"This problem of interoceanic communication has been justly said to possess not only practical value, but historical grandeur. It clearly links itself back to the era of the conquest of Cortez, three and a half centuries." [1] It is a problem which has been left for our modern era to solve, but nevertheless its history is thereby rendered still more interesting, having needed so many centuries to bring it to an issue. [Footnote 1: From Prof. Nurse's historical essay. See Survey of Nicaragua Canal, by Com. Lull.] Spain, which acquired through her Columbus a new empire, lying near, as it was supposed, to the riches of Asia, could not be indifferent, from the moment of her discoveries, to the means of crossing these lands to yet richer ones beyond. India, from the days of Alexander and of the geographers, Mela, Strabo, and Ptolemy, was the land of promise, the home of the spices, the inexhaustible fountain of wealth. The old routes of commerce thither had been closed one by one to the Christians; the overland trade had fallen into the hands of the Arabs; and at the fall of Constantinople, 1453, the commerce of the Black Sea and of the Bosphorus, the last of the old routes to the East, finally failed the Christian world. Yet even beyond the fame of the East, which tradition had brought down from Greek and Roman, much more had the crusaders kindled for Asia (Cathay) and its riches an ardor not easily suppressed in men's minds. The error of the Spanish Admiral in supposing that the eastern shores of Asia extended 240 degrees east of Spain, or to the meridian of the modern San Diego, in California--this error, insisted on in his dispatches and adopted and continued by his followers, still further animated the earlier Spanish sovereigns and the men whom they sent into the New World to reach Asia by a short and easy route. Nobody in Europe dreamt that Columbus had discovered a new continent, and when Balbao, in 1513, discovered the South Sea, then it was known that Asia lay beyond, and navigators directed their course there. On his deathbed, in 1506, Columbus still held to his delusion that he had reached Zipanga, Japan. In 1501 he was exploring the coast of Veragua, in Central America, still looking for the Ganges, and announcing his being informed on this coast of a sea which would bear ships to the mouth of that river, while about the same time the Cabots, under Henry VII., were taking possession of Newfoundland, believing it to be part of the island coast of China.