The Suez Canal has proved highly profitable to its owners. No one believes that the Panama Canal will yield as great a return on the capital invested. The cost of the Panama Canal will be four times the cost of Suez, and it is doubted by traffic authorities whether the Panama Canal will ever handle as much business.
The Manchester Ship Canal, which connects Manchester with Liverpool, was constructed only after years of preliminary agitation. There was opposition by the railways, and from the industrial and commercial centers with which Manchester competes. Over 300 petitions were presented to Parliament before its consent was obtained for the construction of the canal. Work was begun in November, 1887, at which time it was estimated that the canal would cost $42,000,000. It was opened for traffic January 1, 1894, after $75,000,000 had been spent in building it. Of this about $60,000,000 went into actual construction work. The Manchester Canal is 351⁄2 miles long. It extends from Eastham, about 6 miles from Liverpool, to Manchester. Its original depth was 26 feet, but this has been increased to 28 feet. Ships with a length of 550 feet, a beam of 61 feet, a height of 70 feet, and a draft of 27 feet can use the canal. There is a difference of 58 feet 6 inches in level between Eastham and Manchester, and this is overcome by five sets of locks. The highest lift is 16 feet.
The Manchester Canal Company owns the Bridgewater Canal and makes connections with 13 other barge canals. It handles about 6,000,000 tons of freight a year, of which the bulk is sea-borne. Although it connects with 13 barge canals, the amount of barge traffic handled is less to-day than it was a decade ago. From the beginning the Manchester Canal has had to compete with the railroads, and they cut their rates to such a basis that they get the business and force the canal company to operate as a losing venture to its stockholders.
In spite of the competition of the railroads, the canal has managed to increase its business at about the same rate that traffic through the Suez Canal has increased, and a little more rapidly than it has been estimated that traffic through the Panama Canal will grow. The shareholders have not yet received any dividends, but it seems probable that in the course of a few years all of the securities will earn an annual income. Many shareholders have been more than compensated for their subscriptions by the collateral benefits they have received from the canal.
The Government of Germany constructed a canal connecting its Baltic and North Sea ports, and named it the Kaiser-Wilhelm Canal. The natural route from the Baltic to the North Sea around Denmark is circuitous, dangerous because of storms, and is guarded by foreign powers. The canal was begun in 1887 and completed in 1895, and was constructed primarily for military and naval purposes, although it has proved to be of great value to the commerce of Germany. It connects Brunsbuttel Harbor on the Elbe with Holtenau on Kiel Bay. It passes through low lands and lakes and along river valleys. It is 61 miles long and, as it was first constructed, had a width of 72 feet and a depth of 291⁄2 feet. The total cost of the canal was approximately $37,000,000. It was in operation only 12 years until it was found necessary to enlarge it. The reconstruction of the canal was authorized by the German Government in 1907, and the work, which is expected to be completed in 1914, was started in 1909. When this work is completed the canal will be 144 feet wide and 36 feet deep. At 10 places it will be widened so as to permit ships to pass. New twin locks, built for the regulation of the tides—for the canal itself is at sea level—will be 82 feet longer and 37 feet wider than the Panama locks. The maximum depth of these locks will be 45 feet, although at low tide they will be a little less than 40 feet.
During a recent year commercial vessels with an aggregate net register of over 7,000,000 tons used the Kiel Canal. The increase of business during the first decade of the present century amounted to 70 per cent, or a little more than the estimated increase for each decade at Panama. The net receipts from the operation of the canal are not sufficient to pay interest on the investment. No effort is made to levy tolls that will provide for interest charges, or for the amortization of the principal. The canal does not connect regions of enormous traffic, nor does it greatly shorten ocean routes. The longest route is cut down only 429 miles. The German Empire was so well pleased with the success of the Kaiser-Wilhelm Canal that the enlargement it is now making represents an expenditure one and a half times the original cost.
The Amsterdam Canal was built to connect Amsterdam with the sea. Formerly, ocean-going vessels were small and the Zuider Zee River was then a stream of considerable depth. Gradually, however, the Zuider Zee became shallower and the size of ocean vessels larger, so that the commercial supremacy of Amsterdam was threatened by the competition of Rotterdam and Antwerp and north German ports. In 1818 a corporation constructed what was known as the "North Holland Canal," which was large enough to accommodate ships employed in the East India trade. It had a minimum depth of 20 feet and a minimum width of 100 feet. This canal, however, had numerous curves and it was constructed by a roundabout route of 52 miles from Amsterdam northward to the North Sea, while Amsterdam is less than 17 miles from the sea by direct route.
In 1863 a concession for the construction of the North Sea Canal was granted and two years later active work began. It was finished in 1876. There were no serious engineering difficulties to be met, there being no rivers to be crossed, no towns to block the way, and only three bridges to be built. The work consisted mainly of building embankments, draining and reclaiming land, and dredging the channel. The canal was not completed according to the original plan. Extensive enlargements and improvements were decided on, and a larger additional lock was undertaken in 1889 and completed in 1896. At that time it was the largest canal lock in the world. Plans are now being considered for building another new lock, which will be larger than those at Panama. The bottom width of the canal is now 164 feet. It can accommodate vessels 721 feet long, with a 79-foot beam and of 30 feet draft. The construction of the canal cost $16,000,000. Improvements have brought the total amount up to about $24,000,000. Since 1893 all toll charges have been eliminated, and the canal has been operated at the expense of the State. The annual average cost of operation and maintenance is about $200,000. This canal bears about the same relation to the city of Amsterdam that the Delaware River Channel bears to the city of Philadelphia, or the improvements on the lower Mississippi to the city of New Orleans.
The Cronstadt and St. Petersburg Canal is 16 miles long and gives St. Petersburg an outlet to the Gulf of Finland. It was built at a total cost of about $10,000,000. It has a minimum width of 220 feet and a navigable depth of about 201⁄2 feet. It was built primarily as a military undertaking, but has proved of great service to Russian commerce.
Another important European canal is that extending from the Gulf of Corinth to the Gulf of Aegina in southern Greece. Its length is about 4 miles, a part of which was cut through soft granite rock and the remainder through soil. It has no locks. The bottom width is 72 feet and the depth 261⁄4 feet. The average tolls are 18 cents per ton and 20 cents for passengers.