Spooner Act

The First Spooner Act of 1902 (aka Panama Canal Act, 32 Stat. 481 [1] ) was written by Wisconsin senator John Coit Spooner, enacted on June 28, 1902, and signed by President Roosevelt the following day. It authorized purchasing the assets of a French syndicate called the Compagnie Nouvelle du Canal de Panama, provided that a treaty could be negotiated with the Republic of Colombia.

The syndicate, headed by Philippe-Jean Bunau-Varilla, sold at a price reduced from $110 million to only $40 million. US lawyer William Nelson Cromwell subsequently got a $800,000 commission for his lobbying. [2] [3] [4]

The Spooner Act is followed by the Hay–Bunau-Varilla Treaty of Nov. 18, 1903.

See also

References

  1. "Records of the Panama Canal". US National Archives. Retrieved 12 January 2014.
  2. "Panama Canal Act [1902]". History Central. Retrieved 12 January 2014.
  3. "AMERICAN CANAL CONSTRUCTION". Panama Canal Authority. Retrieved 12 January 2014.
  4. Kinzer, Stephen (2007). "3. From a Whorehouse to a White House". Overthrow: America's Century of Regime Change from Hawaii to Iraq. pp. 56–62.

External links

This article is issued from Wikipedia - version of the 1/3/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.