Panama Canal
Colombia, France, and later the United States controlled the territory surrounding the canal during construction. The US continued to control the canal and surrounding Panama Canal Zone until the 1977 Torrijos–Carter Treaties provided for handover to Panama. After a period of joint American–Panamanian control, in 1999, the canal was taken over by the Panamanian government. It is now managed and operated by the government-owned Panama Canal Authority.
Presidency of Theodore Roosevelt
Secretary of State Hay and French diplomat Philippe-Jean Bunau-Varilla, who represented the Panamanian government, quickly negotiated the Hay–Bunau-Varilla Treaty. Signed on November 18, 1903, it established the Panama Canal Zone—over which the United States would exercise sovereignty—and insured the construction of an Atlantic to Pacific ship canal across the Isthmus of Panama. Panama sold the Canal Zone (consisting of the Panama Canal and an area generally extending on each side of the centerline) to the United States for $10 million and a steadily increasing yearly sum. In February 1904, Roosevelt won Senate ratification of the treaty in a 66-to-14 vote. The Isthmian Canal Commission, supervised by Secretary of War Taft, was established to govern the zone and oversee the construction of the canal. Roosevelt appointed George Whitefield Davis as the first governor of the Panama Canal Zone and John Findley Wallace as the Chief Engineer of the canal project. When Wallace resigned in 1905, Roosevelt appointed John Frank Stevens, who built a railroad in the canal zone and initiated the construction of a lock canal. Stevens was replaced in 1907 by George Washington Goethals, who saw construction through to its completion. Roosevelt traveled to Panama in November 1906 to inspect progress on the canal, becoming the first sitting president to travel outside of the United States.