Year: 1879

WARRINGTON. July q 1872


The observauons Of NJ. de Lesseps. cabled to yes
tsrday's HERALD. concerning the resolution Of Gem
eral Burnside the neutrality of the proposed
Dsren ship canal have been read with interest here
In influential quarters. The nchoate project Of NJ
de Lesseps attracts close attention in political and
administration circles in Washington. The neutral
granted. Money has no nationality. But it is re-
marked that the corporation which collects controls
and expends money has and must have some nation
Atty because it must act under charter from
government. and will naturally look to the protec-
tion of that government to which it its corpo-
rate existence.


No one here wishes that the canal. If built shall
be otherwise than neutral territory, but behind
outside Of this arises another question-Who shall
maintain its neutrality? What Power shall police
1t. SO to speakf And this point it may interest
NJ de Lesseps and others engaged with him in
Europe to know that prominent men of both parties
here agree that the United States, and such other
American governments may join with them.
would insist on performing this duty and holding
this authority to the entire and absolute exclusion
Of all European governments. To make the point
clear to NJ dc Lesseps ana other foreign capitalists
the Panama Railroad may be taken an illustration
That railroad, which, the extent Of it's capacity.
performs work similar to that of ship canal
the Isthmus. uniting the two oceans. is largely
owned in Germany and England. but it is an
American enterprise from the fact that It's
charter granted by the Legislature OF
New York. Its offices are in New York and its man
ayers are Americans 1t follows naturally that the
United States government only maintains . con-
slant oversight over the safety of the railroad send
ing naval vessels down to the Isthmus whenever the
security Of theroad is threatened by revolutions
Nov~<~
n. De Lesseps Of greater consequence, the United
States would not allow the interference Of any Euro
pean Power with the road. and matter what party
might be. in power in Washington the government
would insist upon the exclusion from all exercise of
authority over the road by European Powers mat
ter to what extent its securities might be owned by
European capitalists.


What is thus true of the Panama Railroad would
be equally true Of the Panama Ship Canal II it
were built the American people would insist not
only that it should be neutral but that its neutral
ity should be protected enforced exclusively by
American Powers aud not any pretence by Euro
pean Powers.


The example cited Of the Panama Railroad may
suggest to NJ de Lesseps the advisabiity. whenever
his plans are likely to practical shape of
forming his company In the United States and making
it. ~ the Panama Railroad Company is. an American





ration though should draw the larger part Of
its capital from Europe. would have the sympathy
and be entitled to the protection OF the United States
foreign corporation would naturally not have the
regard OF the United States. and would. moreover.
be without efficient protection from any source be-
cause this country would not tolerate the interfer-
snce Of European Powers.


An influential American capitalist remarked on
this subject to-day that whenever If ever, NJ de
Lesseps 10 able to make practical beginning with
Darien ship canal In the United States are GER
tain to know it ut once. because he will hasten hither
to sesure charter for his company and to organize
the enterprise American soil and an American
adventure To do otherwise would be to make it
impossible for himself to obtain capital in Europe;
for European capitalists will require first OF all the
security Of protection at the hands Of the United
States. That M. de Lesseps has not so far taken
steps to secure American charter and to give to
his adventure distinctively American character is
sufficient proof that he has not yet got to the begin
nng that In fact the enterprise has taken no
practical shape"


1t is regarded as certain also that whenever such
m enterprise. either in the hands OF NJ de Lesseps
or in others. takes practical shape will be
careful re-examination of routes. because private
capital will not consent to accept any line arbitrarily
chosen without ascertainng that it IL the best Of all
Attainable.