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Period: to
Construction on the Canal
The construction on the Panama Canal was started in 1881. During that time the French still owned the Canal, so they were the first to start on it. The first French company ended up going bankrupt in 1889 after spending $287,000,000. The next companies also failed due to desease and sickness among the employees, which made it diffucult to pursue the work on the canal. After the U.S. gained control of Panama, they completed the work on the canal in 1912. The canal was officially opened in 1913. -
Spooner Act
The Spooner Act gave the the U.S. president, Teddy Roosevelt, the authorazation to buy the assets of the French company on the Panama Canal so the United States could work on the canal themselves. The act was written by John Coit Spooner, and the United States bought the assets of a company called Compagnie Nouvelle du Canal de Panama. -
Hay Herran Treaty
This treaty was the first attempt to hand over control of the canal to America. It was signed by Secretary of State John Hay, and Columbian foreign minister Thomas Herran, thus the Hay Herran Treaty. Although the U.S. Senate ratified it, the Columbian congress delayed the ratification hoping to increase the price, but they ended up rejecting the treaty because of dissatisfaction with the financial terms, loss of national sovereignty, and fear of "Yankee Imperialism." -
Panama Gains Independence
Teddy Rosevelt pushed and basically started a rebellion by the Panamanians to gain independence from Columbia. The U.S. helped Panama during the rebellion and impeded any interferance from Columbia. Panama gained their independence, and were greatful to the U.S. -
Hay Bunau Varilla Treaty
After The rebellion that the U.S. promoted, Panama was greatful to our country for helping. Through the Hay Bunau Varilla Treaty, the U.S. got exclusive control over the canal zone and permission to construct on the canal. The reason that the United States had an interest in this canal was because they wanted a shorter way to get from the Pacific to Atlantic Oceans, it would be very good for trade and economy reasons, and they wanted to grow their country and gain more power. -
Construction Begins on Locks
The United States start to work on the locks, which lift and lower boats passing through canal. These locks are 110 feet wide and 150 feet long, so they can lift a boat up to 85 feet. -
Panama Has Power Again
On December 31, 1999 The United States handed over full control of the Panama Canal to Panama through the Panama Canal Treaty of 1977. It took a while for Panama to gain full control because the U.S. and Panama were still making negotiations. From 1977 to 1999 Panama agreed to let the U.S. operate the canal until they took over. -
Resources
cioccahistory.pbworks.com/w/page/35686167/Hay Herran Treaty (1903) (second)
http://discover-centralamerica.blogspot.com/2011/11/flags-of-central-america.html
http://www.worldstatesmen.org/Panama.htm
http://commons.wikimedia.org/wiki/File:Panama_Canal_Locks_Construct.jpeg
http://thesilverpeoplechronicle.com/2007/08/negotiations-and-spooner-act.html
