The Republican. [volume] (Oakland, Md.) 1877-current, 1909-07-22

Cocktails recent estimate of the total
cost of thetcanal was 1890, 600. 600. Of
this, it appears. $50, 900, 600. plus the
$50, 900, 600 paid as stated above, or
Sl36, 600, 600 in all, has been spent so
far on the canal. and has already been
stated, S3l1, 900, 900 remains to be spent.
1t is by no means certain that the
SAY, 900, 600 provided will cover the
ultimate total cost. 1t is not unlikely
that in the end the cost will nave ex-
ceeded $500, 600. 600
This enormous total will be better APP
preciated when it is recalled that the
Suez Canal IN its present improved
folm cost but little over 500, 900, 900;
the Manchester Ship Canal, SO, 900, 900;
the Kaiser Wilhelm Canal, $40, 600, 600;
the Welland Canal, $4,000, 600; the
Chicago Sanitary and Ship Canal, S34,
OO0, 600.
viii the traffic using the Panama
Canal and the tolls arising therefrom
be commensurate with its estimated
cost of $500, 600, 600? In other words,
will the tonnage of shipping using it be
large enough to pay as much as per
cent, net on the investment? Esti-
mates of tonnage likely to use the canal
differ widely. Mr.. Nimmo some years
ago put the tonnage at under 200, 600
tons, while others were putting it as
high as 1000, 900, or higher. 1t was
held that the competition of the trans
continental railways of Canada, the
United States, Mexico and South Amer
lea would largely prevent the exports
and imports of the west coast of North
and South America from seeking New
York and Europe by way of the Pana-
ma Canal. Trade originating on the
Pacific coast of South America north of
Chile might seek the canal, but the
nitrate exports of Chile would find it
cheaper to go around the Cape, if canal
tolls We're to be paid at Panama. AS
for the trade of Australia, it would also
prefer the all-sea route eastward, and
the Suez Canal would hold most of the
trade of Japan, China, Ceylon and In
dia westward with Europe and the At
lantic Coast cities of the United States.
The barrenness of the route via the
Panama Canal was contrasted with the
traffic producing regions touched via the
Suez Canal and attention was called to
the superior coaling facilities of the lat
ter route
Doubtless the Southern, or Gulf ports
would profit by the shorter route to
San Francisco and the Orient, and the
existence of trade facilities would tend
to develop new traffic-producing areas.
But the competition of the transconti-
mental railways would prevent, it has
been argued, any considerable defiec-
ton of trade to the canal, just as it pre-
vented increase of the traffic Of the
Panama railway.
1t may be noted that the Hay-Paunce-
tote treaty IOrDlQS Lne CnJed States 10
discriminate in tolls in favor Of its own
citizens. They will haye. however, the
advantage, 1t is estimated, of a short
ening of the distance between New
York and the Pacific ports of South
America by an average of 5000 miles.
The political and naval advantages
derived by the United States from the
Panama Canal will be, however, so con-
siderable that its friends are ready to
put its commercial profitableness in the
second place. A long time must elapse
before it pays in dollars and cents, but
its existence will be an extremely valu-
able national asset.