On 23 February 1904, the United States formally acquired control of the Panama Canal Zone, marking a pivotal moment in global maritime history.
For a sum of $10 million, as stipulated in the Hay-Bunau-Varilla Treaty, the US gained sovereignty over a ten-mile-wide strip of land, enabling the construction of a canal that would revolutionise trade by linking the Atlantic and Pacific Oceans.
This acquisition not only underscored America’s rising geopolitical influence but also ignited tensions over sovereignty and interventionism, particularly with Panama and Latin American nations wary of US expansionism. Despite the ensuing controversies, the canal would ultimately become a vital artery for global commerce, affirming its strategic and economic significance for the decades to come.
