Mr. Beaupré to Mr. Hay.
Bogotá, October 15, 1903. (Received 6.20 p.m., 18.)
The report of the committee referred to in my telegram of the 10th has been read in the Senate, was ordered printed, and will probably be discussed next week. It is true that the committee proposes a project for law ratifying the time extension granted canal company, [Page 209] but the tone of report clearly gives to understand that Colombia would greatly benefit by the canceling of the extension, and states that in that case Colombia would next year obtain possession of all the rights and properties of the canal company [and] thereby be free to come to terms with Government of the United States under most advantageous circumstances. The committee provides for the case of the annulment of time extension by recommending the appropriation of the necessary sum for the repayment with interest of the 5,000,000 francs paid by the French company.
In view of developing sentiment, my opinion of final result is less decided than stated in my telegram of 10th.