President Theodore Roosevelt oversaw the realization of a long-term objective of the United States: a transistor channel. During the 1800s, American and British leaders and businessmen wanted to ship goods quickly and cheaply between the Atlantic and Pacific coasts. In addition, the economic impact was enormous. Now trade between the two oceans can be united. From the 1890s until World War I, world trade was as important as it is now, so it was important to have a cross-continent travel route.
That's why Wall Street was very supportive and helped finance it. The Panama Canal officially opened on August 15, 1914, although the planned grand ceremony was curtailed due to the outbreak of the First World War. However, the United States reserved the right to use military force, if necessary, to keep the channel open; that was, in part, the raison d'être of the U.When a treaty proposal on the right to build in what was then Colombian territory was rejected, the United States had landed troops in Panama six times before 1903, with permission from Colombia, to protect the transit area from the rebels. The debate revolved around exactly where to build it in the Central American isthmus, how to pay for it and who would control it.
The Panama Canal was an integral part of the expansion of U.S. global power at the dawn of the 20th century. On November 6, 1903, the United States recognized the Republic of Panama and on November 18, the Hay-Bunau-Varilla Treaty with Panama was signed, granting the United States exclusive and permanent possession of the Panama Canal Zone. Despite all these challenges, the canal opened to traffic on August 15, 1914, more than three decades after the start of the first attempt to build the canal. But where to build it? Nicaragua or Panama? The two bankrupt private companies started a bidding war over the oxidation and abandonment of their equipment and access routes.
When treaty negotiations with Colombia failed, Panama, with the implicit support of the United States, declared independence and was recognized by the United States in November 1903. Both Roosevelt and Hay were aware of these plans for rebellion; Hay said privately that the United States should intercede to protect the transit area should a rebellion or civil war break out. This eased many tensions not only in Panama but throughout Latin America, since it had been the example of American colonialism in Latin America. The Panama Canal was first developed after the failure of a French construction team in the 1880s, when the United States began building a canal along a 50-mile stretch of the narrow Isthmus of Panama in 1904. Compared to the proposed Nicaraguan canal, Panama emerged as the principal location of the canal. Private interests linked to the former French channel company now turned to both private Americans and the Roosevelt administration to support Panama's secession from Colombia, which was quickly followed by the signing of a canal treaty.
