United States territorial acquisitions
The Panama Canal Zone was an unorganized US territory located within the Republic of Panama. It was established under the Hay–Bunau-Varilla Treaty in 1903 and disestablished in 1979 under the Torrijos–Carter Treaties. Panama gained full control over the Panama Canal in 1999.
History of Panama (1977–present)
The second treaty, the Treaty Concerning the Permanent Neutrality and Operation of the Panama Canal, or simply the Neutrality Treaty, was a much shorter document. Because it had no fixed termination date, this treaty was the major source of controversy. Under its provisions, the United States and Panama agreed to guarantee the canal's neutrality "in order that both in time of peace and in time of war it shall remain secure and open to peaceful transit by the vessels of all nations on terms of entire equality". In times of war, however, United States and Panamanian warships were entitled to "expeditious" transit of the canal under the provisions of Article VI. A Protocol was attached to the Neutrality Treaty, and all nations of the world were invited to subscribe to its provisions.