Why America Gave Away the Panama Canal for $0

The Panama Canal earns close to $3 billion a year for Panama — so why did America hand it over for $0? In 1903 Panama wasn't even a country. 15 days later it had a treaty with the USA, signed in its name by a Frenchman. 0:00 The $0 giveaway 0:55 The French disaster 2:01 The volcano stamp 3:13 Colombia says no 4:11 A country in 15 days 5:12 Signed by a Frenchman 6:19 Lifting ships over a continent 7:40 Giving it back 9:01 Who won the deal? How a French dream that failed, a postage stamp with a volcano and a treaty signed by a Frenchman gave the United States a 10-mile-wide zone across Panama "in perpetuity" — and why America gave the canal back at noon on December 31, 1999. Sources: U.S. Department of State, Office of the Historian (Building the Panama Canal; Panama Canal Treaties 1977); U.S. National Archives (Hay–Bunau-Varilla Treaty, 1903); U.S. Senate Historical Office (1978 treaty votes); Panama Canal Authority (ACP) annual reports; David McCullough, "The Path Between the Seas"; Smithsonian Institution. Maps: Natural Earth, NASA Blue Marble. Historical borders are approximate. Narration voice is AI-generated; research, scripts and maps by The Price of the Map. #geography #history #maps