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| 1. | Introductory | 3 |
| 2. | History of the Canal Projects | 7 |
| 3. | The Clayton-Bulwer Treaty of 1850 | 12 |
| 4. | Proposals to Modify the Clayton-Bulwer Treaty | 21 |
| 5. | The Hay-Pauncefote Treaty of 1901 | 23 |
| 6. | Acquisition of the Canal Territory by the United States | 29 |
| 7. | The Tolls to be Imposed | 31 |
| 8. | Diplomatic Discussion | 36 |
| 9. | Conclusion | 38 |
APPENDIX | ||
| A. | Clayton-Bulwer Treaty of 1850 | 39 |
| B. | Hay-Pauncefote Treaty of 1901 | 44 |
| C. | Treaty between United States and Panama (Hay-Varilla Treaty), 1903.Extract | 47 |
| D. | Panama Canal Act, 1912.Extracts | 47 |
