The United States, not unmindful of the advantages of an Isthmian Canal, had from time to time, made surveys of the various routes. With a view to government ownership and control, Congress directed an investigation, with the result that the Commission reported, on November 16, 1901, in favor of Panama and recommended the lock type of canal, appraising the value of the rights, franchises, concessions, lands, unfinished work, plans and other property, including the railroad of the new Panama Canal Company, at $40,000,000. An act of Congress, approved June 28, 1902, authorized the President of the United States to acquire this property at this figure, and also to secure from the Republic of Colombia perpetual control of a strip of land not less than six miles wide across the Isthmus and the right to excavate, construct and operate and protect thereon a canal of such depth and capacity as would afford convenient passage to the largest ships now in use or which might be reasonably anticipated.
Later on a treaty was made with the Republic of Panama whereby the United States was granted control of a ten-mile strip constituting the Canal Zone. This was ratified by the Republic of Panama on December 2, 1903, and by the United States on February 23, 1904. On May 4, 1904, work was begun under United States control.
[Illustration: UNCLE SAM’S BIG WORK AT PANAMA
A bird’s-eye view of the great canal, showing how the Atlantic and Pacific Oceans are here joined.]
[Illustration: _Courtesy of The Ingersoll Rand Company._
These powerful steam drills are capable of sinking holes in the solid rock at the rate of seven feet per hour.]
The opening of the canal has greatly increased the effectiveness of the Navy of the United States. It has reduced the distance between the central points of the Atlantic and Pacific coasts from 13,000 to 5,000 miles and greatly reduced the problem of coaling on a cruise from coast to coast. It has made possible the concentration of a fleet at either entrance of the canal which, with a cruising speed of fifteen knots, could reach the center of the Pacific coast in nine days and the center of the Atlantic coast in five days.
Where, formerly, the fleets stationed opposite the middle of each coast were, from a cruising point of view, as far apart as opposite sides of the world, they are now as near as if one were off New York and the other off Buenos Aires.