Wherever the United States decides to locate its new sea-level canal in Central America, the local economy will be dramatically affected-upwards. Virtually 100% of Panama's revenues ($90 million last year) are generated by the present canal. The new canal will unquestionably float similar benefits. But happy though the U.S. might be to see all the Central American nations so well-fixed financially, the new canal can only go in one place, and last week it looked as if that place would again be Panama-barring unforeseen treaty complications and further anti-U.S. riots like those of last Jan. 9.
The new canal will probably...
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