hague
Secretary Hay has managed this business
with fine tact and has insisted upon final
settlement now.
Colombia's greed made her overreach
the dictates of sanity. She demanded an
annuity of $500 900. which was emphatic-
ally refused. and O.0OO, 900 to be paid as
a lump sum. against the offer of our
government of $1,000, 900 lump sum and
100000 annuity. The treaty, as signed,
is reported to yield to the United States
practically perpetual control Of the canal
strip, together with the necessary police
control and protection Of the right of way,
and. while the exact terms Of the money
payments are not known al present, it
is certain that Colombia has abated her
exorbitant demands. The talk of revert
ing to the Nicaragua canal project doubt
less Influenced the action Of the Colom-
bian authorities somewhat, while Mica
ragua and Costa Rica both gave notice
that they would listen to no overtures
from the United States until the Panama
negotiations had been utterly abandoned.
The acquisition Of the Panama canal
route is q subject Of graduation. That
route is 134.6 miles shorter than the Mica
ragua route from sea to sea, with fewer
locks less curvature, and time of tran
sit very much shorter than by the Mica
ragua route. Under the latest plan of
the United States Canal commission, the
time, as originally Indicated, will be still
further reduced by the construction of a
deep artificial lake, through third of the
distance from sea to sea, using for this
purpose the discharge of the river Chagres.
This lake will not only facilitate the pas
sage Of vessels. but can be used as the
point Of meeting and passing each other
by vessels.
AS the bargain now stands, the coun-
try gets the plant and rights of the pres
ent Panama canal company at $40,0O0,0 ,000
a most reasonable price, with a fawless
title assured, and control over the cana
strip against local or foreign invasion
the United States becoming the warden
of an interoceanic waterway which is des-
tined to bear the mercantile fleets Of the
world passing to and from the Pacific
Provision has been made for the construc
ton of this great work, and payments
are to be made, under the amendment o
Senator Fairbanks. in gold bonds, to beal
interest at the rate of 2 per cent per an
mum. to be issued according to the de
mands and progress of the work, prob
ably at the rate Of 100000 a year
These bonds will serve to enlarge the
basis Of national bank circulation.
The construction of the canal will make
our West Indian insular acquisition ant
Cuban naval stations of manifest impor
tance. We shall doubtless secure th'
Danish West Indies this year. and Vene
zuela will probably be willing to sell IL
the Island Margarita. which will give III
command over the South Caribbean Sea
and so we shall be able to foil any posi-
bic foreign hostile movement against tn
isthmian canal.