NICARAGUA CANAL
\nˌɪkɐɹˈaɡjuːə kənˈal], \nˌɪkɐɹˈaɡjuːə kənˈal], \n_ˌɪ_k_ɐ_ɹ_ˈa_ɡ_j_uː_ə k_ə_n_ˈa_l]\
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The Maritime Canal Company of Nicaragua, capital $100,000,000, was incorporated under a charter granted by Congress in 1889, permission having been previously obtained from the Nicaragua Government for the exclusive right of constructing and operating an inter-oceanic ship canal. Excavations were begun October 8, 1891, at San Juan del Norte, or Greytown. The total length of the proposed waterway is 1692 miles. The reservoirs of Lakes Nicaragua and Managua furnish an adequate high water level supply. In 1892 the canal had been opened one mile from Greytown. The sum then expended in plant and work amounted to $600,000. A bill reported unanimously by the Senate Foreign Committee, recommending a government guarantee of $100,000,000, has been withdrawn.
By John Franklin Jameson
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Platidiam
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