Show hay treaty protects the llie panama canal the panama canal was built by the U S and is owned and controlled by this country both american and foreign vessels using it pay tolls for the privilege the united states by treaty with the republic of panama has a perpetual lease ol of the canal zone and has excle exclusive s v control of it according to th the terms of the hay treaty of 1901 which prepared the way for or its ita construction the canal shall be free and open to the vessels of commerce and of war of all nations ob serving these rules on terms of entire equality the treaty lates that a belligerents war ves sels may have transit through the canal with the least possible delay an and d w without phout taking on stores oi 01 troops panama has no right to take possession of the canal and ia i I 1 not likely to undertake to gain it b force |