Then it was that the advice of Mr. Eiffel, a noted French engineer, was sought, and after a visit to the Isthmus he proposed that the summit level should be supplied by pumping from the Pacific. A contract was immediately made with Eiffel, who was heralded all over the world as the man who would save the canal, and immediately a positive day, the seventh that had been announced, was fixed for the opening of the great canal. I do not know just how much work was done towards perfecting the system for pumping, but probably very little was ever accomplished in this direction, as soon after this scheme was thought of the available funds of the canal company began to be very scarce, and there has been since then a general collapse of work all along the line until now it is entirely suspended. From what I have said and from what can be seen from the profile, it will be readily understood that as far as the sea-level project is concerned the amount done is not much more than a scraping of the surface, relatively speaking, and that what has been done is in places where the obstacles were fewest. In regard to the lock canal about one third of the necessary excavation has been made along the axis of the canal, but taking into consideration other requirements necessary for the completion of the scheme, I should estimate, roughly, that probably only one sixth of the whole amount of work had been accomplished. The question now naturally arises as to what will be the probable future of this great enterprise. The French people have seen the scheme fail under Lesseps in whom they had the most unbounded confidence, and it is not likely that they will raise any more money to be put in it as a business enterprise under any other management. Saddled as it is with a debt of nearly four hundred millions of dollars, it would be difficult to convince any one that it could ever prove to be a paying investment. Nor do I think that any American or English corporation can be organized that could obtain such concessions from Lesseps as would make the scheme an inviting field for capitalists, and thus my opinion is that the _"Compagnie Universelle du Canal Interocéanique de Panama"_ has irretrievably collapsed, and that the canal will remain, as it is now, the most gigantic failure of the age. ACROSS NICARAGUA WITH TRANSIT AND MACHÉTE. BY R. E. PEARY. The action of this National Society, with its array of distinguished members, in turning its attention for an hour to a region which has interested the thinking world for more than three centuries gives me peculiar pleasure and satisfaction.