THE PANAMA CANAL.

Bush Advocate, Volume I, Issue 3, 12 May 1888, Page 2

THE PANAMA CANAL.

+ . The colossal nature of the Panama Canal operations may be imagined from the large sums involved in its construction. News was received a few days ago that the French Chamber of Deputies has passed the Canal ; lottery loan for L.24,000,000. At the last mee'ing* ol' shareholders the sum necessary for completing the Canal was estimated at L 26 ,160,00 namely, Llo,l 60,000 for excavation, L.500,000,000 for locks and masonry, LoOOjOOO for reservoirs supplying the upper reaches of the canal, L 2,000,000 for materials, ancl L 8,400,000 for general expenses and interest on shares and bonds. The loav of L 24,000,000 ancl the balance in hand of L 4,400,000, 400,000 will meet this expenditure, and leave a margin of L 2,240,000. The lock canal thus temporarily established will have the same course as the first proposed sea-level canal, and will be 4(5 miles long and 29Af t deep. On the Atlantic side the canal, as it will be opened in 1890, will be a sea-level canal for 14 miles. The level of the water of the canal will be successively raised by five locks, two of 26ft fall aud three of 36ft fall. On the Pacific side of the Isthmus there will be four locks of 36ft fall and one of 26ft. The canal will, throughout its length and in all its reaches between the locks, have the '-cune depth as the definite sea-level canal, the construction of which is not abandoned. M. Eiffel has undertaken to complete the locks by the Ist July, 1889.