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Why Did The Us Build The Panama Canal

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The Panama Canal was needed for the United States and the European explorers. This canal went through the Atlantic and Pacific Ocean. This canal will help a lot with ships because of distance they wouldn 't have to go through southern peninsula of South America.
The United States wanted to also to build a canal. Maritime Canal Company told the US they could build a canal in Panama or Nicaragua, which the US choose Nicaragua. Building all the way through 1893 until construction shut down because the Company shut down due to funding funding. The United States did not loose hope they wanted a canal so they were going to get it. While the United States were having problems the French were having there own conflicts with the Panama Canal. French were having problems with the excavating the dirt for the canal also suffering financial setbacks. When all this happened the French gave up and a second company to take over the company called Compagnie Nouvelle du Canal de Panama. In order to recover some of the money that was invested in the canal project, the French began …show more content…

The United States was still very interested in building the canal in Nicaragua because is was less money the United States had to spend. The French decided to drop there prices from $100 million to $40 million for the Panama Canal, which was the same price for the Nicaragua Canal. The United States had taken the deal so they had to pay Colombian government. The US had to pay because of the The terms of this treaty included the United States giving the Colombian government $10 million initially plus $250,000 annually for the duration of a 100-year lease of a six mile wide strip of land on either side of the canal.2 The Colombian government has refused the deal, which President Roosevelt had thought what was going to

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