Show U S does not own land used for panama canal strictly speaking the united states does not own the territory through which the panama canal runs says a writer in the indianapolis news its tenure might be described as a perpetual lease gy by the treaty signed at washington november 18 1003 panama granted to the united states iii in perpetuity the use occupation and control of a zone of land ten miles in width for the construction maintenance and operation of a canal panama further granted to the united states all the rights power and authority within the zone which the united states would possess and exercise if it were the sovereign of the territory to the entire exclusion of the exercise by the republic of panama of any such inch sovereign rights power and authority As the price or compensation for the rights power and privileges granted the united states agreed to pay panama the sum of in gold coin and also an annual payment during the life of the treaty of 0 in gold coin beginning nine years after tile the exchange of the ratification of the treaty the united states could not legally transfer Its rights in the canal zone to another nation without panamas pajamas Pa con consent conbene bent under this agreement |