On This Day August 15

Panama achieved full independence from Colombia in November 1903 with US support. At the same time the USA bought the rights to build the Panama Canal. The U.S. formally took control of the canal property the following year. The Panama Canal opened to traffic  a decade later on August 15, 1914. The United States spent almost $375,000,000 (roughly equivalent to $8,600,000,000 today) on building the Panama project. This was by far the largest American engineering project to date.

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