THE IN1EROCEANIC CANAL. 197 



that of Ways and Means, was able in turn to accom- 

 plish its part with these data for its guide. M. Cere- 

 sole, the ex-president of the Swiss Confederation, was 

 the president, and M. Chanel, the delegate of Mar- 

 tinique, was reporter, the judgment of the section 

 being : " We are convinced that the sum of the ele- 

 ments of transit, already amply sufficient to defray 

 the cost of the canal, is destined, as the work develops, 

 to expand to an incalculable extent." 



The report went to show by what series of calcula- 

 tions the Commission had been led to fix the transit 

 dues at fifteen francs (12s.) per ton. 



Going on to calculate the cost of construction, the 

 payment of interest, the annual cost of working and 

 of maintenance, and deducting the participations 

 reserved by the Act of Concession granted by the 

 Government of Colombia, the reporter, and with him 

 the Commission, estimated the net annual profit of the 

 canal at 1,680,000. And, finally, " to guard against 

 the risks and chances of the unknown," the Commis- 

 sion expressed their hope " that, even at the cost of 

 more time and money, the canal might be made with- 

 out locks or tunnels." 



It is a very remarkable fact that the five Commis- 

 sions of the Congress should, without any pre-arranged 

 understanding, have expressed the same wish and 

 displayed their aversion for a canal with locks. But 

 this agreement of views simplified the remainder of 

 the proceedings. When, according to the mode of 



