Thus it is evident that, in spite of geographical advantages, there are at present some grounds for the extreme opinion sometimes expressed in the United States that the Canal is being built with American money for the use of Europe--and, one may add, of Japan. What attempts may be made to remedy this state of things, and what effects such attempts may have, are matters on which I shall not stay to speculate. CHAPTER VII THE COST OF THE CANAL OF the existing canals for ocean-going ships, that of Suez was built by a company as a commercial undertaking to earn dividends by tolls. It cost $90,000,000. The Manchester Ship Canal was partly commercial, partly industrial, _i.e._, the large contribution of the city of Manchester was made not as a financial speculation, but in order to promote an undertaking likely to develop the industries of the city. This canal, partly commercial, partly industrial, cost $75,000,000. The Kiel Canal has further a military purpose, providing a short line of communication for warships. It cost $40,000,000. The Panama Canal is commercial, industrial, and military, and will cost more than all the above put together. [Illustration: PALACE OF PRESIDENT OF THE REPUBLIC OF PANAMA.] [Illustration: OLD FLAT ARCH AT PANAMA.] Up to June 30, 1908, the United States Government have spent $126,047,062 on the Panama Canal, made up as follows:-- Payment to New Panama Canal Company $40,000,000, and to Republic of Panama $10,000,000 $50,000,000 Expenditure on work prior to July 1, 1907 43,172,408 Expenditure on work July 1, 1907-June 30, 1908 32,874,654 ----------- Total 126,047,062 The amount authorised to be appropriated by the Act of June 28, 1902, was $135,000,000, plus $50,000,000 purchase money, that is to say, $185,000,000 in all, for "the canal, harbours, and defences." What the total cost will be is unknown, but Colonel Goethals stated in evidence (January, 1908) that the Canal would cost at least $250,000,000, and possibly as much as $500,000,000. The combined cost of the Suez, Manchester, and Kiel Canals has been $205,000,000. The following important ship canals have been completed for smaller sums:-- U.S.S. St. Marie (somewhat more than) $6,000,000 Canadian ditto nearly 4,000,000 Amsterdam 10,000,000 Corinth (about) 5,000,000 Cronstadt (about) 10,000,000 Welland (Lake Erie-Lake Ontario) 24,000,000 ---------- Total 59,000,000