Hay-Pauncefote Treaty

Agreement between the UK and the USA concerning the construction and control of the planned Panama Canal. It provided for the construction of a canal under US control, to be open to all countries on the same basis as the Suez Canal. The treaty was negotiated by John Hay on the part of the USA and Lord Pauncefote on behalf of Britain, and replaced the Clayton-Bulwer Treaty of 1850 (see John M Clayton).

When submitted to the US Senate 1901 it was ratified, but with such amendments that Britain refused to ratify it. A further treaty was negotiated 1901 and passed by Senate. It demanded no guarantee of neutrality, although the general principle of neutrality of the Clayton-Bulwer Treaty was retained, and in time of war the USA was given certain rights of control not definitely specified.