PANAMA CANAL.

King Country Chronicle, Volume VII, Issue 600, 6 September 1913, Page 7

PANAMA CANAL.

A British Consular report dealing with the probable effect of the Panama Canal upon American trade says: "The approaching opening of the Panama Canal is an event which naturally excites .threat interest, and it is hoped that the land-slides in the Culebra Cut. which have recently been of a somewhat alarming character, may not necessitate a postponement of the date fixed. As to the effectof the opening of the canal on existing trade routes opinions vary greatly. Speaking generally, it is thought that the trade between Europe and the East will net be affected to any VFry great extent, and that the trade between European port? and Australia will continue more or less upon the present lines. But upon American trade it must have a very large result. Independently of the value of the canal from a strategic point of view, its onening will enable the Atlantic norta to do ar, immense trade with the 'Pacific Coast of North and South America, and will bring Australia and New Zealand much nearer to New York. To what extent lUnited States shipping will avail itself ot these facilities is a question which can only be answered in the future, but advantage will, without doubt, be tak«n by European lines of the new means of access to the western shores of Central and South America. Another result will probably be the lowering of the trans-continental freight rates winch, in the absence of competition, are abnormally high. In considering the effect upon trade with South America of the opening of the canal, it must not be forgotten that all the eastern coast, and probably as far round on the Pacific as Valparaiso, can be effectively served without using the canal at all."