Show treaty protects the 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 of the canal zone and has exclusive control of it according to the terms of the hay fort treaty of 1901 which prepared the way for its construction the canal shall be free and open to the vessels of commerce and of war of all nations observing ser serving vilf these rules on terms of entire equality the treaty stipulates that a belligerents war vessels may have transit through the canal with the least possible delay and without taking on stores or troops panama has no right to take possession of the cinal and is not likely to undertake to gain it il by force |