The Nicaragua Canal

The act of congress incorporating thïs onterprise promises to have an important hearing on the interests of the Three Americas. The association to vrhich a name has thua been given ia called the Maritime Canai company of Nicaragua. The company had already obiained all coBcessions from Nicaragua and Costa Bica. They only needed the United States to give them a legal status. Tlie bul which has passed congress nakes the United States in no way peowaiarily liabte for expenses incurred by tfce company. This was expressly stipulated. Tke act tí incorporation was graated on oendition that work on tte anal sheuld be begun in good faith -witbin three years after the passage of Ifca.ML The headquarters of the company will be New York city, and their charter calis for capital stock to the amount of $160,000,009, with the privilege of increasing it to twice that sum. The estimated oost of the work is sometliing over sixtyaüc millions. The Nicaragua canal, as projected, takes the route serosa the isthmus tfarough L&ke Nicaragua. Thus the waters of that lake can be utflized. The anal will begin on the Atlantic side at the mouth f the San Jnan river, oear Gtaeftown, which is called bytbe natives 3at Juan del Norte. Theace the canal ■wK take a general courso up the San Juan river to Lake Nicaragua. It will oroas the southern end of the lake from eae to west Thencx a path will be cut from tin) lake to the Pacific ocean to the port of Foaseca. The total length of the canal wül be 181 miles. By the routo proposed S'xtytwo nril-t) of thé distanco must be out thnragb. Uw land. The chitf difference in tlie construction of this aod Uk Panama cr.nal is tliat tliat proposed to be an ocean level canal, ■while the Nicaragua work will employ i .vocks and lifts. The completion of the Nioaragna canal wSl opon to northera eoterprise a región oí unparallcled richnoss botli in mineral aod agricultura! producto. The charter graated by congrega provides that the ürector8 of this interooaanic canal company Bhall be citizens of tiie United States or of Nicaragua. A niajorfcy of ihosa. must be citizens and residente of ■O UnüM State. If the canal is brought "j eocceseful completion, Hs advantages to tbia country, both peawe and war, caa hardly bo estimated.