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If M. de Lesseps’ scheme of the Panama Canal should happen to be completed on his Suez Canal line, undoubtedly the Pacific Ocean would be revolutionized in every way. Up to now the waterway from Europe to the Pacific has been from the West, viz., viâ the Suez Canal, or the Cape of Good Hope.

But in case of the “gate of the Pacific” being open, then European goods could be transported in another direction, and the nations in the Pacific would have two sea routes. Japan would be placed practically in the centre of three large markets—Europe, Asia, and America—and its commercial prosperity would be ensured.

If, however, the Panama scheme failed from one cause or another there would be another sea route.^[14]

In 1887 the American Senate sanctioned the creation of a company for the construction of a maritime canal across Nicaragua,^[15] and the actual work was begun in October, 1889.

The President of the country, which has a surplus of 57,000,000 dollars, alluding to the commencement of the Nicaragua Canal said in his message to the Senate:—