The Panama Treaty of 1903 (Essay Sample)

THE PANAMA CANAL TREATY OF 1903 Student's Name: Subject: Date:  In 1903, the United States acquired full rights to the establishment of a Canal along the Isthmus of Panama. The exclusive rights was granted after Panama agreed to sign the HAY-Herran Treaty with the U.S. The agreement outlined in the Treaty contributed to the signing of the accord since it gave financial compensations and protection to the new Panama republic. The U.S Navy took over the Panama territory immediately after the approval of the treaty by the senate. Panama acquired its sovereignty and would no longer be under the control of Colombia. Thus, it is essential to focus on the key developments and people that led to the signing of the Panama Treaty in 1903. Key Developments and People that Led to The Panama Canal Treaty of 1903 The United States had portrayed interest in the Central American isthmus from the onset of the nineteenth century. For instance, in 1835, the United States Congress asked President Roosevelt to negotiate treaties with neighboring nations for the protection of any state that builds a Transisthmian canal . These events built up and resulted in the signing of Clayton-Bulwer Treaty by the U.S and England in 1850 . Through this treaty, both countries agreed that they would exclusively monitor the canal and would be responsible for protecting its neutrality. Fifty-one years later, the two countries changed their earlier agreement by signing the Hay-Pauncefote Treaty that was focused on their agreement that the transisthmian canal "shall be open to all vessels in all the countries regarding full equality" . Panama was a province of Colombia long before signing the Treaty in November 1903. In 1879, a French company acquired a concession from Colombia that enabled it to establish a canal along the Isthmus of Panama . The company stopped constructing the canal because of the financial crisis during this period. After a few years, The New Panama Canal Corporation took over through a concession agreement with Colombia. Consequently, the United States started portraying a serious interest in constructing an interoceanic canal. As a result, the U.S Senate adopted the proposal to buy the Panama Canal Corporation rights at $40 million . After reaching a concession, the U.S started lobbying for exclusive possession of the canal. Eventually these developments led to the signing of the Panama Canal Treaty. November 6, 1903, the U.S gave Panama an opportunity to be an independent state and on the 18th of November the Hay-Bunau-Varela Accord was signed up. This agreement allowed the United States to get a full access and permanent ownership of the Panama Canal Zone. The accord was negotiated by the proprietor of the Panama Canal Company and the United States Secretary of state John Hay. However, a majority of the Panamanians condemned the treaty terming it as a violation of their new national independence. For instance, in 1905, Panamanians remonstrated against the introduction of the American Customs laws into their country. Despite their opposition, they could not be able to stop the United States from establishing the Canal. The United States offered support to the Panamanians rebels and took a step to destroy the railroad that led to the North terminus of Colon. Thus, the Colombian army became stuck since they could not be able to access the North. Moreover, the advent of the U.S warships in Nashville discouraged the Colombian troops from marching on Panama. Conclusion It is evident that the various developments and key individuals contributed significantly to the signing of the Panama Canal Treaty. The key individuals who played significant efforts in the signing of the treaty were Cromwell and Bunau-Varrilla. They initiated an extensive negotiation which eventually led to the signing of the Hay-Herran Treaty on January 27, 1903. The agreement stated that the U.S would be granted a lease of a 10-kilometer-wide area across the Isthmus of Panama.A lump sum compensation of $10 million was offered and an additional amount of $250,000 per year for the period of lease. ...