SUEZ THE CANAL &c. THE SUEZ CANAL approaches its completion, notwithstanding all that has been predicted as to its failure. The writer of the following pages had long desired to see it, and to judge for himself. Last winter he set out in order to do so, and having seen it, and had every opportunity for obtaining trustworthy information, he finds that we may calculate that in a little more than three years the making of this canal will be an accomplished fact. No one who is well informed as to the physical circumstances to be taken into account in estimating its prospects, can now imagine that any engineering difficulty of an insuperable nature, or even of much practical moment, is still to be appre B hended, which might render it impossible to bring to a successful termination this, in many respects unprecedented undertaking, in about this length of time. The only remaining doubt is as to how much it is to cost, not as to whether its accomplishment is physically practicable. And even with regard to the question of expense, there seems to be no room for miscalculation beyond an amount which would be considered quite trifling in a national budget, or in the charges incident to a war; however important it might prove to be in affecting the prospects of shareholders, and the per centage which the Canal, when finished, may yield to them, in proportion to the capital expended. But to say that there is any impossibility, whether financial or engineering, in completing the works, would be to assert what is plainly disproved by the experience gained during the last few years. (See Appendix A.) Financial obstacles may arise before it is carried out to a successful conclusion, but they are yet at a distance; some millions sterling being at present due to the Suez Canal Com PARTIES INTERESTED IN THE ENTERPRISE. 3 pany from the Viceroy of Egypt; and they can hardly be formidable enough to render it seriously difficult to obtain funds, so large an expenditure having been already incurred, and so many parties interested being perfectly competent to supply all the money that can possibly be required, and being also prepared to do so, rather than allow an enterprise to fail, from whose success they believe that vast results must ensue in the promotion of civilisation, and production of commercial wealth. Among these parties interested may be named the Ruler of Egypt (Viceroy or King, whichever he may most properly be denominated), who is far the largest shareholder, and who is quite aware of the enhanced value which will be conferred on his land, everywhere in the vicinity of the works; the French capitalists who have taken shares, and who may be relied on to lend their aid in raising whatever money is requisite; and the French Government, which has always evinced the warmest zeal in furthering an undertaking calculated to promote the trading prosperity of France, while hended, which might render it impossible to bring to a successful termination this, in many respects unprecedented undertaking, in about this length of time. The only remaining doubt is as to how much it is to cost, not as to whether its accomplishment is physically practicable. And even with regard to the question of expense, there seems to be no room for miscalculation beyond an amount which would be considered quite trifling in a national budget, or in the charges incident to a war; however important it might prove to be in affecting the prospects of shareholders, and the per centage which the Canal, when finished, may yield to them, in proportion to the capital expended. But to say that there is any impossibility, whether financial or engineering, in completing the works, would be to assert what is plainly disproved by the experience gained during the last few years. (See Appendix A.) Financial obstacles may arise before it is carried out to a successful conclusion, but they are yet at a distance; some millions sterling being at present due to the Suez Canal Com |