In 1903 the Colombian Minister at Washington negotiated with Senator Hay a treaty which by a lucky chance failed of ratification in the Panama Senate. It never reached our Senate, but it is quite incredible that it could have succeeded there, for it had several features that would have led to endless disagreement between the two countries--might indeed have resulted in the United States annexing Colombia altogether. For example the Canal Zone was to be governed by a joint commission of the two countries--Colombia remaining sovereign over the territory. The United States was to explicitly guarantee the sovereignty of Colombia against all the world. Colombia was to police the Zone. Each of these sections was big with possibilities of trouble. That Colombia did not speedily ratify this treaty would be inexplicable, for it was all to the Colombian good, except for the fact that by delaying any action for seven years the French property along the line of the canal, valued at $40,000,000, would drop into the Colombian treasury. [Illustration: IN THE BANANA COUNTRY, ON THE COAST NEAR BOCAS DEL TORO] Delay, however, while good enough for the Colombians, did not suit the Panamanians, nor did it please Theodore Roosevelt, whom Providence, while richly endowing him otherwise, had not invested with patience in the face of opposition. The Panamanians, by whom for the purposes of this narrative I mean chiefly the residents of Colon and the city of Panama, wanted to see some American money spent in their various marts of trade. The French were rapidly disappearing. The business of all their commercial institutions from dry goods stores down to saloons was falling off. Even the lottery did not thrive as of yore and the proprietors of the lesser games of chance, that in those days were run quite openly, were reduced to the precarious business of robbing each other. All these and other vested interests called for immediate negotiation of any sort of a treaty which would open the spigots of Uncle Sam’s kegs of cash over the two thirsty Isthmian towns. It was irksome too to think that the parent state of Colombia would make the treaty and handle the cash accruing under it. The Yankees were ready to pay $10,000,000 down, and it was believed a further rental of $250,000 for the right to build a canal every foot of which would be on the territory of the Province of Panama. If Panama was a sovereign state instead of merely a province, all this money would be used for the benefit of but 400,000 people, including Indians and negroes, who of course could not be expected to have much to say about its use. If employed in public works, it would only have to spread over about 32,000 square miles, or a territory a little smaller than Indiana. But of course it would chiefly go to the two cities. On the other hand if Colombia made this treaty the capital city Bogotá would get the lion’s share of the spoil, and for that matter all the provinces would share in