Had the United States
accepted the offer made by Nicaragua, and thus obtained the exclusive
privilege of opening and controlling the canal, we could have opened it
to the commerce of the world, on such terms and conditions as we should
deem wise, just, and politic; and it would have been more creditable to
us as a nation to have acquired it ourselves, and opened it freely to
the use of all nations, rather than to have entered into a
co-partnership by which we not only have no control in prescribing the
terms upon which it shall be opened, but lose the right of future
acquisition and control of Central American territory. Had we accepted
it (or should we accept the recent offer of Nicaragua to the same
general effect) we should have held in our possession a right, and a
might, which would have been ample security for every nation under
heaven to have kept the peace with the United States.
Honorable Stephen A. Douglas, in commenting upon the conduct of the
State Department of 1849 and 1850, said: "When we surrendered this
exclusive right we surrendered a great element of power, which in our
hands would have been wielded in the cause of justice for the benefit of
all mankind.
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