so frequently occurred in that region. The stake is too important to
be left at the mercy of rival companies claiming to hold conflicting
contracts with Nicaragua. The commerce of other nations is not to
stand still and await the adjustment of such petty controversies. The
Government of the United States expect no more than this, and they will
not be satisfied with less. They would not, if they could, derive any
advantage from the Nicaragua transit not common to the rest of the
world. Its neutrality and protection for the common use of all nations
is their only object. They have no objection that Nicaragua shall demand
and receive a fair compensation from the companies and individuals who
may traverse the route, but they insist that it shall never hereafter
be closed by an arbitrary decree of that Government. If disputes arise
between it and those with whom they may have entered into contracts,
these must be adjusted by some fair tribunal provided for the purpose,
and the route must not be closed pending the controversy. This is our
whole policy, and it can not fail to be acceptable to other nations.

All these difficulties might be avoided if, consistently with the good
faith of Nicaragua, the use of this transit could be thrown open to
general competition, providing at the same time for the payment of a
reasonable rate to the Nicaraguan Government on passengers and freight.

In August, 1852, the Accessory Transit Company made its first
inter-oceanic trip over the Nicaraguan route, and continued in
successful operation, with great advantage to the public, until the 18th
February, 1856, when it was closed and the grant to this company as well
as its charter were summarily and arbitrarily revoked by the Government
of President Rivas. Previous to this date, however, in 1854, serious
disputes concerning the settlement of their accounts had arisen between
the company and the Government, threatening the interruption of the