Panama Canal
THE PROBABLE REVENUE. A DEFICIT TO BE FACED By Cable—Press Association—Copyright , New York, March 15. Professor Emery Johnson, addressin,j a banquet of Pennsylvania University men. said the taxpayers would .bp obliged to meet a loan of £4,000.000 during the first ten years of the operation of the canal. It was necessary, to secure a revenue of approximately t4,000.000 annually to meet the cost of operation, sanitation, and the annuity payable to the Panama Republic and other charges. If all vessels paid tolls the revenue from the canal at the end of ten years would cover the annual outlay for operation expenses, also the charges upon capital. If, however, American ships were exempted, the canal would not be self-supporting,
Professor Johnson declared that there, was no doubt it was the intention of those who negotiated the Hay-Paunce-fote treaty that the United States should be granted no rights that other nations did not receive.
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Taranaki Daily News, Volume LVI, Issue 220, 17 March 1914, Page 5
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154Panama Canal Taranaki Daily News, Volume LVI, Issue 220, 17 March 1914, Page 5
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