PANAMA CANAL

Evening Post, Volume LXXVII, Issue 28, 3 February 1909, Page 7

PANAMA CANAL

REPORT OF CHIEF ENGINEER. By Telegraph.— i*re«a Association.— Copyr.fhfc. NEW YORK, 2nd February. Colonel Goethals, chief engineer at the Panama Canal works, has informed Mr. Taft, President-elect, that ships Avill pats thiough the canal in January, 1915. On returning to his duties at the isthmus early in 19U8, Colonel Goethals Avas repoited to have estimated that ships Avould be passing thiough the canal on Ist January, 1915. WILL IT PAY? In Putnam's, H. C. Weir discourses on the above subject. He says: — "In the foreground is the cyclonicboost which it will give the American cotton and iron markets. The Southern cotton groAvers now reach the Asiatic ports by the cumbersome route of the Suez canal via New York. Zigzag distances and smothering freight charges are devouring the item of profit. Europe, with the key to tho situation, la sloAvly turning it in the lock against American competition. The Panama canal AA'ould revolutionise these conditions Avith the Avrench of a Kansas cyclone. South America spends 86,000,000 dollars each year for cotton. Only 5 per cent, of this amount goes to tho United States. The remainder is cornered by the European exporters, Avho practically hold the A\ r est coast of South America at their mercy through the lessened expenses of transportation. The Panama Canal Avould reverse this situation like the change of slides in a stercopticoft. "Iron can be produced more cheaply at Birmingham, Ala., than at any other point in the Avorld. But the barrier of transportation makes its sale meagre and unprofitable in the great Asiatic and South American markets. The machinery of the Tennessee mills, the steel and hardware from the other Southern States, Avoulcl be doubled in output could they be economically marketed on the other side of the Avorld. This is impossible noAv. In the Panama canal lies the magic Avand which will make it possible. "The big ditch at Panama Avill golve the forestry problem — from one point of view. The building lumber of the AVestern coast Is beyond the reach of the Eastern markets because of the excessive frieght charges. The cost of water transportation is one-fifth that of the overland route. With the ocean itinerary opened by the Panama canal, another segment of the industrial revolution is unfolded. "Indefinitely its field could be lengthened — to the items of coal, fruits, cereals, fish, grain, manufactured goods in general and particular, and even the broadening possibilities before the American shipbuilder. ''With an inland canal from the Greal Lakes to the Mississippi, and the deepening of the passageway to the gulf, the dream of an ocean gieyhound floating majestically southward from Duluth to Colon, and thence thiough the Panama Canal to the countless ports of the Pacific, •is easy of accomplishment. "And who civn roe&*w« the golden trail ia its \vvk&'i"