OCR Text |
Show PANAMA CANAL REVENUE. Considerable satisfaction exists in Washington because of the showing made by the Panama canal for the first year of its operation. The tolls levied during the first fiscal year of the canal not including $80,872 levied on vessels ves-sels of the United States governments amounted to $4,343,383. The current expenses ex-penses for operation and maintenance during the year were $4,112,550. If the canal can pay expenses in a year of such interruption to the world's shipping, what will it be able to do in a normal year! Of course, the canal cannot can-not be said to be paying until it earns interest on the investment, but that should be easy in piping times of peace. Moreover, the canal's value cannot be estimated solely on the basis of revenue returns to the government. There is the element of increased profits for American Ameri-can trade to be considered. All in all, the Panama canal has made a most auspicious au-spicious start and this renders us eager for the days,- of peace, when the canal should reveal itself as one of the world's most profitable investments from every point of view. No German or Austrian vessel has yet passed through the waterway. From August Au-gust 14, 1914, when the canal was opened for business, to July I, 1SI15, representing represent-ing the caual's first fiscal year, 1088 vessels had passed through, carrying an aggregate of 4,969,792 tons. |