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This memorandum outlines the differences in proposed contracts of the construction of the Pamana Canal between Walston H. Brown, railroad builder, and John F. Stevens.
Library of Congress Manuscript Division
1907-03-03
After serious review, President Roosevelt asks Chairman Shonts whether to accept a bid for the construction of the Panama Canal under the present contract or to reject all bids entirely. Roosevelt cites that the two most desirable bids, McArthur Syndicate then William J. Oliver and Anson M. Bangs, fit all the requirements with exception to “the least expense of the Government” due to the bidders’ desire to split profits with investors. Roosevelt also informs Shonts of the resignation of John F. Stevens, chief engineer of the project, and solicits to have him replaced with Major George W. Goethals, who agrees with Roosevelt and Stevens that a new contract must be drafted. In the meantime, he requests that the Commission reject the two bids aforementioned.
Library of Congress Manuscript Division
1907-02-26