The importance of the part which the Departments of Agriculture
and of Commerce and Labor may play in ridding the markets of
Europe of prohibitions and discriminations against the importation
of our products is fully understood, and it is hoped that the use
of the maximum and minimum feature of our tariff law to be soon
passed will be effective to remove many of those restrictions.
The Panama Canal will have a most important bearing upon the trade
between the eastern and far western sections of our country, and
will greatly increase the facilities for transportation between
the eastern and the western seaboard, and may possibly
revolutionize the transcontinental rates with respect to bulky
merchandise. It will also have a most beneficial effect to
increase the trade between the eastern seaboard of the United
States and the western coast of South America, and, indeed, with
some of the important ports on the east coast of South America
reached by rail from the west coast.
The work on the canal is making most satisfactory progress. The
type of the canal as a lock canal was fixed by Congress after a
full consideration of the conflicting reports of the majority and
minority of the consulting board, and after the recommendation of
the War Department and the Executive upon those reports.
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