3o8 POPULAR SCIENCE MONTHLY. 



the excavation from which it was taken, and would have to be rehandled 

 in forming the increased size of prism contemplated in the commission's 

 plan. 



In view of all the conditions affecting it, the commission made the 

 following estimate of the value of the property of the new Panama 

 Canal Company, as it is now found on the Panama route : 



Canal excavation $21,020,386 



Chagres diversion 178,186 



Gatun diversion 1,396,456 



Railroad diversion (four miles) 300,000 



$22,895,028 

 Contingencies, 20 per cent 4,579,005 



Aggregate $27,474,033 



Panama Railroad stock at par 6,850,000 



Maps, drawings and records 2,000,000 



Aggregate $36,324,033 



The commission added 10 per cent, to this total 'to cover omissions, 

 making the total valuation of the property and rights as now existing 

 $40,000,000.' In computing the value of the channel excavation in the 

 above tabulation it was estimated that 'the total quantity of excavation 

 which will be of value in the new plan is 39,586,332 cu. yds.' 



In January, 1902, the new Panama Canal Company offered to sell 

 and transfer to the United States Government all its property and 

 rights on the isthmus of every description for the estimate of the com- 

 mission, viz., $40,000,000. In order to make a proper comparison 

 between the total costs of constructing the canal on the two routes it 

 is necessary to add this $40,000,000 to the preceding aggregate of 

 $144,233,358, making the total cost of the Panama canal $184,233,358. 

 It will be remembered that the corresponding total cost of the Nicaragua 

 canal would be $189,864,062. 



It is obvious that the cost of operating and maintaining a ship canal 

 across the American isthmus would be an annual charge of large 

 amount. A large organized force would be requisite, and no small 

 amount of material and work of various kinds and grades would be 

 needed to maintain the works in suitable condition. The commission 

 made very careful and thorough studies to ascertain as nearly as prac- 

 ticable what these comparative costs would be. In doing this it gave 

 careful consideration to the annual expenditures made in maintaining 

 the various ship canals of the world, including the Suez, Manchester, 

 Eiehl and St. Mary's Falls Canals. The conclusion reached was that 

 the estimated annual costs of maintenance and operation could reason- 

 ably be taken as follows : 



For the Nicaragua canal $3,300,000 



For the Panama canal 2,000,000 



Difference in favor of Panama $1,300,000 



