The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-12-31


tingsy :so6, 100 purchase Of shops and lands.
S54, 71b: purchage OF Panama ~ Railroad
stock, Sl56. 65 YAK 5 5Sts
8 The obablef expense # completing the
canal can be- calculated Approximately
The former fsthmian Canal Commission
estimated i hat the rock and earth Srenov-f
aalsSwould cost 80 cents a yard. Actual,
work in Culebra the past year shows
{ that tho cost will be only 80 cents AZ
YARD. SO that tho simple digging 81 this
greatest al itch Hi the world will involve
an expendl tureE of s125, 900 900 II carried to
sea level, and about, ;65, 900 If the canal
is construct cd wi til q ooks. q ,.5 sst
.es Hnr bors d red gings has been done in the;
United U States III many places for nine
centss a yard or even less, but at such;
q distance and under the conditions that
will govern work at Panama, It may we'll
cost rs cents q yard. The test borings
have been sufficiently extensive at this
s time to ssho to practical men about what
is to be encountered in DO TIL harbor.
dredging ana swamp dredg ing, and, there
fore. these costs are known wit a close
approach to accuracy. II II oWever, d great
& part ofEthc expense may come With: the.
unfgurable IF conditions growing out OF
yellow fever ep1demics and general de-
moralizaton Of both laborers, contractors
and the engineering corps. gS8 "a
We ! The total stimates Of the cost 8of the
canal have varied from a hundred and
sS fifty to two hundred and nfty. million,
VI according to gtheHp plan, while the Congress
sional afsIropriationS8is Las, O00, OGO, n. nm
amount generally agreed to be-. insufl-
client. Probab bly, Congress thought itSwell
not to begin by a ppropriating TOO liber-
q ally, as such works always seem 81 o Eex-
coed the appropriations. The chances are
that before tho work Is done $100, 100000
B Will have to be raised III addition to the
appropriation, whe Their the canal is built
at sea level, or wi Til an elevated section
through&the Cord rllas. * 3
A Popular Bond Issue. $ $4s
4 It is possible that's thisltva st. sum IL
money will not be takenebodll 81 from the
national treasury oplllnrsS bond Issue
OF $3.50, 900 0CO has been suggcste ted. q nd y
IS likely that such a plan could be adopt
ed satisfactorily. nanciers would rs PC
anxious to get hold of these bonds ana 9
vantage. The Spooner3 Act, upon. which
the original appropriation Of s60,Do0'O'y
a3waA nude, n authorizes q bond issue q
$40, 900, Goo, in gold bonds, md that MS
A NAV be made popular loan, he demon
nation OF the securities has been !l' Se9
at 80 or 1nultiples Of that 81 M, MI,
An appropriation Of sloo Voo,oVo 9Wouiu ~
a serious Dram ~! ll!g -,
and 81 has been suggested that 4 ne EN first
proceeds OF such bond sale s* :i " q
Contemplated by tho spoone!r act t' be Dc
voted to paying back into the TREASURY
the sGo,ooo 900 orr appropri'ahtte'd . !.
This would place part OF the burden Of
the canal bonds on a future generation,
and would 10 but Just, since tina !. aene raT
ton would reap tho fullest beneflt from iron
tho canal project. The tpnd clause Of
.the spooncr act contn!ns an authoriza--
Tim FOR the expenditures of moneys 81
rived from the sale of canal bonds TOT !
any and all expenditures on account o'lr or
the canal, and it is believed that the
making good OF the deficit in the treas
ury caused BY the original appropriation
IN this manner is within the power Or
the government, y. !.
review Of tho entire project, as lt
stands to-day, gives one faith . that p :.
America will add one more laurel TO the
national brow, by completing this truly
stupcndous work, ana thus mutt Inc
the worlds commerce. Let us hope that
If may be accomplished without any OF
the financial scandals that swainped y ms h!e
previous undertaking, and that are "a go
apt to creep In where 80 much none -
being spent; also that tho terrible loss
of life that accompanied De Lesseps'a
abort!va endeayorY may not find q reps l-
tIon in Ills history tlset 8wil be made ~
the coming decade, III II e q