THE PANAMA CANAL SCHEME.

Globe, Volume XXI, Issue 1774, 27 October 1879, Page 4

THE PANAMA CANAL SCHEME.

The British Association has been holding its annual session at Sheffield, In the Mechanical Science Section, Captain Bedford Pirn, E..N., M.P., offered some considerations on the Central American Isthmus and on the proposed canal across the Isthmus of Panama. Beginning with a reference to the Canal Congress of May last at Paris, Captain Pim, who has had great experience in that part of the world, gave a general outline of the Isthmus, with special reference to its physical geography, and, after enumerating some of the salient points of the subject, dwelt upon the striking difference between the connecting links of the Old and the Now Worlds, pointing out the political and other considerations which must govern any scheme for piercing the Central American Isthmus, such, for instance, as the advisability of adopting that route the termini of which would be accessible to sailing ships, such vessels vastly predominating in the grain trade between California and Great Britain, He quoted from the late Commodore Maury's works passages to show the impracticability of the ronto at Panama proposed by M. de Lesseps, and added his own testimony, derived from personal observation, to the same effect. He considered, however, that there was a really practical route for a canal through Nicaragua, that which had already been pointed out and graphically described by Bear Admiral Ammer, U.S. Navy. By this plan equal, if not greater facilities would be given at, say half tho coat estimated at that of M. de I/esseps’ plan, and pointed out from personal experience that there ia no enterprise the promoters of which should bear more clearly in mind the Italian proverb, “ Chi va piano va sano." Mr Bourne wished to add a few figures by way of supplement to those of tho paper for 1872 to 1878, during which period there had been such a groat increase in our imports from America. Our exports, by which we paid for these imports, had diminished from forty to fourteen millions sterling. Thus our trade and agriculture ware year by year gradually and rapidly deteriorating. The Chairman, in putting tho question, said Mr Bourne’s figures only showed that America had been too poor to pay ror many things in the last six or seven years. He did not _ wish to deprive Mr Bourne of consolation of thinking that were going

to the bad. He, however, took a more cheerful view of things, and did not believe that there was any danger of the permanent decline of British trade and agriculture. [Cheers.] The vote_ was agreed to. Captain Douglas Gallon pointed out the sanitary difficulties that would arise. Excavations in tropical countries created serious and fatal epidemics. This was found to be the case in the construction of the Panama railway. M. Sergeon, the eminent French engineer who was associated with M. da Lesseps in tho construction of tho Suez canal, expressed a favorable opinion of his present scheme. A vote of thanks was heartily given to tho gallant captain for his paper. M. de Lcssepa has issued the following circular : “ The issue of 800,000 shares, which took place on the 6th and 7th August, in Europe and America has not been taken up. In accordance with clause 82 of the statutes of the Inter-Oceanic Canal Company, I might cal) a general meeting of the 'subscribers, and, with their co-opcration, form a universal company for tho piercing of the American isthmus. Bat, feeling confident of ultimate success, I shall wait until light shall have been thrown on the attacks directed against our work at the last hour, with a view to check the favorable impulse which had shown itself at first. The arguments of our opponents may be thus summed up. On the one hand they have exaggerated tho expenditure and underrated the“receipts, with a view to show that though the opening of a new maritime pathway to commerce and civilisation was a good one in a business point of view, it was not likely to pay. On the other hand, it has been attempted to show that the scheme would fail through tho hostility of tho United States of North America. To the first argument the able contractor who removed the bar of El Ghizoh in the Suez Canal has undertaken to reply. M. Oouvcux and his associates, to whom are duo the great works for the regular flow of tho Danube and-the enlargement of the port of Antwerp, are about to undertake at their own expense a fresh survey, with a view to the execution of the Inter-oceanic Canal. They have made up their minds to undertake tho work either by contract, or at their own risk at my choice, and will permit no' doubt to subsist as to the receipts showing a surplus over the expenditure. As to the second objection, I shall myself deal with it in a trip I am about to take to the United States. It is only on my return that I shall constitute the Universal Company in virtue of the important and liberal concession conceded by the independent Government of _ the United States of Columbia. The subscribers who in Europe and America have responded to my appeal by paying up 55 francs per share can from this date have their money retured. No deduction will be made. _ They will receive scrip which on the formation of the company entitles them to the number of shares they applied for without reduction. The money left unclaimed will be lodged at the Bank of France. A half-monthly bulletin, the first number to appear on September Ist, will keep the founders of and subscribers to tha canal informed of all that concerns them during the preliminary worksi”