History of the Panama Canal
During World War II, the canal proved a vital part of the U.S. military strategy, allowing ships to transfer easily between the Atlantic and Pacific. Politically, the Canal remained a territory of the United States until 1977, when the Torrijos–Carter Treaties began the process of transferring territorial control of the Panama Canal Zone to Panama, a process completed on 31 December 1999.
History of the Panama Canal
Theodore Roosevelt believed that a US-controlled canal across Central America was a vital strategic interest of the country. This idea gained wide circulation after the destruction of the USS "Maine" in Cuba on February 15, 1898. Reversing a Walker Commission decision in favor of a Nicaraguan canal, Roosevelt encouraged the acquisition of the French Panama Canal effort. George S. Morison was the only commission member who argued for the Panama location. The purchase of the French-held land for $40 million was authorized by the June 28, 1902 Spooner Act. Since Panama was then part of Colombia, Roosevelt began negotiating with that country to obtain the necessary rights. In early 1903 the Hay–Herrán Treaty was signed by both nations, but the Senate of Colombia failed to ratify the treaty.