The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1909-04-09

by this new company, and engineering
data obtained which has been made
use of by our government, but funss
were not forthcoming for sufficiently
active prosecution of the work OF
canal building, and in 1898, when this
government was actively considering
the cutting of a canal through the
Isthmus at Nicaragua, negotia tions
were taken up by the new French
assets to our government. The new
French company at that time asked
one hundred and nine million dollars
or about thirty cents on the dollar OF
amount actually expended on the canal
A commission appointed by congress
all we could afford to pay for the
property that amount representing
practically the increased estimated
cost of construction of the Nicaragua
canal as compared with completion of
the Panama canal. Not until one
branch of our congress actually passed
Il measure ordering work commenced
on the Nicaragua canal did the French
company. whose concessions were about
expiring on account of time limits. and
whose canal if built would have slight
show of profitable operation in COM
petition with one owned by our gov
ernment in Nicaragua, did the French
company agree to accept price of forty
million dollars for their properties.
This, of course, was contingent upon
ability of the United States govern
ment to obtain proper concessions from
the Columbian government, and in the
final outcome of negotiations with that
country was afforded striking illus
tration of the evil effects of greediness.
The representatives of the Columbian
seven millions of dollars perpetual con-
troll was to be given over strip to
constitute the canal zone, but the CO.
lumbar government, thinking it saw
an opportunity to get in addition to
these seven millions, large portion,
, if not all of the forty million dollars
by FORGETTING the rights and confis-
eating the property of the French COM
pany, failed to confirm the treaty
agreed to by its representatives. This
action on the part of the Columbian
government was followed within a
week by the secession of Panama
which up to that time had been a
province of Columbia, and formation of
an Independent republic of Panama
Columbia sent an army consisting of
fifteen officers and about 400 men to
Colon to subdue the insurgents, but
the army was unable to get to Pana-
ma by lack of necessary railroad fare,
and only the officers were able to
cross the isthmus, and these were
made prisoners on the day of their
arrival. A Columbia gunboat in the
Panama harbor sent notice of bonn
bardment of the city if the prisoners
were not released within certain
number of hours. and when that time
passed actually did fire one shot. which
killed one Chinaman, and this con-
stituted the first, last and only bat
tie of the revolution. The soldiers on
the Colon side were sent back to
Columbia by the new Panama govern
ment, and the latter at an early date
was duly recognized by the United
States and other countries. In new
treaty then made with the Panama
government, somewhat wider strip of
territory was coded to this government
and payment of ten million dollars was
: made, to be followed by annual pay
ments of two hundred and fifty thous-
and dollars each after nine years
Today Panama has six million dol
lars out at interest i'll American secur-
tiles, its credit is good, and its per.
manency well established. while Column
bia is seemingly on its last legs finan-
clally, the rate of exchange for gold
Iof its currency about twenty thousand
to one.
The estimated cost of completion of
the lock" type of canal when the
United States took over the property
was one hundred and thirty five mil
hons of dollars. This with the fifty
millions paid the French company and
to Panama, would make one hundred
and eighty five millions as estimated
cost few years ago This did not
include enormous expenditures found
necessary for sanitation of the canal
zone, nor did it adequately represent
actual cost of the canal construction
itself. The present estimated cost is
approximately three hundred millions
all told. The completion of the work
involves the moving of about one hun.
dred and seventy five million cubic
yards of earth, and the placing of
between five and six million cubic
yards of concrete. About one third of
this earth mas been removed and at
the present rate of excavating the
canal should be completed, excepting
for the locks and Gatun dam, inside
OF three years. 1t is not unreason-
able to expect that within these three
years new devices for expediting the
work will be put in use, SO that the
time of completing the excavation will
probably be less, rather than greater
than that named. No complicated engi-
neeilng problems remain, and it seems
now to be simply a question of time
and money. The construction of the
locks and of the Gatun dam will posi-. |
Div take more time than fhic ond vof