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Over 56,000 people worked on the canal between 1904 and 1913 and over 5,600 lost their lives. When finished, the canal, which cost the U.S. $375 million to build, was considered a great engineering marvel and represented America's emergence as a world power.
In 1977, responding to nearly 20 years of Panamanian protest, U.S. President Jimmy Carter and Panama's General Omar Torrijos signed two new treaties that replaced the original 1903 agreement and called for a transfer of canal control in 1999. The treaty, narrowly ratified by the U.S. Senate, gave America the ongoing right to defend the canal against any threats to its neutrality. In October 2006, Panamanian voters approved a $5.25 billion plan to double the canal's size by 2015 to better accommodate modern ships.
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Ships pay tolls to use the canal, based on each vessel's size and cargo volume. In May 2006, the Maersk Dellys paid a record toll of $249,165. The smallest-ever toll--36 cents--was paid by Richard Halliburton, who swam the canal in 1928.
Also on This Day
- Lead Story
- Panama Canal turned over to Panama, 1999
- American Revolution
- Patriots are defeated at Quebec, 1775
- Automotive
- Henry Ford publishes the last issue of the Dearborn Independent, 1927
- Civil War
- Confederate General Forrest escapes capture at Parker's Crossroads, 1862
- Cold War
- United States ends official relations with Nationalist China, 1978
- Crime
- Subway vigilante turns himself in, 1984
- Disaster
- Baseball star dies in plane crash, 1972
- General Interest
- Charter granted to the East India Company, 1600
- Patriots defeated at Quebec, 1775
- Edison demonstrates incandescent light, 1879
- Soviets test supersonic airliner, 1968
- Hollywood
- Anthony Hopkins born, 1937
- Literary
- Pete Hamill quits drinking, 1972
- Music
- Rick Nelson dies in a plane crash, 1985
- Old West
- John Denver born in New Mexico, 1943
- Presidential
- Kennedy and Khrushchev exchange holiday greetings, 1961
- Sports
- Plane carrying Roberto Clemente crashes, 1972
- Vietnam War
- Bloodiest year of the war ends, 1968
- U.S. annual casualty figures down, 1971
- U.S. and communist negotiators prepare to return to the Paris talks, 1972
- World War I
- American general and diplomat George C. Marshall is born, 1880
- World War II
- Hungary declares war on Germany, 1944