The Suez Canal is a sea-level canal, and it was the one best known to European engineers.

The Soo Canal, through which an even greater volume of traffic passes every year, is a lock canal, and the American engineers were thoroughly familiar with it; whereas, in my judgment, the European engineers had failed to pay proper heed to the lessons taught by its operation and management.

Moreover, the engineers who were to do the work at Panama all favored a lock canal.

I came to the conclusion that a sea-level canal would be slightly less exposed to damage in the event of war; that the running expenses, apart from the heavy cost of interest on the amount necessary to build it, would be less; and that for small ships the time of transit would be less.

But I also came to the conclusion that the lock canal at the proposed level would cost only about half as much to build and would be built in half the time, with much less risk; that for large ships the transit would be quicker, and that, taking into account the interest saved, the cost of maintenance would be less.