PANAMA CANAL.

Gisborne Times, Volume XXXIV, Issue 3797, 7 April 1913, Page 2

PANAMA CANAL.

EFFECT ON WORLD’S TRADE

THE COMING EXHIBITION

LONDON, March 2

A valuable paper dealing with the probable effects of tbe opening of the Panama Canal in 1915 on the trade of the world was read by Professor Hutchinson (University of California) before the Royal Statistical Society here.

Ho remarked that while the effects of opening the Canal would be profound, their importance could be. easily exaggerated. To many o? the most important parts of the globe the now Canal would merely open an alternative route; to several others it would offer no advantages whatever, and their trade would dine to present routes. The specific were Mexico, Guatemala, Honduras, Salvador, Nicaragua, Costa Rica, Columbia, Ecuador, Peru, Bolivia, Chili. China, Japan, the Philippine Islands, New Zealand, and Australia. While those countries were, on the whole, becoming better able to supply their own clothing materials and foodstuffs, they were rapidly increasing their demand for industrial goods, and the competition for the supnly of these goods was becoming more concentrated in the United Kingdom, the United States of America, and Germany, each of which possessed certain advantages and disadvantages in the trade.

THE FIGHT FOE THE TRADE. On the whole, during the last fifteen years, the German and American attack on the market had met with some success. England, although still holding nearly 50 per cent, of the trade, had declined, while the United States and Germany had both increased their, share. The fact that the United States, in spite of serious handicaps, had more than hold its own in the competition, pointed to an important advance -once the Panama Canal was in full operation: for that coun-. try would unquestionably reap greater benefits in increased accessibility of

the markets in question than England,, Germany, or any other European country. In Australasia, China, and japan, whoso markets, which were not only the most valuable to-day but also possessed the most promising possibilities of development, the Canal would offer facilities to -America far greater than to Europe. To European traders with whose countries it was a matter of relative indifference, so far as distance was concerned, whether the new roiito was opened or not; for it would notl greatly affect tho accessibility to them of these markets. Vessels, from English and German ports would actually lose time by choosing the Panama route, except to New Zealand. Unless'other advantages of the new route should develop, there was little likelihood that tho Suez or the Cape of Good Hope routes for Oriental and Australasian traffic with Europe would, in any very largo measure, bo abandoned. New_York, on the other hand, would find tho handicap 4 of distance under which her exporters now labored converted into a very advantage in distance for all important ports except Hong Kong and Manila. I?, in addition to those advantages, the promise of the recent American elections in relation to tariff revision were carried out, and-American exporters, especially of iron and steel products, wore thus relieves! of tho incubus of high cost of production and 1 , exaggerated importance of ' the Home market, it would he safe to predict a large expansion of American ’export trade with even the Oriental and Australasian countries, within a few years after the opening of tho new canal.

THE PANAMA EXPOSITION. This month there will be laid the corner-stone of the first building of the Panama Exposition which, it is claimed, will he the most costly and the most magnificent international exposition the world has seen. It will be held ill 1915. in celebration of' the opening of the Panama Canal to navigation. By next August the fourteen main exhibit buildings will be under construction. The gates will he opened to the public just two years hence, and will close the following November. Tho figures and plans of the exposition point to a display that will bo typical of America’s lavish wealth, youthful enthusiasms, fondness for spectacular effects, and the characteristic ambition to “lick creation.” The exposition will have a stupendous natural setting at Golden Gate, looking towards the sea, a surrounding um-phi-tlieatre of hills, a magnificent harbor dotted with islands, with a background of snow-capped mountains towering thousands of _ feet into a deep blue Californian skv. The eight great special exhibit palaces in the centre are to be surrounded by a wall 65 feet in height. The latter will he broken by three stupendous arches opening into three large courts, called respectively, the Court of tho Sun and Stars, tho Court of Festivals, and tho Court of the Four- Seasons. The first of these will be 750 feet wide and 900 feet long, and ornamented in Italian renaissance style. Before the courts will bo a colonnade in classic style, which will hear 110 figures, 14 feet high, the latter to tell the story of the East and West. A ‘commemorative arch,’ a fourth Court of .Joyousness, sunken gardens with statuary, dancing figures, nymphs, flowers, trees, vines, and seats for 7000 people are other special features. There is to he a colossal column, the spirals of, which will depict man’s climb towards success, and at the summit will stand a figure representing achievement. Twenty-four countries have accepted the invitation of the United States to he represented on the exhibition grounds and join m the ceremonies of celebration. The various States of the union will also have their separate buildings. California alone lias appropriated £200,000 for this purpose. The automobile industry will receive special attention. The total cost, is estimated at £10,000.000, which is slightly more than tlie cost of the St Louis Exhibition of 1904, and considerably more than the great fairs in Paris in 1900 and in Chicago in 1893.

THE SAN FRANCISCO EXPOSITION. SAN FRANCISCO. March 3. The world’s exposition to he held in San Francisco in 1915 to celebrate the completion of the Panama Canal is being planned along the most ambitious lines of any such fair yet organised in this country. The building will he on a more magnificent scale than thoso erected at either Chicago or St. Louis, the exhibits will he more numerous, and the ground space covered larger, and it is confidently expected that there will he more visitors from foreign nations than any other exposition has attracted. In a statement just issued by Charles C« Moore, president of the Panama-Pacific International Exposition, it is unequivocally promised, that x the fair will be opened to the'public on the 4th February, 1915, the day officially set Twenty-eight of the nations of the world' have accepted the invitation issued by President Taft to participate in the exposition. In the last few months the people of San Francisco have seen many a gay spectacle when delegations from European or Asiatic countries have visited this city for the purpose of choosing the site of their respective countries’ building. Among such delegations have been thoso from China, Japan France, and Spain. Practically every State of this country has appropriated money for a State exhibit. The grounds upon which the exposition buildings will he erected are within the city limits and on the shores of the Bay of San Francisco. Much work has already been accomplished in dredging and filling in tho land and in the erection of service buildings. That Califonia is prepared to handle the _ exposition on broad and generous lines is apparent from tlio fact thah nearh. £4.00/) <’o9 has been pledged by the State and by the -city of San Francisco for the expenses. Many world' conventions will meet hero during the exposition, and the champions in all lines of sport and competitive endeavor will he invited to exhibit their prowess. Tho exposition should certainly afford an unexampled opportunity to people of Australia and New Zealand to exhibit their manufactures and natural products to tho people of America.