PEESIDENt’s ADDEESS — SECTION E. 
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decay-resisting eucalyptus wood there should be an additional 
outlet, wood bricks above all being now in universal demand. 
Probably the import of sugar and coal there could be still much more 
extensively served, and, therefore, also from our eastern shores ; Mr. 
E. W. Knox estimating the sugar output of Eastern Australia this 
season to exceed by 25,00'.) tons our local consumption, now principally 
supplied on the far wider way from western Europe. These are mere 
examples of prospective international traffic carried into new or 
extended directions. Details can only be worked out after start and 
progress, as much will suggest itself after actual trading intercourses. 
Though various supplies might be drawn for western South America 
from the interior of Argentina, yet this can only be done at consider- 
able freight expenditure, as the railway requires us to ascend, at the 
Uspallata Pass, to 13,000 feet. But the competition in these trans- 
pacific interchanges, when the Isthmus of Panama shall have been 
penetrated, may become very much modified by the altered distances of 
voyages then. Will this century pass — the greatest in the world’s pro- 
gress— without the celebration of this achievement, which was initiated 
already by the crowned mighty grandson of Queen Isabella, who sent 
Columbus out on his glorious path, and of what lias engaged the 
thoughts of bright spirits ever since? Imagine the grandeur of the 
enterprise, designed to effect for the Western world what the forcing 
of a waterway through the Suez isthmus has done for the Eastern ; 
he who realised this project of ancient times now also having passed 
away. The resumption of the Panama scheme — just now announced, 
and as regards finances seemingly secured — must be hailed by all 
civilisation with delight. When the 300 feet elevation of the Culebra 
are once overcome, the main difficultv seems to have vanished, as 
through adequate hygienic measures the insalubrity of the clime can 
be lessened, and the inhabitants, when more settlements are 
thoroughly formed, can secure comparative safety. And what an 
influx of population with ever-increasing requirements, such as can 
partly be met from our colonies, will these works of world-renowned 
magnitude bring about merely for the immediate vicinity ! All 
honour to the promoters in France who so perseveringly and so 
enthusiastically enter on a new effort, so brilliant, so promising, but 
which at one time appeared to be a forlorn hope. The United States, 
not to any surprise, wish to connect the Atlantic and Pacific Oceans 
by a passage of their own. Unforeseen complications, physical 
disturbances, especially in regions of earthquakes, tariff difficulties, 
would render a double line of transit at the junction of the two 
Americas not unwelcome, if even the contemplated Nicaragua 
Canal was on a lesser scale of capacity than that of Panama, 
and trade and commcroo by both efforts would be still 
further augmented. From Greytown, where some harbour 
has been formed, to Brito, the length of the canal would be 
about 170 miles. A great length, to be sure, but about 110 follow 
existing water lines, naturally more or less navigable, the highest 
elevation to be pierced in both cases being nearly the same. It is 
anticipated that the waters of the San Juan, through the dam of 
Ochoa, will provide for forty miles a depth of not less than 38 feet. 
Erom the Toro to, and partly through, Lake Nicaragua, deepenings 
have to be effected. What requires to be done for the completion of 
