Evening Republican, Volume 15, Number 253, Rensselaer, Jasper County, 26 October 1911 — TRADE POSSIBILITIES OF THE PANAMA CANAL [ARTICLE]

TRADE POSSIBILITIES OF THE PANAMA CANAL

k Will Be | Of Great Advantage in Commercial v Pursuits of Comtry. undertaken by the United States, certainly it would hot have been undertaken so soon, had its possible use to commerce been the only thing considered. The importance of a canal to the navy—made evident in the war with Spain—was what determined the government to act But now that Colonel Goethals has promised that the canal shall be ready for traffic in July, 1913, its commercial possibilities are being widely studied. The question of tolls, the probable effect on trans-continental railways, the, inevitable changes in foreign steamship routes, the effect upon American shipping—these are among the matters into which the great' transportation interests of the world are now making careful examination'. Probably the effect on American shipping and ship-building will be large. In one instance already the canal has begun to provide work for the Last month the Atlantic and Pacific Transport Company was organised with a capital of. fifteen million dollars. It will build fifteen large steamships for the ocean mail service between New York and San Francisco by way of the canal. Since all domestic commerce must by law be carried in American vessels, the formation of this company means fn itself much work for pur ship-builders. Shall American-vessels engaged exclusively in domestic commerce pay toll to the canal? In the Hay-Paunce-fote treaty we agreed to make'no discriminating charges against the traffic of any. nation; but some, arguing that this treaty applies only to International commerce believe thdt we may, if we. choose/permit American coast wise ships to without charge. Mafiy bills are now before Congress concerning this Important point, on which action is promised early in the next session. z, The cost ' of working the canal—a task for which a thousand men will be needed,—together with the interest on the cost of construction, will be from thirteen to fourteen million dollars a year—a fact that will have'an important influence in establishing the rate, of toll. The rates suggested range from fifty cents to two dollars a cargo ton. Colonel Goethals puts the maximum capacity of the canal at twenty-four ships a day. What effect the canal will have on the business of the great trans-conti-nental railway lines is causing concern to some Investors. Five of thos« railways cost more than the canal, and one of them cost twice as much. The railway companies, of course, are

One railway president declafes th a. the roads will provide a service so! superior to that of the canal that the new waterway will be “filled with lily-pads.” Other officials fear serious damage to the business of the rail- j ways, and a possible panic in rail- [ way securities. Ten leading foreign steamship lines are planning to use the canal—a fact that means the complete transformation of the maps that show the regular lines of ocean travel. Aprop6s of this, the announcement of the Grand Trunk Railway that the wheat of Western Canada—a hundred million bushels every year—instead of ; being brought across the continent by train and shipped from Atlantic ports, wil be taken to Prince Rupert, the Pad way oathcanal, is particularly interesting.