AMERICAN IMPERIALISM 1890 1919
THE SPANISH AMERICAN WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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10 million
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40 million
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250 million
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120 million
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Detailed explanation-1: -Direct construction costs, however, were not the only costs of the canal. The U.S. also spent $40 million to purchase the assets of the New Panama Canal Company and $10 million for the Panamanian government. In addition, the U.S. incurred an implicit interest cost over the construction decade.
Detailed explanation-2: -In his new role, Bunau-Varilla negotiated the Hay-Bunau-Varilla Treaty of 1903, which provided the United States with a 10-mile wide strip of land for the canal, a one-time $10 million payment to Panama, and an annual annuity of $250, 000. The United States also agreed to guarantee the independence of Panama.
Detailed explanation-3: -A payment of $10 million secured a canal zone and rights to build. Bunau-Varilla, installed as Panamanian minister to the U.S., signed a treaty favorable to American interests.
Detailed explanation-4: -Nearly three billion U.S. dollars was the toll revenue generated by the Panama Canal during the fiscal year 2021 (ranging from October 2020 to September 2021).