Monday, Jul. 23, 1923
In Panama
About eight months ago Brigadier General Jay Johnson Morrow, Governor of the Canal Zone, predicted that traffic through the Panama Canal would soon quadruple. His prediction seems likely to come true even sooner than he probably expected, for, in announced figures on Canal traffic for the fiscal year recently closed, he found that the rate of travel is now double that of a year ago, and tolls for the next year, at the present rate, will exceed $24,000,000, of which about $18,000,000 is profit above over-head expense.
During the War Governor Morrow, a Brigadier General, was Chief Engineer of the First Army. In the Spring of the following year he was given a permanent rank of Lieutenant Colonel and made Acting Governor of the Canal Zone. Later he became actual Governor and continued in that post after retirement from the army a year ago. In March of this year he was created a Brigadier General in the reserves.
Governor Morrow, in his recent announcement, pointed out that the great increase in Canal traffic was largely traceable to the oil trade which has sprung up between California and the Atlantic states since the decline of production in the Mexican oil region around Tampico. In addition to this there was a 10% increase in the amount of other cargoes which passed through the Canal. The month of May set a new high record for tolls collected, $1,972,216. Sixty per cent, of the vessels using the Canal were United States ships.
Said the Governor: " Simply as an investment the Canal has made good. . . . The Canal itself and its equipment were designed to handle a much larger volume of business than is now in sight, and it will be many years before its capacity in any direction will be overtaxed. In the meantime increases of traffic, by permitting a wider distribution of overhead expenses, result in greater economy of operation. . . . Americans who feel an intelligent interest in this outpost of our civilization may rest assured that all is well at Panama." Governor Morrow's brother, Dwight W. Morrow, partner of J. P. Morgan, arrived in Panama a fortnight ago for a visit.