Today in Latin American History
US Ratified the Failed Treaty Granting Rights to Build Panama Canal in 1903
Photo: Panama Canal
Today in Latin American history, the Hay-Herran Treaty, granting the United States the right to build the Panama Canal, was ratified by the United States Senate in 1903.
Unfortunately, the was not ratified by the Senate of Colombia thus it did not go into effect.
The treaty would have allowed the United States a lease that was to remain in force in perpetuity on a six-mile wide strip across the isthmus of Panama (then part of Colombia) for $10 million and an annual payment of $250,000, both payments being in gold coin.
Other events that occurred on this day: