The validity of the French company's rights was questioned. Its
agreement to work some each year had not been kept. Its charter was to
expire in October, 1904, but, for 5,000,000 francs, the Colombia
President granted a six-year extension. Even with this the French
franchise would revert to Colombia in 1910. Colombia wished delay. The
United States transcontinental railroads did not want a canal, as it
would divert from them heavy, bulky, and imperishable freight. They
therefore joined Colombia in seeking delay, playing off the Nicaragua
plan against the Panama, hoping to defeat both.
Late in 1901, newspapers in the United States began urging the purchase