The traffic of the Suez Canal during the first two years was relatively small, for the reason that the canal is not a practicable one for sailing vessels, and steam vessels had to be built. These, being much less efficient than freight steamers are to-day, were slow in securing the trade that had been enjoyed by the sailing vessels. The rate of tolls charged by the Suez Canal Company has declined steadily since the canal went into operation. On January 1, 1912, they approximated $1.30 a ton, with a reduction of nearly a third for vessels in ballast. On January 1, 1913, the rate was made approximately $1.20 a ton, the fraction of a cent higher than the rate at Panama. The passenger tolls are $2 for passengers above 12 years and $1 for children from 3 to 12 years of age; children below 3 years are carried free. The highest toll charged on the Suez Canal was in 1874 when it was $2.51 a ton. The Suez Canal has proved highly profitable to its owners. No one believes that the Panama Canal will yield as great a return on the capital invested. The cost of the Panama Canal will be four times the cost of Suez, and it is doubted by traffic authorities whether the Panama Canal will ever handle as much business. The Manchester Ship Canal, which connects Manchester with Liverpool, was constructed only after years of preliminary agitation. There was opposition by the railways, and from the industrial and commercial centers with which Manchester competes. Over 300 petitions were presented to Parliament before its consent was obtained for the construction of the canal. Work was begun in November, 1887, at which time it was estimated that the canal would cost $42,000,000. It was opened for traffic January 1, 1894, after $75,000,000 had been spent in building it. Of this about $60,000,000 went into actual construction work. The Manchester Canal is 35-1/2 miles long. It extends from Eastham, about 6 miles from Liverpool, to Manchester. Its original depth was 26 feet, but this has been increased to 28 feet. Ships with a length of 550 feet, a beam of 61 feet, a height of 70 feet, and a draft of 27 feet can use the canal. There is a difference of 58 feet 6 inches in level between Eastham and Manchester, and this is overcome by five sets of locks. The highest lift is 16 feet. The Manchester Canal Company owns the Bridgewater Canal and makes connections with 13 other barge canals. It handles about 6,000,000 tons of freight a year, of which the bulk is sea-borne. Although it connects with 13 barge canals, the amount of barge traffic handled is less to-day than it was a decade ago. From the beginning the Manchester Canal has had to compete with the railroads, and they cut their rates to such a basis that they get the business and force the canal company to operate as a losing venture to its stockholders.