PANAMA CANAL.

Te Aroha News, Volume IV, Issue 163, 31 July 1886, Page 9

PANAMA CANAL.

Points from tbe Report of the French Expert. New York, June 29. -The |" Herald" says :— The text of the report of M. IloußBeau on the De Lessens Canal Company has at last been officially promulgated. Our Parid correspondent sends us its substance by cable. While it now' by no means justifies the extravagant assurances of DeLesseps to the public that it would explicitly recommend an assent to his Company's petition for official authority to' raise a lottery loan of 600,000,000 francs, neither does it positively condemn the proposition,' as has been asserted of late in some quarters, though the fact that the Ministry of Public W orkshas prepared and proposed a bill to authorise the lottery since the report came into its possession was a warrant to infer that its intent was not altogether unfavourable. Rousseau thinks that De Leseepa' estimate of completion in 1889 is " more than problematical," without alteration of the present engineering plans' even granting money without limit. " As to mo4ey, in a vague kind of way he advises some indefinite kind

of , Governmental, aid, _ diplomafcio support being the only species he distinctly specifies declaring that the abandonment of the canal by M. De Leasepa? company would, not only be "a terrible disaster" to the French Bhareownora and bondholders, but also to French influence in America, and says that foreigners would Burely take up the enterprise. ; Unless, however 1 , the Government can control the plans and contract, he does not deem a. financial guaranty pru« dent.in consideration ot the uncertain chance of the investment ever being pecuniarily profitable. >"" . ' It appears that a very large majority of the members of the committee having the Government's bill in charge are inclined to an adverse report, and many .of them feel sure that the bill will be defeated and France be kept out of international complications touching this canal.