What attempts may be made to remedy this state of things, and what effects such attempts may have, are matters on which I shall not stay to speculate.
CHAPTER VII
THE COST OF THE CANAL
OF the existing canals for ocean-going ships, that of Suez was built by a company as a commercial undertaking to earn dividends by tolls. It cost $90,000,000.
The Manchester Ship Canal was partly commercial, partly industrial, i.e., the large contribution of the city of Manchester was made not as a financial speculation, but in order to promote an undertaking likely to develop the industries of the city. This canal, partly commercial, partly industrial, cost $75,000,000.
The Kiel Canal has further a military purpose, providing a short line of communication for warships. It cost $40,000,000. The Panama Canal is commercial, industrial, and military, and will cost more than all the above put together.
PALACE OF PRESIDENT OF THE REPUBLIC OF PANAMA.