PANAMA CANAL.
- FINANCIAL SIDE OF TOLLS EXEMPTION. Br Tolestrash—Pre*" A imclitlnr.—CopyrleM New York, March lfi. Professor Emery Johnson, in an address at a banquet; at Pennsylvania ■University, said that the taxpayers would be. obliged to meet a loan of four million sterling for the first ton years' operations of tho Canal. It was necessary to secure revenue of approximately four millions annually to meet the operation of tho sanitation annuity payable to Panama Republic and other charges. If all vessels paid tolls, tho revenue from the Canal at tho end of ten years would cover the annual outlay for operation expenses, and also c'nnrges upon tho capital. If American ships were exempted the Canal would not bo self-supporting. Professor Johnson declared that no doubt the intention of those who negotiated tho Hay-Pauncefotc Treaty was that the United States should be granted no rights that other nations did not receive.
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https://paperspast.natlib.govt.nz/newspapers/DOM19140317.2.26
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Dominion, Volume 7, Issue 2009, 17 March 1914, Page 5
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149PANAMA CANAL. Dominion, Volume 7, Issue 2009, 17 March 1914, Page 5
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