Clemenceau, the Man and His TimeHyndman, H. M. (Henry Mayers)
History
Clemenceau, the Man and His Time
Hyndman, H. M. (Henry Mayers)
Clemenceau, Georges, 1841-1929; France -- Politics and government -- 1870-1940
The great name of de Lesseps covered the whole risk and rendered
criticism quite useless. But the management of the excavation was
wildly incapable and inconceivably extravagant. It was very soon
discovered that the original estimates were absurdly at variance
with the cost of the real work to be done. The entire enterprise, as
undertaken in 1884, was entered upon possibly in good faith, but in
a wholly irresponsible and ignorant manner. In spite of warnings as
to the certainty of encountering exceptional obstacles, no steps were
taken to provide against contingencies, to inform the shareholders
as to the position, or to revise the plans in accordance with the
facts. The canal was inspected by M. Rousseau at the end of 1885. This
engineer gave a most unfavourable report in regard to the excavations
and constructions already carried out at vast expense, and the
enormous additional sum needed to give any chance of completing the
works. Instead of honestly facing this most unpromising situation and
disclosing to the shareholders the real state of the case, or declaring
that at least three times the amount would be required to bring the
project to a satisfactory conclusion, and calling for this huge sum
at once, the directors resorted to all the worst tactics of the
unscrupulous promoter. This part of the matter went into the hands of
M. Jacques Reinach and M. Cornelius Herz, names and persons afterwards
covered with obloquy in connection with the whole affair. They set to
work systematically, and were restrained by no inconvenient scruples.
Strong political influence in both Chambers was needed in order to
obtain the passing of the Panama Lottery Bill. Strong political
influence was bought, though the Bill itself was not carried. From
1885-86 onwards this wholesale bribery was continued on an enormous
scale.
The company was as careless of men's lives as it was of shareholders'
money. Labourers from all parts of the world had been gathered
together in what was then a deadly climate, without proper sanitation
or reasonable medical attendance. Some time prior to the financial
troubles it was known that such anarchy and horror prevailed on
the Isthmus that intervention by the French Government, or even by
an international commission, was called for. Nothing but the great
reputation of de Lesseps could possibly have upheld such a state of
things, or have obtained more and still more money to perpetuate the
chaos. Even when the truth as to the frightful mortality of the men
employed and the incredible waste, due to incompetence and corruption,
must have been known to the President of the Company (M. de Lesseps
himself) and his fellow-directors, when, likewise, they must have been
convinced that the company was drifting into a hopeless position, they
still appealed to their countrymen for more and more and more money
to throw into the bottomless quagmire at Panama, and sink of French
savings in Paris, to which the whole company had been reduced.
Public-domain text, read in full here on John Shaqi.
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