With reference to Northern China, however, it is to be noted that, although the Panama route shortens the distance between New York and Shanghai by 1,629 miles, Liverpool will still be the nearer to Shanghai by 295 miles, assuming the New York vessel to call at San Francisco.

COMMISSION'S HOTEL AT ANCON.

ADMINISTRATION BUILDING, ANCON.

These facts are illustrated by the figures given on the next page.

Nearer to
New York than
to Liverpool by
YokohamaNew York viâ Panama,
San Francisco and by Great Circle		9,8351,805 miles.
Liverpool viâSuez, Aden,
Colombo, Singapore,
Hong Kong and
Shanghai		11,640
SydneyNew York viâ Panama
and Tahiti		9,8522,383 miles.
Liverpool viâSuez, Aden,
Colombo, King George's
Sound, Adelaide and
Melbourne		12,234
Wellington,
N.Z.		New York viâ Panama
and Tahiti		8,8722,759 miles.[32]
Liverpool viâPanama and
Tahiti		11,631

[32] Liverpool to Colon, 4,720; New York to Colon, 1,961: difference, 2,759, the subsequent routes being identical.

Let us take a chart of the world and examine the portion comprised between the parallels of 40° North and 40° South and the meridians of 120° East and 160° East of Greenwich. This band, in which are included Japan and Korea, Shanghai and the Philippines, New Guinea and most of Australia, is of particular interest in relation to Canal trade. Let us take the standpoint, not of Europe or of America, but of traders residing in this area. Near its western margin the Suez and the Panama routes to New York are equal in length.