Panama Books

“The Panama Canal Zone was the only Latin American territory not acquired as a result of the war with Spain; however it was governed as if it had been. As president, Theodore Roosevelt understood the importance of a canal connecting the Atlantic to the Pacific Ocean. It would allow the United States to move its fleet from one coast to the other in a relatively short time, which had been a major problem during the war with Spain. To facilitate this he received authorization from Congress to purchase the assets of the failed French attempt to build a canal. The primary obstacle was in acquiring the necessary land to build a canal across the Isthmus of the Americas, which prior to 1903 was part of Colombia. When the United States showed an interest in building the canal, the Colombian government immediately demanded a larger percentage of the tolls than had been previously agreed upon with the French. Negotiations dragged on through 1902 and into 1903. Early in 1903, the United States signed a treaty with the Colombian government, giving the United States a strip of land 6 miles wide, from the Caribbean to the Pacific Ocean. On August 12, 1903, the irate Colombian Senate unanimously voted down the agreement and refused to give the United States the land. Panamanian insurgents with the backing of the United States perpetrated a revolt against the Colombian government, causing Colombia to lose the coveted parcel of land north of its present border. The fledgling nation of Panama was protected from Colombia by a dense jungle and the might of the United States.
On November 3, 1903, after 57 years of policing Bogotá's interests, the United States, looking out for its own best interests, sided with Panama against Colombia. A treaty was quickly drafted between the two new allies, giving Panama $10,000,000 of investment money, plus $250,000 per year in perpetuity. It also allowed the United States to purchase the remaining French assets that had been left behind. On November 18th, with the signing of the Hay-Bunau-Varilla Treaty, the Panama Canal Zone was formed.”
― Captain Hank Bracker, The Exciting Story of Cuba