Five years after President Roosevelt had taken Panama from us with rank injustice, your government, still under his chief magistracy, offered us a paltry $2,500,000 if Colombia would recognize the independence of her revolted province, fix our frontier at a further loss of territory, open all our ports free to the refuge of vessels employed in the canal enterprise, and exempt them from anchorage or tonnage dues, renounce our rights to all of our contracts and concessions relating to the construction and operation of the canal or railroad across the isthmus, release Panama from obligation for the payment of any part of our external debt, much of which was incurred in the interest of Panama, and enter into negotiations for the revision of the treaty of 1846, which five years before had been openly violated by the United States in their failure to help maintain the sovereignty over the rebellious province which they had solemnly guaranteed. The reply was to this, banishment of our minister who negotiated the treaty, and all South America applauded our attitude.[263] Mr. Du Bois then proceeded to state at length Colombia's claims which he summarized as follows: "Panama Railroad annuities, $16,000,000; value of railroad, $16,446,942; Panama Canal rights, $17,500,000; cost of Costa Rican boundary arbitration, $200,000; total, $50,446,942. [The total should be $50,146,942.] Besides this sum, Colombia has lost the Province of Panama, whose value cannot be readily estimated."[264] In conclusion he urged the importance of a speedy adjustment of the differences with Colombia in the following words: South America is advancing along commercial lines with giant strides. The character of the future relations of the United States with that country will be of signal importance. Friendly intercourse with all Latin America should be carefully developed and maintained, and especially is this important with Colombia, which borders the isthmus, has fine ports on both oceans, and is destined to become an influential factor in the political and commercial life of South America, especially in all countries bordering on the Caribbean sea. To approach Colombia in a conciliatory spirit and seek a renewal of her ancient friendship would not only be a wise and just move on the part of the United States, but as Colombia and all South and Central America firmly believe that the government of the United States was unjust in the Panama incident, from which has come infinite distress to Colombia, it would be a benevolent and fraternal act, and the time to move is the present, before the canal opens and while the public sentiment of both countries is in harmony with the movement.[265]