Rensselaer Journal, Volume 10, Number 46, Rensselaer, Jasper County, 25 April 1901 — MORGAN'S GREAT CANAL SCHEME. [ARTICLE+ILLUSTRATION]

MORGAN'S GREAT CANAL SCHEME.

J. Pierpont Morgan wants to build the Panama canal. He needs the waterway to complete the transportation deals that he has under consideration, and he has made definite offers to President McKinley regarding the cutting in two of the isthmus. Mr. Morgan has pointed out that the construction of the Nicaragua canal will cost the government $30,000,000 for the .first year and $20,000,000 annually thereafter for perhaps ten years. As the expenditures of congress have Increased enormously Mr. Morgan has pointed out the bad politics in adding the expense of a canal project to the cost of running the government. Statu* of the Ttuo Canal*. Panama Canal. Length 46.2 miles Amount completed (estimated).. 18 miles Amount spent - $260,000,000 Cost of completion (estimated) $125,000,000 to $20(^000,000 Work began in 1879 Work stopped .1889 N*ew company formed 1894 Capital of new company $13,000,000 Terminus Atlantic coast Colon Terminus Pacific coast Panama Nicaragua Canal. Length (including Nicaragua Lake) 170 miles

To be excavated 27 miles Amount completed None (Only preliminary work at Greytown) Work begun Work stopped «...!!. !1893 Estimated cost to complete, $100,000,000 to $200,000,000 Terminus Atlantic coast ..Greytown Terminus Pacific coast Brito