AN INTER-OCEANIC CANAL.

Southland Times, Issue 1137, 7 April 1869, Page 3

AN INTER-OCEANIC CANAL.

J A company has been lately formed in 5 Now York for the construction of a ship ' canal across the Isthmus of Darien, to f connect the Atlantic and Pacific Oceans. As the sum thought to be sufficient for 5 its construction, 100,000,000 dollars, has " been pledged by the New York capitalists, the Secretary of State has ' announced that the "Executive Govern- • ment of the United States has adopted " the enterprise ;" has " provided for a full, satisfactory and final survey, preparatory 5 to the construction of the canal," and 3 now negotiating with the Bepublic of ' Colombia for its consent to the undertak- > ing. While these negotiations are not • yet complete, their result can be foretold J from a decree of the Colombian Congress, 5 made in 1867, fixing the basis of the con- \ cession of the privilege of making a canal across the isthmus. The main conditions J are that the duration of the privilege shall be for ninety-nine years, reckoning '. from the day on which the canal Bhall be p opened to public service, in whole or. in L part ; that fourteen years from the date of 5 the concession shall be allowed for "' the completion of the work ; that the ' canal shall have breadth and depth ' enough for vessels of the heaviest tonj nage now in use, the Great Eastern alone 1 excepted ; and that the ports at each end of the canal shall be free and open to the ' commerce of all nations. No duties are 1 to be collected by the Government of ; Colombia for the transit of vessel* or ' goods; passports will only be required during war ; the canal and its ports to be 1 always neutral ; and the passage of war 1 vessels on hostile errands is forbidden. 1 The grantees of the right to construct 1 the canal may fix the tariff of charges, " provided it shall not exceed 75c. per ton ' for empty vessels, 2 dollars a ton for 1 cargo, 10 dollars for each passenger, a I half of 1 per cent, on precious metals. In return there is to be paid to Colom--1 bia 6 per cent, of the clear profits every year for the first twenty-five years, and 8 1 per cent, during each year of the remain--1 ing 74, provided this percentage shall ' never be less than 600,000 dollars annually. An arrangement is to be made with England, Prussia, Holland, France and the United States, to guarantee the neutrality of the canal. The route is not yet selected, and will depend on further surveys. The isthmus varies from 47£ to 114 miles in width.