ly France, Spain, and
Holland; but no accurate account of such trade has hitherto come in
the writer's way; though, taken collectively, it must be to a
considerable amount. Moreover, the whole trade between Holland and
Java, and between Spain and the Philippine Islands, would pass by the
channel under consideration, and the trade which both nations has with
these places is well known to be very considerable.

Such as it has been described is the trade at this moment; a sure
foundation upon which the magnificent undertaking under consideration
would, at the outset, have to build. The increased and increasing
communications through the grand thoroughfare goes beyond calculation,
and would most certainly exceed every thing that ever has been seen,
or that ever can be witnessed, in any other portion of this globe. The
trade of mighty empires would sink into insignificance, when compared,
in all their present magnitude, with what it would become one hundred
years hence. Admitting that it cost 1,000,000_l._ to complete the
navigable communication, (and there are good grounds to believe that
it could be done for one-half of the sum,) the question or point next
to be considered is, what would the revenue be, which could be derived
from it? To exact a per centage on the value of the commerce which
passes through it would be uncertain, and liable to evasion, and
consequently give much trouble, and occasion much vexation; and
therefore it would be best to exact so much per ton, the exact extent
of which the register of each ship or vessel so passing through the
canal would at once and readily determine. The question is, What
should the sum so levied, or the toll, actually come to be? Ten
shillings per ton would certainly be a moderate sum; and taking it so
it will be shown how it will pay at the outset.

_Cost and Revenue._ (p. 105)

Revenue 410,000 tons yearly, at 10_s._ L205,000
--------
Capital 1,000,000_l._ interest 5 per cent L50,000
Dividend in Stock 10 per cent 100,000
Expenses, management, and repairs 20,000
Surplus fund 35,000
------- L205,000
--------

Thus affording from the outset a fair an