nations engaged in maritime commerce,--and
sooner or later it will unquestionably be opened. This would be the
shortest route from Europe, North America, and the western coast of
Africa to every part of the western coast of the New World, to
Australia, New Zealand, the numerous islands of the Pacific and the
eastern coast of Asia,[1] as will be seen by a glance at the outline
map of the world on Mercator's projection annexed to this pamphlet.
The advantage of a Canal of sufficient size to allow large vessels to
proceed through the Isthmus is therefore obvious.

But by whom is this work to be undertaken? the question is certainly
not a British one alone, although the British Trade would derive
immense benefit from its solution: it is a question in which the whole
commercial world is more or less interested.

There must be either a combination of governments formed to defray so
much each of the expense, or the work must be accomplished by a Joint
Stock Company of individuals, who will indemnify themselves for their
outlay by levying tolls upon those who avail themselves of the
communication. As to such a combination of governments, the difficulty
of procuring a sufficient grant of public money opposes a great
obstacle to the realization of any such project.

To private enterprize chiefly then it must be committed; yet it may
reasonably be expected that such countenance and support as the
governments of the principal maritime powers can give, will be readily
yielded to any association that will undertake the work.

There are several considerations which point out the present as the
most auspicious moment for attaining the object in view. The profound
peace with which Europe and the whole civilized world is now blessed,
the abundance of capital in the money market, the present low rate of
interest, and the difficulty of finding investments, are all favorable
to the raising of the necessary funds; the immense strides which
science has made in overcoming natural difficulties, once deemed
insuperable, add to the means of accomplishment, while the growing
importance of British Colonies in and about New Zealand, the
inevitable impulse that recent events must give to the China trade,[2]
and the efforts of all maritime nations to make establishments in the
Polynesian Islands will render the Canal a certain source of profit
and honor to those who will aid in its formation.

Several parts of the Isthmus of America have been pro