Plan of Colon, Atlantic End of the Panama Canal.
The first important step towards the prosecution of the Panama Canal works was the selection of a site for landing the necessary plant. The space in front of the town of Colon, at the north-eastern extremity of the Bay of Limon, was occupied by wharves devoted to the existing trade brought by steamers to the Panama Railway, and, therefore, another spot had to be found. The village of Gatun was first chosen, being on the river Chagres, and close to the railway and the proposed line of the canal. It was supposed that this site would be healthier than the low island of Manzanillo, on which Colon is situated, and the river Chagres afforded communication with the sea, having a minimum depth of 13 feet over its bar, which might be increased by dredging. Owing, however, to the want of proper shelter, fever attacked the workmen at Gatun; and, finally, the creek separating Manzanillo island from the mainland was selected as a harbour for the works.
Section of the Panama Canal, showing its
Intersection with the River Chagres.
The outlet of the canal was to be situated in this creek; and in order to protect the mouth of the canal and provide a good harbour for the works an embankment was formed on the south-west corner of Manzanillo island, and was carried about 650 feet into the Bay of Limon to afford shelter, being protected along its exposed portion by rubble stone. This embankment contains 458,000 cubic yards of earthwork, obtained by the aid of excavators from some hillocks about three-quarters of a mile distant, adjoining the railway; it covers an area of about 74 acres, which was formerly partly marsh land, and partly covered by the sea. The projecting mole was estimated to shelter nearly 3000 lineal feet of wharfage.[179] The position of the works will be understood from the annexed drawing.
Up to February 1883 the work undertaken at the canal had been almost entirely preliminary. In that month M. de Lesseps, acting upon recommendations contained in a report made by M. Dingler, chief engineer of roads and bridges, proposed to the shareholders of the company that the definite programme of the work to be done should embrace a canal of a depth of nine metres below sea level, and a width of 22 metres throughout its course; the construction of large ports at Colon and at Panama; a great basin, five kilometres in extent, near Tavernilla, about the centre of the canal, in order to allow vessels to pass each other; a great dam at Gamboa, for the regulation of the course of the Chagres river; and a tidal port at Panama, in order to ensure access to and from the Pacific at all hours. In submitting this programme, M. de Lesseps calculated that the excavation necessary to the completion of such a canal would be about 110 millions of cubic metres, and that the work of regulating the Chagres river would be equal to a further 10 millions of cubic metres. This work, M. de Lesseps estimated, could be completed in 1888—the excavations of land in three years, and the dredging operations in two, so that “the canal could, with mathematical certainty, be opened on the 1st January 1888.” In confirmation of this calculation, he appealed to the experience at Suez, where, with a total of 75 millions of cubic metres of excavation, 50 millions were done during the two last years of the work.
The state of affairs at the canal in the autumn of 1884 is described by the American Admiral Cooper, who reported that although comparatively little had been done in the actual work of excavation, in relation to the vast work to be accomplished, yet all the preliminary plans had been prepared, the soundings had been made, the line of route had been cleared of its tropical vegetation, large supplies of materials of all kinds were at command, dwellings and barracks for the employés had been erected in elevated and salubrious localities, hospitals had been established, and every arrangement requisite for meeting possible eventualities had been carried out so completely that he was confirmed in the belief that the canal would be finished in due time, although he doubted its completion in 1888. At this time no less than twenty different contractors, of eight different nationalities, were engaged upon the work of construction. These contractors had undertaken collectively to raise 62,691,000 cubic metres of excavation for a sum total of 219,295,000 francs (8,772,000l. sterling), being at the rate of rather less than 3s. per cubic metre. As the total quantity of excavation required was estimated at 120 millions of cubic metres, the opinion was held that the mere work of clearing the course of the canal could be accomplished for about 440 millions of francs, or rather less than 18 millions sterling.
Up to the end of 1884, the Canal Company had received a total sum of 471¼ millions of francs (about 19,000,000l.), and had expended 368¼ millions of francs[180] (about 14¾ millions sterling), leaving only about 4¼ millions sterling in hand. Even at this date it was confidently stated by M. de Lesseps and his colleagues, that the canal could still be constructed for the sum of 1070 millions of francs, or about 43 millions sterling. In other words, it was held that for 25 millions sterling additional, the work could be completed as originally planned.
The work proceeded, with occasional interruptions, due either to the difficulty of obtaining sufficient capable labour, to the delay in delivering the necessary dredging and other appliances, and to other causes. The result of an appeal made through the ‘Bulletin du Canal Interocéanique’[181] in the latter part of 1884, was to place a further capital of 136½ millions of francs (about 5½ millions sterling) at the disposal of the company.[182] With this and the balance remaining of the previous issues, the company were enabled to carry on the work until 1886, when they had to make a further appeal for assistance. This time they made a larger demand than they had done on the last occasion, and they succeeded in raising a sum of 206½ millions of francs (8¼ millions sterling), making the total amount subscribed to the end of 1886 not less than 886 millions of francs, or about 35½ millions sterling. The company was by this time getting into deep water. The public did not take to the bonds offered so readily as they had formerly done, and the deep distrust that was beginning to be felt in the success of the enterprise was shown by the very low price at which the shares had to be offered.[183]