The Great Enterprise
Bunau-Varilla and John Hay made the treaty better for Americans, asking “all of the privilege, sovereignty, and power for the canal zone…” The Hay-Bunau-Varilla treaty was signed on November, 18, 1903, saying that the U.S have the right to construct in exchange for $10 million and annual payment of $250,000 for 100 years, plus the warranty of Panama’s Independence.
New York Times,(1903)