The Panama CanalHaskin, Frederic J. (Frederic Jennings)
History
The Panama Canal
Haskin, Frederic J. (Frederic Jennings)
Panama Canal (Panama)
Canada, too, will feel the stimulus of the canal. No longer will its
great crops have to find their slow outlet over railroads that must
cross the backbone of a continent, but, pursuing the avenues of least
resistance, they may move to all parts of the world by way of the
Great Lakes and the Mississippi River.
South America will greatly benefit by the completion of the canal.
Already its west coast countries and cities are getting ready for the
boom of business that is to follow. Brought thousands of miles nearer
to all western trade centers--so close that their raw products and
American manufactured products can be exchanged to advantage--there
will be a growth of trade whose prospect already has awakened the
lethargic South American to the possibilities ahead.
These possibilities well may be considered by the business men of the
United States. To-day North America buys a large percentage of the
products of South America; but, when the South Americans have money to
spare, they spend only $1 out of $8 in North America--the other $7
goes to Europe. The American exporter will find himself quickened by
the history-making change the canal will produce and, if he goes at it
in earnest, he will be in a position to reverse the present situation
and get $7 of South American trade where Europe gets only $1.
Australia and New Zealand will experience, perhaps, a greater change
in the trade routes than any other countries outside of the Americas.
The Australian commerce now is largely carried by way of Suez. The
opening of the Panama Canal will place New Zealand 1,200 miles nearer
to London than it is by way of Suez, and the eastern ports of
Australia will be as near to England by way of Panama as by Suez. All
Australasian ports will be brought several thousand miles closer to
the Atlantic ports of the United States than they are to-day. No one
who has heard an Australasian complain of the long delays and the
excessive freight rates that intervene between him and his American
shoes, can doubt that the closer proximity of American markets will be
welcomed in that faraway land under the southern cross. Sydney will be
4,000 miles nearer to New York through the Panama Canal, and 5,500
miles nearer to New Orleans and Galveston.
Public-domain text, read in full here on John Shaqi.
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