THE PANAMA CANAL.

Ashburton Guardian, Volume VII, Issue 1733, 6 January 1888, Page 3

THE PANAMA CANAL.

' C C:or Jaiico Armero. agent of tbe Colnn.bian Government on the isthmus respecting canal affaire, reports : — '• I have carefully travelled over the whole Hue of work, formed an opinion respecting it, and am now m poasofsion of correct data The an* ual reports presented to the shareholders by M. De Leseeps are partial, and thof-e of the directors of the enterprise fxagg'-rated and worthy of no credit whatever." Armero states that it will take the enormous sum of 508,299,000 dollars to compete the work ; and as it will be very difficult to raise this money, it is useless to deny that the finanoia* condition of the Company is alarming, m conclusion, he believes, after a careful investigation, that the traffic through the canal, should it be competed, will t>e m"eh better than has been est mated Da Lessf ps m. a letter to Premier Rouvier on November 15th, asking authority to raise a loan for the canal by tne isauo of lottery bonds, states that he is nego iating with his engineer for the purpose of insuring the digging of a passage across the isthmuß sufficient for the traffic of 7,600,000 tons yearly, reserving the completion of the work for the future, as m tbe case of the Suez Canal, de says tbe funds for completing the work will be derived ftoin the an ua l p ofita.