USA HISTORY

Detailed explanation-1: -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, the canal was taken over by the Panamanian government in 1999.

Detailed explanation-2: -On November 6, 1903, the United States recognized the Republic of Panama, and on November 18 the Hay-Bunau-Varilla Treaty was signed with Panama, granting America exclusive and permanent possession of the Panama Canal Zone. In exchange, Panama received $10 million and an annuity of $250, 000 beginning nine years later.

Detailed explanation-3: -In 1902, the United States reached an agreement to buy rights to the French canal property and equipment for a sum not to exceed $40 million. The U.S. then began negotiating a Panama treaty with Colombia. The U.S Department of War would direct excavation.

Detailed explanation-4: -In 1903, Panama declared its independence from Colombia in a U.S.-backed revolution and the U.S. and Panama signed the Hay-Bunau-Varilla Treaty, in which the U.S. agreed to pay Panama $10 million for a perpetual lease on land for the canal, plus $250, 000 annually in rent.

Detailed explanation-5: -In 1903, the United States supported a bloodless revolution in the Colombian province of Panama after the Colombian government rejected a U.S. treaty to acquire land in Panama to build the canal.