Wikipedia writes: De Lesseps went with his youngest child to Panama to see the planned pathway. He estimated in 1880 that the project would take 658 million francs and eight years to complete. After two years of surveys, work on the canal began in 1882. However, the technical difficulties of operating in the wet tropics dogged the project. Particularly disastrous were recurrent landslides into the excavations from the bordering water-saturated hills, and the death toll from malaria and yellow fever. In the end, insufficient capital and financial corruption ended the project. The Panama Canal Company declared itself bankrupt in December 1888 and entered liquidation in February 1889.