The Monmouth inquirer., 1926-10-21


the Suez route. while "a nations we're
represented In the maritime caravan
at Panama.
The World War was not the only
unexpected factor in bringing Pana-
ma so quickly to equality with suez.
nor the most important. The enor
nous increase in Panama traffic in
1928 was represented almost entirely
by petroleum and its products, NOV
ing from California to the east coast
and Europe In the year ended June
30, 1924, toIls aggregating s24,290,0o0
were collected, of which $9,071,000
was from tankers carrying petroleum.
An even more striking statement OF
the matter is that for the same year
exactly SO per cent Of all tonnage
through the Canal was between the
two ocean fronts OF the United
States, that is. 1s,50o,o0O tons; and
OF this, considerably over 100000
tons, or more than two-thirds was pc
troleum. II was of course chiefly
from California, en- route to eastern
retineries. In the succeeding year
this petroleum movement fell OF
heavily; but for 1926 it is again in
creasing and the increase is likely to
continue for many years. But for the
petroleum traffic, the Canal would
have shown a deficit IN every year OF
its operation
The enormous petroleum business
has been il other ways advantageous
to Panama A constantly increasing
proportion Of maritime shipping now
adays uses oil fuel Oil-burning ships
seek routes on which they can most
cheaply buy oil; and because Cali.
fornia oil can be put so cheaply into
the bunkers Of vessels passing
through the Panama ditch, there
is substantial tnducement to
prefer this route This win In
.creasingly favor Panama and mill
tate against Spez, as the number
of oil burners increases. Moreover,
Panama's advantage win stil further
increase as the enormous oil re-
sources Of Venezuela, Colombia. and
other South American countries
are developed
Great Service Of Panama
If cheap petroleum has thus served
Panama SO well, Panama IN turn has
equally served the American motor
list, who consumes most Of the worlds
petroleum products. For Panama has
brought the Pacific Coast petroleum
to the eastern market at costs which.
but for the Canal would be vastly
greater. Thus the Canal has given
the United States the cheapest pc
troleum products in the world, and
helped build the automobile industry
and our modern highway system.
This mutually helpful relationship
between the Canal and the petroleum
users is the more impressive when
one realizes that 1t was not even re-
motely anticipated at the time Presi-
dent Roosevelt started building the
Canal. So late. indeed. as 1910, when
Admiral Evans wrote his articles
about the Canal and decided that it
could not be profitable for several
decades at least, he based all his cal
citations on the probable cost Of coal
for bunkering ships. He did not
dream that merchant marines we're
on the verge Of the revolutionary
change from coal to oil So he figured
that. as there is practically no bunker
coal in the countries bordering on the
Pacific. that ocean could NOT COM
pete. by way OF Panama, for a great
" increased share Of shipping The
oil development overturned the proph-
eeies OF Admiral Evans, and OF all
others who had foreseen that fuel
problems would make Panama i'm.
pEontaAls-
-