I fully expected to enjoy reading McCullough’s historical overview because I liked his style in 1776 and other books.What was unexpected was the story’s value as a business book, too.
McCullough uses frequent mentions of actual companies and brands to remind us of the important contributions of the private sector in this engineering innovation.
From Chapter 1
Stowed below on the “Guard” was the finest array of modern instruments yet assembled for such an undertaking--engineers' transits, spirit levels, gradienters, surveyors' compasses and chains, delicate pocket aneroid barometers, mercurial mountain barometers, current meters--all "for prosecuting the work vigorously and scientifically." (The Stackpole transits, made by the New York firm of Stackpole & Sons, had their telescope axis mounted in double cone bearings, for example, which gave the instrument greater rigidity than older models, and the introduction of a simplified horizontal graduation reading allowed for faster readings and less chance of error.)
In the midst of appreciating the construction highs and lows, he also sheds revealing light on the level of ineptitude, malfeasance, and amazingly blatant lies told to early investors. Clearly, the vision was large and the leaders charismatic in selling it. But the headline from THE NEW YORK TIMES on November 22, 1892 shows the collapse to be on a scale of Enron in its day:
A BIG FRENCH SCANDAL
AFFAIRS OF THE PANAMA CANAL COMPANY TO BE EXAMINED. –
-- TURBULENT SCENE IN THE CHAMBER OF DEPUTIES
-- DELAHAYE'S SWEEPING CHARGES OF BRIBERY
-- SENATORS, DEPUTIES, MINISTERS, FINANCIERS, AND EDITORS ACCUSED.
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