Engineering Wonders of the World
Volume I

THE PANAMA CANAL. 133 THE ENORMOUS BUCKETS OF A MODERN LADDER DREDGE. Each will scoop up 1| cubic yards of material. The breaking strength of this chain of buckets is over 2,000 tons. (Photo, Atlantic Equipment Company.) Thus was the road cleared for the acquisition of a property which had cost France close on £60,000,000. Never in the world’s history were such bar- gains made. For two million odd pounds sterling the American Government obtained absolute authority for ever over five miles of territory on each side of the centre line of the Canal; full control of all places outside this zone which it might be convenient to use ; and an overlordship in sanitary matters in Panama and Colon, the only large centres of population in the Isthmus. Compared with the sum paid for these con- cessions, that handed over to the French proposed by the Americans. No sooner was Company appears absurdly small. The Ameri- can Commission conducted its valuation in a most free-and-easy manner. Of the large amount of excavation credited to the French the surrender cabled to Washington than the little more than half was declared to be of Commission set to work on a new report, value to their possible successors, and for this entirely in favour of the Panama route. In June 1902, after long and bitter debates, Congress authorized the President, on behalf of the United States, to acquire from the French Company its rights and possessions in the Isthmus, the Panama Railroad stock owned by it, and its maps and records in Paris ; to £5,664,750 was allowed. The Company’s hold- ing of railroad stock was valued at £1,412,370 ; £412,300 was paid for the splendid maps in Paris ; and the magnificent balance of £758,000, making up the $40,000,000, was generously allotted to “ cover omissions.” These “ omissions ” embraced lands not built obtain from the Republic of Colombia tain territorial and other concessions ; and to proceed with the construction of the Canal. The Colombians repudiated the con- vention to which their Minister at Washington had agreed. They said that they could not it Part any of their United States. x J territory. Very pos- sibly they were only bluffing, in the hope of getting better terms. But the people at Panama did not like this, ' promptly declared themselves an inde- pendent State, were recognized as such by the United States, and opened negotiations on their own account. cer- upon ; over two thousand buildings—including NOZZLE OF A SUCTION DREDGE, ARMED WITH REVOLVING KNIVES WHICH LOOSEN THE MATERIAL.