The did America have to gainWhat Panama Canal from the Panama Canal?
1. Describe the process by which America acquired the land rights to the Panama Canal zone.2. What did America have to gain from the Panama Canal? Consider the economic, political, scientific, and cultural aspects of this question as they apply both to the U.S. and to the world.
"Panama Canal Profits", New York Times, November 16,1920 The Canal Record reports that last year the operating expenses of the Panama Canal were $6,548,272, and the receipts were $8,935,871, "leaving a profit of $2,387,599. [$26,031,514 -2010]" Since the opening of the canal the cost of operation has been $36,657,766, and the revenues $34,657,766. It is agreeable to know that the canals last year was its best, and it may confidently be expected that the commerce of peace through the Isthmus route will surpass that of war. The canals best years are before it, and it was not built for the sake of profit. It would justify its existence even if it did no more than double the efficiency of our fleet.Time Lapse Voyage“Panama Canal Profits” New York Times, 1920
1970sThe Panama Canal is used extensively for the transport of material and troops during theVietnam War.On average, over 15,000 ships a year use the canal.1974Tolls are raised for the first time from 90 cents to $1.08 per cargo ton.The following year, the passenger ship Queen Elizabeth II will pay a record toll of$42,077.88.1999The U.S. hands over sovereignty of the Panama Canal to Panama.2007Under the 2007 construction plan, the Panama Canal Authority is planning to double thecapacity of the canal.The project is slated to create up to 45,000 new jobs, increasing employment on the canalby 10-15%. When construction is completed in 2014, the Panama Canal will be capable ofhandling up to 600 million tons of cargo per year and seven additional lockages each day.By 2025, the Panama Canal is projected to earn more than $6 billion annually.Canal Expansion
Review the readings. Respond to the prompts. Work in groups.Write a 5-8 sentence history of the Panama Canal 1. The Panama Revolution. Describe the process by which America acquired the land rights to the Panama Canal zone. Why was the American public "confused and very divided" upon learning of the revolution in Panama? List arguments for and against. 2. The path to Americas future. What did America have to gain from the Panama Canal? Consider the economic, political, scientific, and cultural aspects of this question as they apply both to the U.S. and to the world. In what ways did President Theodore Roosevelt see the canal as "the obvious path to Americas future"? What is your assessment of Roosevelts interest in the canal? Was he inspired? Arrogant? Visionary? Imperialist? Explain.Key Terms:Theodore Roosevelt Charles de LessupsJohn Hay Hay-Bunau-Varilla TreatyColombia Monroe Doctrine