Fact Check: Did the US Sell The Panama Canal For One Dollar?

<h1>Deaths from malaria?</h1> <p>The US was not the only country to attempt the canal. Between France and the US,&nbsp;<a href="https://www.history.com/news/panama-canal-construction-dangers" rel="noopener ugc nofollow" target="_blank">tens of thousands died</a>&nbsp;from&nbsp;<a href="https://historyincharts.com/the-history-of-the-panama-canal-railroad/" rel="noopener ugc nofollow" target="_blank">malaria during construction</a>&nbsp;of the Panama Canal.</p> <h1>Sold for $1?</h1> <p>Sadly, most articles regarding the Panama Canal / Torrijos &mdash; Carter Treaties make no mention of the transaction price and the full text is not readily available.</p> <p>However, it actually appears far worse than Trump described. Instead, it appears the US paid Panama in addition to gifting the canal:</p> <blockquote> <p>To promote Panama&rsquo;s economic development, the U.S. contribution will be stepped up through a program of loans, loan guarantees, and credits totaling approximately $295 million over the next five years. These financial arrangements will involve no grants and no gifts from the United States; they will all be repaid by Panama with interest. Because of &ldquo;Buy American&rdquo; provisions, this economic cooperation package will bring substantial benefits to U.S. business and labor. In addition, to assist Panama to develop a capability for canal defense, the United States will make available military credits totaling $50 million over a 10-year period. While the package developed out of the treaty negotiations, it lies outside the treaties and imposes no treaty obligations on the United States.</p> <p>&mdash;&nbsp;<a href="https://www.govinfo.gov/content/pkg/GOVPUB-S-07772010a1f6adf5f301be809ea33cbe/pdf/GOVPUB-S-07772010a1f6adf5f301be809ea33cbe.pdf" rel="noopener ugc nofollow" target="_blank">Panama Canal &mdash; New Treaties &mdash; US Department of State Nov 1977</a></p> </blockquote> <p>and</p> <blockquote> <p>the U.S. has also promised Panama $345 million in various types of loans and aid over a 10 year period. The U.S. negotiators have assured Congress that the treaties will not result in a cost to the taxpayers. That will be the hat trick of the year.</p> <p>[&hellip;] it should be noted [&hellip;] according to the State Department figures, the [1977] replacement costs of Canal facilities would be $9.818 billion.</p> </blockquote> <p><a href="https://jsknox.medium.com/fact-check-did-the-us-sell-the-panama-canal-for-one-dollar-e398a5950a7b"><strong>Click Here</strong></a></p>