Rensselaer Republican, Volume 25, Number 26, Rensselaer, Jasper County, 23 February 1893 — THE NICARAGUA CANAL [ARTICLE]

THE NICARAGUA CANAL

The Bill Discussed In the Senate—Government to Own a Controlling Interest, The bill which is’ intended to secure tho Constructions)! the Nicaragua ship canal occupied the attention of tho Senate,Monday. It provides that 3 per cent, bonds of the company, to an amount not exceeding $100,000,000. shall be guaranteed, “principal aud interest,” by the government oi the United States, these bonds to be Issued according as money is actually paid out and expended by the company in the construction of tho canal. The government is then to own the capital stock ol the company with the exception of $19,000,000 of it, which is to be retained by th* company, and except the sharcaio be delivered to the governments of Nicaragua and Costa Rica.