Jasper County Democrat, Volume 6, Number 23, Rensselaer, Jasper County, 12 September 1903 — “HOLD-UP” ON CANAL. [ARTICLE]

“HOLD-UP” ON CANAL.

More Money Asked by Colombians in the Proposed Treaty. The bill winch the Bogota Congress is uow discussing, authorizing President Marroquin to negotiate a new Panama caual treaty with rhe United States, contains the following stipulations: The perpetual use of the canal zone is granted provided that at the expinatiou of each hundred years the United States shall pay during the succeeding hundred years 25 per cent more premium and rental than for the preceding term, the premium beginning at $400,000 and the rental at S4OO. The mixed tribunals in the canal zone shall try suits between foreigners or between Colombians and foreigners. The police and sanitary measures shall be practically in charge of the United States. Twenty million dollars is fixed as the price of the concession, besides the rental (sum?) of $10,000,000 payable by the canal company, in consideration of Colombia’s approval of the transfer of shares. The railroad shall in sixty-four years revert to Colombia, but the United States may buy it under a valuation. A term shall be fixed within which the canal must be begun and finished. The contract shall provide for a means to settle differences which may arise between the governments during the construction and execution of the contract.

According to the latest reports received from Bogota, the Hay-Herran canal treaty is now generally regarded in the capital as dead and buried and it is declared the United States might as well turn seriously to negotiations with Nicaragua.