People's Pilot, Volume 6, Number 33, Rensselaer, Jasper County, 4 February 1897 — Nicaragua Canal. [ARTICLE]

Nicaragua Canal.

The votes already had in the Senate show that the Nicaragua Canal bill will have easy passage there. It ought not to be unnecessarily delayed in the House. Possibly some crankiness may bring a veto from President Cleveland. But it is a measure greatly needed to further develop the commerce with our Pacific coast and keep the continental railroads in check. These companies oppose it. Senator Morgan, of Alabama, has been its elo quent champion. The canal bill provides for an issue of & 100,000,000 of Maritime Canal Company stock, of which the Secretary of the Treasury, on behalf of the United States, is to subscribe for §70,000,000 worth of shares. Tfye company is to issue bonds up to $100,000,000, these to be guaranteed by the United States. The building and control of the canal are

given to American engineers, and a board of eleven directors, of whom five are to be appointed by the President. It is substantially the measure passed by the Senate in the last Congress.