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THE NICARAGUA CANAL

(" New Zealand Herald.") While M. de Lesseps Is la aaoh unfortanite straits with the Panama Canal, tho prospect* of that throogh Nioaragoa are looking bright, and It is confidently ezpeoted that we Bhall see It opeued to the world before the year 1895. The American Company by whloh it Is to be conatruoted, after spending over eighty thousand ponnds m preliminary Investigations has jaat succeeded m getting through the American Congress an Act granting It a oharter to whloh the new President has given his assent. The soheme la, therefore, now fairly laanohed, and there Is little doubt of the money being subscribed. The Nloaragaan and Coat* Bloan Governments have granted the necessary oonoesslone, and the grants have been confirmed by Aota of the reipeotlre Legislatures. The land grants are a nai lion and a quarter acres along* the line of the Canal and the further land neceseary for a r ilway ia connection with it, A greater part of the transit will be by lake and riv r, and the rest by the projected Oanal which is to complete the connection between the two great oceans. There beiDg no Red Sea to navigate, bnt the clear ocean at each end, it is ezpeoted that much of the traffic now going through the Suez Oanal will come by way of Nicaragua. The estimates of ooet are ten mi lion pounds sterling, to which three millions are added for contingencies. The company, however, to eeoure itself against aco : donfc, will place its capital at twenty millions. The enterprise is one which concerns na vary closely m New Zealand, and we may heartily wish It auccaaa, while at tbe same time as heartily sympathising with M. de Lespeps and toe shareholders of the Panama Oanal, and wishing them well through the dffionlty into whloh they have been plunged.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AG18890412.2.14

Bibliographic details

THE NICARAGUA CANAL, Ashburton Guardian, Volume VII, Issue 2104, 12 April 1889

Word Count
309

THE NICARAGUA CANAL Ashburton Guardian, Volume VII, Issue 2104, 12 April 1889

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