THE SUEZ CANAL.

Evening Star, Volume VII, Issue 2056, 7 December 1869, Page 3

THE SUEZ CANAL.

The Suez Canal extends from Port Said on the Mediterranean to Suez on the Ked Sea, and is about a hundred miles in length, twenty-six feet deep, and wide enough in all parts to permit vessels to pass each other without inconvenience. A great part of its course lies through shallow lakes, other parts through stiff soil, and a length of only tw nty-two miles is in any danger from drifting sands. It is estimated that the maximum amount of drift sand, and of deposit caused by wash, which, when the canal is completed, the company will have to remove every year, will be 050,000 yards, and that the expense of dredging this will not exceed L40,1i03. It was supposed at one time that the drifting sand wou.d obstruct the canal, and that the banks, being of sand, would fall in. It is found that in a very few places is there any inconvenience from drifts, and that the banks of the canal, where the sea water has been let in for any time, are becoming consolidated through the growth of seaweed and other marine vegetation. During the progress of construction the company have dredged in every month four times as much stall' as they anticipate to have to do i.enceforth in a year. It was supposed, further, that the silt at Port Said and at Suez would prevent these harbors from being kept permanently open. It was found, however, that the silt, composed of desert sand, extended ‘not cpiite half a mile from the shore, and that beyond this a compact mud bottom appeared. Moles have therefore been thrown out beyond this belt of sand, and harbors formed, whose mouths are never in danger of being closed. These obstacles, which were considered at one time, in England especially, as fatal to the undertaking, have thus been successfully overcome.

The total cost of this gigantic work, including interest on the capital originally subscribed, which has been paid to the shareholders during the course of construction, will be nearly seventeen millions s'.crling. The original capital was eight millions in 400,000 shares cf L2O; more than three and a half millions of this was subscribed by the Viceroy of Egypt, who holds 177,642 shares. Four millions more hare been raised on bonds. The rest of the cost of construction has been derived by the company from other sources, the principal amount being a sum of nearly three and a half millions sterling, paid to the company by the Viceroy of Egypt in consideration of certain concessions originally granted having been revoked. The principal concession was, we believe, the right to employ forced labour, and it would have been indeed a disgrace to civilisation if this right had not been cancelled. The canal, therefore, after paying its working expenses, must pay the interest on the four millions of bonds which yield about at the rate of 10 per cent to the original holders, and will be divisible as net profit on the original capital of eight millions* The company are authorised to charge for transit ’din's a maximum of 10 francs, or about eight shillings per ton, and 10 iruncs per head for each pass: nger carried. M. dc Lrsseps originally estimated the tonnage that won!I pass through the canal at three millions yearly. Of late, however, he has altered Lis views, and believes that in the second year after the opening of the canal the tonnage will amount to six millions. Authorities, however, greatly differ as to the probable traffic, and a recent article in the Economist, going closely into detail, estimates one million tons as the outside traffic for the first year. The Suez Canal Company in London, officially, the terms and conditions upon which vessels will be allowed to navigate the canal in passing from one sea to the other, in compliance with the Act of Concession, dated January 5, 1856. There are altogether eleven articles. By the first the navigation of the canal is open to vessels of all nations, provided they do not exceed a certain draft i f water. Spe; ial conditions are imposed upon steamers; and as to speul, upon all vessels ; and provision is made for the employment of the company’s pilots, whose directions are to be followed, hut the captain’s responsibility for the conduct and movement of his vessel remains. Certain forms have to be gone through at the offices at Fort Said or Suez on ship’s arrival; ami every vessel is to observe certain rules during the passage, one of which relates to lights during night time. The rules as to vessels meeting seem to be clear and definite, and if they are carefully observed, accidents at such times are apparently impossible. Pro* vision is made for cases where vessels from any cause may he detained in the canal; and commanders, among other requirements, are forbidden to anchor unless upon superior order, or upon the request of the pilot, or to cast into the water any filth, ashes, rubbish, or indeed, any object whatever. If any article docs happen to fall into the canal, a declaration to that effect is to be at once made to the pilot, who must trasmit it to the agent at the nearest station ; and the commander of the vessel is prohibited from searching fop the object without the direct sanction of the campaay’s agents, and the salvage, however it may be effected, is always to be made at the expense of the ship to which the recovered article will be restored. The dues payable arc to be calculated on the real tonnage of the ship, which will be determined according to the ship’s papers ; and it will be 10 francs per ton, and 10 francs per passenger. Towage, 2 francs per ton. Pilotage according to draught of water. If the pilot is detained, he is to be paid 20 francs per day ; but vessels anchoring are to Lave a reduction of 25 per cent upon the pilotage dues. Such are the principal rules, which seem to include every contingency to which the navigation is exposed.