nanimously recommends the route through Nicaragua, instead of
through Panama.

1875--France forms a company to secure from the Republic of Colombia,
which again controls the Isthmus, the rights to build a canal across,
and to operate it for ninety-nine years. Lieutenant Lucien B. Wyse of
the French Navy makes a survey and a report.

1879--An International Congress of 135 delegates, eleven being from the
United States, is held at Paris, to discuss the route for a canal.
Ferdinand de Lesseps, French engineer who had built the Suez Canal,
presides. The route selected is that through Panama, between Colon and
Panama. The Universal Company of the Panama Interoceanic Canal is
incorporated. De Lesseps is made chief engineer. He calculates that
the canal can be built in eight years, at a cost of $127,000,000.
Shares in the company are widely sold.

1881--Work on the French canal is started.

1892--The French company has already spent eight years and
$260,000,000, and has accomplished little actual headway. An enormous
amount of money has been wasted. The company is declared insolvent and
a receiver is appointed by the French court.

1894--The company is reorganized as the New Panama Canal Company. In
five years it expends $8,000,000, in work on about two-fifths of the
canal.

1899--By authority of Congress President McKinley appoints an Isthmian
Canal Commission to investigate the property of the French company and
see by what methods it can be purchased. The commission in its report
recommends a route up through Nicaragua. Estimates are made that
$102,000,000 and ten years' work will be required.

1901--The question of a Panama canal or a Nicaragua canal is debated in
Congress. Expert opinion from engineers and shipping interests favors
the Panama route.

1902--By authorizing the purchase of the French company's property and
franchises for $40,000,000 the United States declares its purpose to
build a Panama canal itself. The Secretary of War is instructed to
make plans upon an expense basis not to exceed $130,000,000.

1903-1904--The United States formally takes over the French rights and
concludes a canal treaty with Panama, the canal to be completed in
fourteen years.

1904--The Canal Commission appointed by the President and under
supervision of the Secretary of War, William H. Taft, arrives on the
Isthmus to pursue the building of the canal. John F. Wallace is
engineer-in-chief. The commission de