Though the announcement that the United States had secured a
site for a coaling - station on the Chiriqui Lagoon—a great inlet from the Caribbean Sea close to the projected entrance to the Nicaragua Canal—appears to be without foundation, we do not doubt that the American naval authorities would be glad to secure command of the lagoon. The Standard of Monday in a well-informed article points out, however, that the acquisition would be con- trary to the Clayton-Bulwer Treaty, and goes on to say that if that Treaty is abrogated, our Foreign Office should require full compensation. We have no desire to give away British rights for nothing, but, nevertheless, we feel strongly that it would be an immense mistake to insist too pedantically upon the maintenance of the Clayton-Bulwer Treaty. And for this reason. The Nicaragua Canal will never be made unless that Treaty is abrogated, for no private company can hope to make the canal unaided, and the United States will not find the necessary money unless they control the canal. Hence, by insisting on the Treaty we veto the making of the canal. But it is, we believe, very much to our interest that the canal should be made. With it in existence we could reinforce our Pacific from our Atlantic Squadron, and vice versd, while the advantage to our commerce is obvious. We want, then, to see the Clayton-Bawer Treaty abrogated because we believe it would redound to our advantage. Our sole con. dition for abrogation should be 'that the Americans met make the canal within a aefinite time.
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