Show NEW TR ATY IS SI6NED I I 7 Signatures Hay and Pauncefote Attached Ito I-to NewConvention Principal Point of Difference Between New and Failed Treaty Is Withdrawal of Great Britain From Joint Guarantee of Ncu I r T < trality of Canal Leaving I uncle Sam the Sole Guarantor f Washington Nov ISThc new Ha > j I Pauncefote treaty was signed tcdaxtti 1205 oclock by Secretary Hay for he United States and Lord Pauncefole tho British Ernbassador for Great Britain This treaty Is Intended to replace the llrst HayPaunccfote treaty That convention was amended so exten convonton ec sively by thq United States Senate at Its last session that the British Government Gov-ernment declined to ratify It Within 0 few weeks negotiations began afresh between Secretary Hay and Lord Pauncefote which have Just resulted In the signature of the new treaty drawn with special reference to the objections found by the Senate with the first treaty TEXT REMAINS SECRET From a due sense of the courtesy which must be observed towmd the United States Senate whenever a treaty is concerned the State department depart-ment Is estopped from making public tho text of the new convention jand that will remain secret until the Sen ale Itself shall bicak the seal of confidence confi-dence I Is said at the State department that the various publications which have been made of tho alleged text of the treaty are all erroneous and conjectural con-jectural though In view of the rather rtler free admissions that have been made of the purposes of the negotiators it I has been possible by the use of the text of the first treaty to construct one similar In general terms to the new convention cnventon NEUTRALITY OF WATERWAY The principal point of difference between be-tween the new and the failed treaty Is the withdrawal of Great Britain from tho Joint guarantee of the neutrality of tho canal thus leaving the United States the sole guarantor llc excIsion exci-sion of the old provision respecting the right to foullfy the canal Jcavcs that rjght by inference nalwltt the United States All commerce of whatever nationality passing through the canal will fare alike there will J bo no discrimination In rlitetf In f2voir of United States shipping Otherwise tIme new treaty Is In scope 1 similar to last years treaty I replaces technically the Glayton Bulwer treaty concluded on April 19 1850 By the terms of that old convention conven-tion the United States and Great Brit ain agreed that neither should seek any advantages s In J rights of transit across the Isthmus By the new convention con-vention Great Britain yields her right In favor of the United States which is thus at liberty to construct a canal ALL DONE FOR PRESENT PREs Nothing more remains to bq done as fur as this treaty Is concerned beforo the Senate meats or indeed until the treaty shall have been ratified rejected 1 or amended I it should be ratified the State department will proceed immedIately I i Im-mediately to negotiate the treaties 1 trates wllh Costa Rica and Nlcarairua for which it already has arranged In pro tocols pending before the Senate which I will permit the canal to be constructed and presclbe the terms upon which the I consent of Nicaragua and Costa Rica Is given I was in anticipation of this action It is presumed that the Nicaraguan Nicara-guan Government only recently renounced re-nounced the treaty of trade and commerce com-merce with the United States This treaty contained sections conveying rglhts as to canal construction which are to be replaced by more modern provisions I SIGNED WITH GOLD PEN There was no particular ceremony connected with the signature of the Important convention The treaty was I slynod by Secretary Hay with a gold pen In a silver holder which had been used In the signature of other conven tions and Is the personal property of 11 the Secretary |