RECAPITULATION. dols. Western Division 17,484,048 Middle Division 8,042,539 Eastern Division 25,708,372 ─────────── Total $51,234,239 Surveys, hospitals, shops, &c.; management and contingencies, 25 per cent. 12,808,740 ─────────── Grand total $64,043,699 ═══════════ The Canal Company has received from the Nicaraguan Government a concession which allows a period of 2½ years from 1887, within which to begin operations, a grant of 1,000,000 acres of land, and immunity from taxation and import duties for 99 years. The Canal Company estimate that by 1894, shipping to the amount of 8,000,000 to 9,000,000 of tons would avail itself of this route. The leading commercial bodies of New York, New Orleans, St. Louis, Cincinnati, Chicago, Indianapolis, and San Francisco, have expressed themselves favourable to the project, which has also been supported by the Legislatures of California and Oregon. The great majority of the people of the United States are only interested in the construction of a canal across the American isthmus, in so far as it will tend to make them independent of the Pacific railway companies, which have of late years shown a disposition to work together and pool their traffic at the expense of the traders. There is, perhaps, very little to complain of in this respect, so far as the average range of American railway rates is concerned. But the Americans are ’cute enough to know that if they could play off the steamship against the railway, the ultimate result, though it might be disastrous to both transportation agencies, would be favourable to the trader so long as the competition lasted. The actual present sea distance from New York to San Francisco, with an isthmian canal opened, would be shortened by 8000 miles. The distance, therefore, would not be materially greater by canal than by railway. The ship, however, all other things being equal, will always carry more cheaply than the locomotive.[211] Whether the difference would be very material when the canal company’s tolls have been paid remains to be seen.