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The Scottish Review (Volume 8)

The Scottish Review (Volume 8)


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1886. Excerpt: ... mates, the scamping of the work, the inadequacy of the canal to give passage to more than nine vessels per day, the enormous salaries and other expenses of administration, the prodigious profits made by the contractors, and the half million of money paid to the projectors who, under the magnificent title of trustees, had contributed the noble sum of 260 to the preliminary expenses of the undertaking. Success covers a multitude of faults--and, from a shareholder's point of view, 16 per cent, dividend is very brilliant success. Such as it was, however, it encouraged the founders to commence their next speculation on a much bolder scale. The story of the Panama Canal has been recently told, up to a certain point, in a little book, by Mr. J. 0. Kodrigues, which has been published by Messrs. Sampson Low, & Co. It is one which, were it not for the undeniable vouchers adduced, would be simply incredible. Europe has seen no such scandal since the time of Law. M. Paul Leroy-Beaulieu, in the Economiste Francois, in August, 1885, gave a study of the scheme; and the editor expresses the fear that it will prove 'the most terrible financial disaster of the nineteenth century.' As the foisting upon the public of a ruinous scheme is one of the most effective modes of preventing the action of bond fide and remunerative enterprises, it is highly important that the real features of the Panama project should be accurately known. 'The idea of piercing the Isthmus between the two Americas is, ' says Mr. Kodrigues, 'almost contemporaneous with the first knowledge of the Isthmus itself.' We must refer to the work quoted for the history of the various schemes down to the time when, in May 1879, a 'congress' of 135 persons, of whom 74 were Frenchmen, was held at Paris, and re...


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Product Details
  • ISBN-13: 9781153858243
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 170
  • Spine Width: 9 mm
  • Width: 189 mm
  • ISBN-10: 115385824X
  • Publisher Date: 05 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 367 gr


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