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do is look at it today, and you will appreciate what a grand old lady it is, over 60 years of age.
 The Senator's figures show that by the end of the century less than 10 percent of the ships of the world, represented by tonnage, can use it. So what are we going to do about that?
 Provisions in these treaties give us an opportunity to control the arrangements, the terms, and the method of the construction of a sealevel canal, which could be bult'within the life of the pending canal treaty, that is, between now and the end of the century, the provisions give us the protection of the veto power. In other words, _We reserve the right to negotiate for the construction of a sea-level canal.. Panama, in turn, promises not to deal -with any other country without, our consent.
 So, looking to the future, these treaties-and I give the Senator, from Alaska great credit for this, because he was one who was not looking to the past-a favorite occupation in this Chamber-but rather to the future. Accordingly, the treaty contains a provision, which gives us control over how a sea-level canal, built to accommodate the needs of the future, may be constructed in a manner sati;s-factory to the United States.
 As I understand the Senator's argument, this is what we ought to, be talking about: How do the treaties protect our future interest, how do they give us control over any future decision respecting the construction of a sea-level canal between now aiid the end of the century?'
 I agree with the Senator that this is the issue, unless one wants to concentrate exclusively on white elephants, ,ind confine the debate to the question of whether we should give this particular white elephant to Panama or keep it for ourselves. I commend the Senator; I think he has added something new, fresh, and extremely provocative to the discussion of these treaties.
 Mr. GRAVEL. I thank my colleague.
 Mr. CURTIS. Mr. President, will the distinguished Senator yield?
 Mr. GRAVEL. Before yielding, I would like to underscore one comment of our colleague. This goes back to the argument we have 'heard over many days that we should not give it away because it is so valuable. I hope the argument we heard this morning is not now going to be adopted-that we should keep it because it is such a great white elephant.
 I yield to the Senator from Nebraska.
 Mr. CUiRTIS. I thank the distinguished Senator. I take it the Senator predicts the declining utilization of the canal?
 Mr. GRAVEL. It is not my prediction. I would say that over the last 1o years there has been a declining utilization of the canal in respect to the total maritime fleet. There is a declining utilization, yes.
 Mr. CURTIS. Well, according to the studies von have produced yourself and others that you have availed yourself of, will total utilization of the canal decrease, or just the percentage of the total world's commerce?
 Mr. GRAVEL. 'Today the actual utilization in numbers of vessels has decreased. That is what that first chart shows there. We have projected andc missed the mark considerably. But because of the vessels getting larger, the tonnage predictions were quite accurate, and so they pre-