Ferdinand de Lesseps has to contend not…

Ferdinand de Lesseps has to contend not only with enemies who hamper financing by spreading rumors of failure and dumping stocks and bonds on the market but also with venal French politicians and bureaucrats who demand large bribes for approving the issue of securities.

His efforts to get the French government to guarantee his bonds are blocked by the United States, on the grounds that such action will lead to government control in violation of the Monroe Doctrine.

The end result is the appointment of a receiver to liquidate the company in January 1889, whereupon all work stops.