The Washington times., 1904-06-12
Strange Lack of Preparation and PreIimi.
nary Study on the Part of Promoters
of the French Company.

were based upon incomplete data For
none Of them could the amount of work
to be done be accurately determined AS
to prices and terms of construction, no
standard of comparison and no prece-
dent were available in order to fix them
When one reads the reports Of the ses-
sions of that commission one constantly
recognizes the inspiration of NJ. de Les
seps, one perceives the action of his will,
so persistent IN forming a general opin-
ion IN favor of a plan for a canal on
level. The discussions Of the commits
sion wero long. and sometimes very
heated. 1t clearly appears. however.
that opposition to the views of NJ
de Lesseps was manifested mainly
by abstainlng from voting. Thus,
at the time of formulating
their opinion concerning the conclusions
reached in the report of Voisin Bey,
forty members absented themselves, ten
abstained from voting. and only Eine-
teen voted, sixteen of whom voted in
the affirmative. And still. those con-
clusions were not yet wholly absolute.
Shares Gobbled Up.
In order to construct a canal on a
level through the Isthmus of Panama,
the route for which had been fixed
upon in a general way by the Inter
national Congress Of Surveys, an as
sociation was Immediately organized
under the name of The Universal In
teroceanic Canal Company" its capital
was to be 100000 francs. represented
by 10000 shares of 800 francs each.
The public subscription was opened
in Europe and America on the 6th and
7th of August, 1879. 1t was not a sue
cess. Only 100000 were subscribed for
Bitter attacks had been made upon
the enterprise. The amount of cost es-
timated was criticised as being too
small. and the amount OF the receipts
estimated was criticised on the ground
that It was too large. From a political
point Of view # was sought to arouse
fears Of hostility on the part of the
United States OF America.
While under prosecution Charles do
Lesseps explained the causes of this
violent opposition. and showed how his
father had succeeded in putting a stop
TO IL. He was obliged to consent to put
the financial management of the enter
prise in the hands Of a group Of persons
connected with journalism and finance,
who undertook to render public opinion
favorable 70 the enterprise. II is not
for US TO dwell upon this point.
On the other hand. however, in order
TO meet the repeated criticisms of the
insufnciency and inaccuracy OF the first
estimates, Mr.. de Lesseps decided that
new surveys should be made. In a let
ter bearing date OF August "a, 1879 IN,
which he admitted that the issue Of
the 9Th and 7th of that month had not
been successful. he announced that
those supplementary surveys would be
made with the approval of Mr.. Cow
reux and his associates, and that It
would not be until his return from the
isthmus that he would definitely organ
lie the InterOceanic Canal Company.
NJ. de Lesseps embarked December s..
1879, at st. Nazaire for Colon, where he
landed on the Goth OF that month.
An international technical commission
accompanied him. The organization OF
this commission had been provided for
and the work TO be done by II had been
defined by the conc ession law. Ac-
cording to article l, section 3, OF that
law, IT was to make the final surveys
on the ground. and 70 fix upon the
route OF the line OF the canal. II was.
moreover, charged with replying, by
the results OF its surveys. TO the critl-
cisms OF the opponents Of the new en-
terprise, or simply 70 the observations
Of those who did not look without fear
into a dark future.
On the 18th OF February. 1880, the In
teTnatial Survey Commission decided
upon the conclusions Of its report de-
termining the final conclusions con-
corning the construction of the Panama
Canal.
The estimates Of the work proper.
prepared by the international commits
sion, amounted 10 S43.OOO,OOO francs.
The commission At the same time ex-
pressed the opinion that with a good
and judiclous organization the work
could be finished in eight years II was,
as compared with the conclusions of
the congress. "A reduction Of 200 600 600
francs in the total cost and a saving of
four years In the time 10 be employed
in the construction.
NJ Ferdinand de Lesseps, however.
thought that he could still further re-
duce the estimates OF the international
commission. although they were al
ready notably lower than those OF the
technical commission OF the congress of
1873. He stated the reasons Of the re-
duotions made By him. IA a note writ