The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1908-12-19

ny that company 70 the Emitted States
II was no concern Of the president o
Of any oflicer OF the executive depart
nent 20 Inquire IS a. what The Neg
Panama Canal company did with Ia,
Money which u r. AVID As mat
ter cf fact. lhe New Panama CGna
comlary did distribute tn money be
tween ~ shareholders and the share
holders % the preceding Pan4m.
Canal enml any N accordance with a..
decree ~ French court, and the rec
ords Of tie French court show who
we're III shareholders who receive.
the money but that IS no concern oil
0pfs
Attempt - FERN Amed-5n ccmrrn ,
tau your alttlii11 - n srcoh,
panyiLg Statement g. % ~ ait-Irr :,
form an American ,omraGy "a
iof nc pDsfcse 81 iaaLg 5yer
| DroIerty OF The French -cnpsn;
attempt proved GbcruSe. There VS.
no conccalment II rs enort &c nj
through this plan It's compete TAN
ufe AID abanccnmeLt BEING RrCWn tc
everyone. Tie important points SCI
forth IN the accompanying papers aud
N the papers 70 which have TeierIed
! ycn are as follows,
The investigation OF the history
physical condition and existingyalue OF
tie enterprise by the congress. result.
ing In the enactment OF the law Of
1902 authorizing the president TO &C.
miro Tho propaftv 90 ~ 900. - IN
100000 upon securing satisfactory
title and theTeupon 10 undertake the
work OF construction: the failure OF
the Americanization OF the enterprise
ia 1893; the transmission by me 10 the
congress from time 10 time OF full IN.
formation and advice as 20 the rela.
tons OF this government 20 transit
across the lsthmus and under the
treaties, as 70 the negotiations and
final acquisition OF the title, and later
as 10 the progress and condition Of
the work OF construction. the previous
authorization Of the sale 20 the United
States by the stockholders OF the new
company and their subsequent ratifica.
tion; the examination and approval of
the title by Mr. Knox the arrange.
ments for payment through J p Nor
gan a. Co as the fiscal agents OF this
government, and the payment accord
ingly at the Bank OF France upon
proper official receipts 10 the liq.
uidators acting under the decree ot
the French court, the French govern.
mental body having jurisdiction In the
matter, and finally. the subsequent ap.
portionIuent and distribution Of The
fund 10 The creditors and stockholders
Of the Two coupanies under that de
cree
Approved Every Action.
The Panama canal transaction was
actually carried through not by either
the then secretary OF state, MIR. John
Hay, or the then secretary Of war. Mr.
Elihu Root, both OF whom. however.
were cognizant OF all the essential fea.
lures: but by the then attorney gen
eral, Mr.. r. G. Knox. al present sena.
tor from Pennsylvania. I directed or
approved every action, and am respon.
sible for all that was done In carry
ing out the will OF the congress; and
the provisions OF the law. enacted by !
congress after exhaustive examination I
and discussion were scrupulously com
piled with by the executive. While |
the transaction WIS pending saw Mr. I
Cromwell but two or three times, and /
my communications with him were
limited TO the exchange OF purely for /
NAL courtcsles Secretary Hay DC
casionally saw him. In the same man
ner | doubt whether Mr.. Root held
any conversation with him. The AZ
torney general saw him frequently. as
he was counsel for the Panama com
pany, their communications were OF
fetal, as representing tho two sides
] enclose copios OF my correspondence
with Mr. William Dudley Foulke. who
first brought these scandalous stories
TO my attention, and with Senator
Knox and Mr. Cromwell TO whom |
wrote In response 10 the request on
gentleman who wished 20 know about
the stockholders in The Panama Canal
company
The TILE 20 the Panama canal prop
critics was vested III the New Panama
Canal company 81 France which was
the legal owner thereof, ard the old
or socallod ~ Lesseps company, had
; large equity therein
The title was not m New Jersey
company nor IN any other American
nor did ibis Povernnpni
have any dealings with an American
throughout tie affair
Opinion Approving Title,
The exact legal status. 70 the most
minute details, appears ii the ex
opinion % Attorney General
Knox approving the title 70 he given
% the United States. which clearly es
'ablishes that the only party dealt
With was ihe New Panama Canal com.
oany Of France with the concurrence
u The liquidator OF the old companyJ |
md not any American corporation ~
indicate. Tic action 81 the United
Sfutp4 rUN4Fp mon 4