The Tunnel
"After long and careful consideration of the subject and the examination of 'persons papers and records,' the Committee reported on April 18th, 1883, in the following words: 'It is the unanimous opinion of the members of Committee, confirmed by the testimony of witnesses of large practical experience, that no steamship can he built capable of keeping up continuous communication in midwinter."
Captain Finlayson himself, and a number of expert winter navigators gave the evidence on which this finding of committee is based. The only way such continuous communication can be secured is by means of a tunnel.
M. J. Haney, C. E., Toronto, one of Canada's largest contractors, made an offer to the goverment to construct equip and hand over the Tunnel in six years, without exacting further data than is now available, for the round sum of ten millions of dollars. We believe it can be profitably built for less money. Urged to make a lower offer, Mr. Haney writes us the following letter which shows his willingness to proceed on the original proposition and his faith in the undertaking:
Toronto, May 10th, 1905.
Dear Father Burke:—I am in receipt of your note from Montreal and regret that I was not aware of your presence in Toronto until after you left town. I notice by the press that you are placing the tunnel project more prominently and practically before the Goverment and the people of Canada than has ever been done before; and it only requires such effort to make it an accomplished fact in the very near future.
In a project of this magnitude there cannot be any bargaining as to price. The difficulties and risk are such that the present figure I gave you—$10,000,000—is so near the mark and is so easily calculated as to meet the requirements as to interest, compared with cost of present service, etc., * * *. The price must be sufficient to ensure success first. I have quietly discussed the project with many and have found everyone much interested.
Yours very truly.
M. J. HANEY.
Another offer to Sir Wilfrid Laurier from Thomas C. Dougherty, New York, April 13th, 1905 states that one of the largest financial institutions in America will guarantee to finance the building and equipment of the proposed Tunnel, provided that the Government will guarantee the bonds on ten millions, at 4½ and to mature in 50 years.
11
