The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-11-20
THE NEW CANAL TREATY.

The canal treaty which Mr.. Hay.
| Secretary of State. has negotiated
with NJ. Philippe Bunau-Varilla, the
I minister from Panama is much more
| favorable to the United States than
was the Hay-Herran canal treaty. AL
though its full text hasn't been given
out its main features have been made
public, and these were published in
our dispatches yesterday.
1t did not take long for the secretary
and the minister to agree upon the
terms Of the treaty. Panama was
more than willing to grant the United
States all the concessions necessary
for the construction of the canal. She
recognizes that the canal will be of
great benefit to her, and, besides. as
soon as it is completed she will begin
getting an annual rental from it.
In this new treaty the United States
are given a perpetual lease of the ter.
ritory through which the canal is to
pass and Jurisdiction over a section of
country eight or ten miles wide on
each side Of the canal The United
oNdNCo VIII "a dtAlGdAlS OWH LAlS strip
of country, though it is probable that
all revenues arising from it will go to
Panama.
There was talk to the effect that a
part of the SIC, 1000 900 which the United
States are to pay for the concessions
would be given to Colombia as a con-
sideration for the loss of the isthmus,
but 1t seems there was no foundation
for it. Panama wouldn't, in all proba-
bility, consent to give up any part of
the money, and there doesn't seem to
be any reason why she should. And
it is a question II Colombia would re-
ceive a part of it. She would consider
it beneath her dignity to take a part
Of it when she had rejected the whole
of it.
There has been some surprise ex-
pressed at the failure of England to
recognize the new republic of Panama.
Germany and France have recognized
it and why shouldn't England? The
latter is a commercial nation and the
canal is to be neutral. The truth prob
ably is that England was very much
disappointed by the refusal Of Colon
bia to accept the $1OOOO.OOO offered by
the United States for canal conces-
sions. The bonds of Colombia are
held by her citizens for a very large
amount of money. and she expected
that these bonds would be paid, or a
part of them at least, with the money
received for canal concessions. Now II
looks as if the English holders of Co
lombian bonds would lose their money
There doesn't seem to be much prob
ability that Colombia will ever be able
to pay her debts. England may be
thinking Of some means of collecting
the money due her investors, and for
that reason has delayed recognition of
the republic of Panama. If she should
adopt the plan of collecting from Co
lombia what is due her holders of Co.
lombian bonds that was adopted hy
some of the European powers to col
lect from Venezuela bonds owned by
their citizens. the United States might
have to do Colombia friendly service.
There isn't any doubt that the Hay
BunauVarilla treaty will be ratified.
1t will be discussed, and the President
may be severely criticised. but the
necessary number of votes to ratify it
will be forthcoming. The people of
the United States want the canal
built, and they have been waiting and
talking about it so long that they
wouldn't support the Senate in refus-
ing to ratify it, although they may not
altogether approve the means by
which the canal concessions were OBJ