INTEROCEANIC CANALS. 131 



products, and twenty-five per cent, during the remainder of 

 the concession, which was for eighty-five years. The pro 

 mises made by that country were to give sixty square miles 

 of land to the Company, with the perspective for the heirs of 

 the shareholders of an indemnity of fifteen per cent, during 

 ten years on the nett products of the Canal, if the cost did 

 not exceed one hundred millions, and during twenty years if 

 that sum had been exceeded, these sums becoming due at the 

 expiration of the concession. 



This concession had the same fate as the preceding 

 ones, and was absorbed in the national catastrophe of which 

 Walker was the hero. 



Indeed it is extraordinary to see how badly the South 

 American Republics understood their own interests. 



Instead of helping the companies which devote their 

 time and capital in favour of their countries, they only think 

 of making a good business of it. 



If they chose to follow the example given to them by 

 Europe and North America, by not reserving the best part 

 for themselves, but by helping the companies, with large 

 subventions, guarantee of interest, large grants of lands, and 

 privileges extending to a very long time, it is probable that 

 one of the Canals would have been opened a long time ago. 



Meanwhile they remain so narrow-minded, and see only 

 to their immediate interests, there is little chance for the com 

 pletion of such gigantic and wonderful works as those of the 

 Interoceanic Canals. 



If Europe and North America had acted in like manner, 

 railways and maritime services, and all other great under 

 takings, would never have been completed, and the wealth of 

 these countries would have remained stationary, as it is the 

 case with the Central and South American Republics. 



If these countries really want to attain the importance, 

 for which they are fit, it is indispensable that the men who 

 govern them should change their tactics, should have 

 great minds, be large and generous, and think more of 

 the future, and not so much of the present. They cannot do 

 better than to follow the examples given to them, by the 

 Founders of their Independence, such as Bolivar, Hidalgo, 

 Morazan, and many others. 



On the ist of May, 1858, a treaty was signed between 

 Mr. Thomas Martinez, President of the Republic of 

 Nicaragua, Mr. Juan Rafael Mora, President of the 

 Republic of Costa Rica, and Mr. Felix Belly, Publicist. 



