Chap. XXII.— B. P.] NICARAGUA RAILWAY COMPANY. 363 
the section of the proposed line of railway surveyed 
with so much labour and expense was even yet per¬ 
fectly satisfactory. Besides this, the civil war waging 
in the “ States,” and the unsettled condition of politics 
at home, made it impossible to enlist the sympathy, 
far less the moral support, of the English Government, 
which, in spite of a treaty stipulation with Nicaragua, 
was rather inclined to throw cold water than other¬ 
wise on any attempt to compete with the Panama 
railroad, having, doubtless, the threatening shade 
of Mr. Monroe before its eyes. 
The journey of 1865 was not, however, altogether 
fruitless; the report on the gold district was received 
with favour; and a vigorous effort has since been 
made to develope a portion of it, proving beyond 
doubt that the mineral resources of Chontales are of 
no inconsiderable value.* 
The great panic of May, 1866, from which the na¬ 
tion is only now very slowly recovering, again threw 
my project hack, just when I fondly hoped that all diffi¬ 
culties had been overcome; hut, nevertheless, any 
idea of giving up in despair was not to he thought 
of, and, therefore, in November, 1866, a company, 
called the Nicaragua Railway Company, limited, with 
a capital of £1,000,000, was registered, and the pro¬ 
spectus laid before the public, asking for £450,000 to 
begin with. The shock to public confidence had, 
* While these pages were passing through the press, March, 1869, 
the worn-out old Spanish mining laws (Ordenanzas de las Minereas) of 
Nicaragua have been abolished, and comparatively free-trade in mining 
inaugurated. 
