The managers of the Panama Canal are raising money on
debentures, and are circulating statements of the most hope- ful kind. They say they have no difficulty as to their supplies of labour, that their people are contented and in- dustrious, and that the work, though larger than was expected, is also lighter. The Company finds that it must remove 100,000,000 metres of soil, instead of 80,000,000 metres, but finds also that the increase is due to the enlarged width ren- dered necessary by the unexpectedly small proportion of hard rock encountered. Its engineers, therefore, believe not only that the work will be finished by 1888, but that, if M. de Lesseps chooses and the money is forthcoming, the opening may be expedited by another year. The debentures have all been taken up, the preposterous dividends of the Suez Canal having convinced Frenchmen that M. de Lesseps is a great financier, as well as a daring engineer. Con- sidering the immense importance of this canal to com- merce and to all colonies in the Pacific, it is surprising that "our special correspondent" has not yet made his appearance, to describe the works in detail.
Previous page
