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The Ashburton Guardian. Magna est Veritas et Prævalebit. THURSDAY, APRIL 25, 1889. THE NICARAGUA CANAL.

r Unless M. de Lesseps is able to > organise a new Company and to raise ' some thirty or forty millions of money — • that is to say of pounds sterling, not francs — within a year from the present 1 date, the construction of the Panama » Canal will certainly not be completed by b French enterprise, as we see that the ' State of Columbia has announced that ) m 1890 the concessions granted by it with - a view of facilitating the great work will 1 be revoked. It does not seem likely > that M. de Lesseps will be able to accomplish this, but it does not follow that 8 if he fail the Panama Canal project will be abandoned — on the contrary, we fully expect that it will fall into other hands 9 and be carried on under better auspices. , Whether or not, however, that there will 1' be a waterway throngh the Isthmus with c m a very few yearp, by way of Nicaragua, c now appears certain. Years ago the D Senate of Nicaragua passed a Bill grant , " large concessions to the promoters, but ' until recently the project apppars to have | ■ been hung up, possibly because of the then apparent prospect of the success of ~ m of the rival work at Panama. A chartered company has, however, now been formed under Act of Congress of the United States, which, it is to be presumed, will forthwith proceed with the undertaking, and if it carries on its H operations with the vigour usually !t characteristic of American enterprises 1 then there is reason to anticipate that " two or three years at most will see a canal opened between the Atlantic and Pacific oceans. Writing on the \ Bubject our Auckland contemporary, c the New Zealand " Herald " points out b that even should both canals be com>f pleted, there will be ample business for Lb each of them " because there cannot but be as much traffic as at Buez, where there was soon occasion to choose between cutting a second canal or doubling the size of the existing one. Let us glance for a moment at some of the traflfift that ia -bound_ta poos through Panama or Nicaragua when they are ;eady. The British sea-trade with Oali- - fornia and other Pacific States of the r » Union now annually averages £9 ,000,000 3t sterling. Trade under the British flag [{ with the Mexican ports now yearly exn ceeds £2,500,000. Then the extensive h British trade with Peru and Chili, c valued at more than £9,000,000 a-year woul all go the same way to an fro. It j- is safe to say that of England's immense commerce with her Australasian colonies P that which" would pass throngh these 1 Central American canals could not be n of less annual value than £30,000,000 sterling. We believe wo are under the mark m saying so, for the great bulk of England's trade with New Zealand, New South Wales and Queensland, and " part of it with Victoria, Tasmania, and North Australia ? would choose this g route. Then another road would be provided between Europe and China, 3 India, and the Indian Archipelago ; and 1 the more facilities that are afforded for I commerce the faster it grows. MoreQ ' over, there are political and other reasons besides commercial for wishing s well to the canal cuttiDg ; and while 0 hoping that the Nicaragua work may now be taken up m earnest, we trust the still more important one of the grand old pioneer of such enterprises will, m spite of present difficulties, be carried to 9, triumphant issue,"

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The Ashburton Guardian. Magna est Veritas et Prævalebit. THURSDAY, APRIL 25, 1889. THE NICARAGUA CANAL. Ashburton Guardian, Volume VII, Issue 2118, 25 April 1889

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