101 
" cent., if not more, on the aggregate amount of that trade 
*' must also be estimated as to be saved by the canal : but the 
" amount of that trade is almost incalculable. 
" From official reports to Congress it appears that the ex- 
" changes between the United States and Canton alone amount 
*' to above ten millions of dollars annually. Those between 
" Europe and China and neighbouring countries must be a vast 
" deal more, perhaps four or five times as much; but suppose 
" only a little above twice as much, and that the whole amount of 
" exchanges of both Europe and the United States with China 
" and the neighbouring countries was only tliirty-tliree millions 
" and a third of dollars, then the saving thereon by means of 
" the canal would be as much as one million of dollars annually, 
" thus making altogether two millions. 
" Thus it appears that if the present commerce of the United 
" States and of Europe with the western side of America, the 
" islands of the Pacific and China and neighbouring countries, 
" should be carried on through the canal, the immediate 
" annual saving thereon, upon the ground stated, without re- 
" ference to other great benefits, would not be less than two 
" millions of dollars (and it might be a great deal more), while 
" the whole revenue required to pay the interest of the cost of 
" the canal, at the high rate of eight per cent., would be only 
*' one million six hundred thousand dollars ; consequently 
*' there can be no doubt of sufficient remuneration for the 
" capital to be employed. But this calculation does notcom- 
" prehend all the sources of revenue to be derived from the 
" canal : it merely shows the saving to be made in effecting 
" the present exchanges between certain parts of the world by 
" means of the canal, and the amount which might, of course, 
*' be levied for the use of the canal, without adding at all to 
*' the present charges on the same commerce. Other advan- 
" tages would justify additional charges if more income were 
" required ; but the natural growth of commerce, together 
'' with that resulting from the increase of facilities, would soon 
" produce an immense addition and a vast surplus of income 
** from the canal, unless limited by previous restrictions, as 
" proposed, and as it ought certainly to be." 
