OLD FLAT ARCH AT PANAMA.
Up to June 30, 1908, the United States Government have spent $126,047,062 on the Panama Canal, made up as follows:—
| Payment to New Panama Canal Company $40,000,000, and to Republic of Panama $10,000,000 | $50,000,000 |
| Expenditure on work prior to July 1, 1907 | 43,172,408 |
| Expenditure on work July 1, 1907-June 30, 1908 | 32,874,654 |
| Total | 126,047,062 |
The amount authorised to be appropriated by the Act of June 28, 1902, was $135,000,000, plus $50,000,000 purchase money, that is to say, $185,000,000 in all, for "the canal, harbours, and defences."
What the total cost will be is unknown, but Colonel Goethals stated in evidence (January, 1908) that the Canal would cost at least $250,000,000, and possibly as much as $500,000,000.
The combined cost of the Suez, Manchester, and Kiel Canals has been $205,000,000.
The following important ship canals have been completed for smaller sums:—
| U.S.S. St. Marie (somewhat more than) | $6,000,000 |
| Canadian ditto nearly | 4,000,000 |
| Amsterdam | 10,000,000 |
| Corinth (about) | 5,000,000 |
| Cronstadt (about) | 10,000,000 |
| Welland (Lake Erie-Lake Ontario) | 24,000,000 |
| Total | 59,000,000 |
Adding these figures to those already given, we have a grand total of $264,000,000 for the cost of nine of the greatest existing ship canals, which is about the same as the lowest current official estimate for the final cost of the Panama Canal.