What did the Hay-Herrán Treaty stipulate?
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The treaty stipulated that the New Panama Canal Company, which held an option on the canal route, might sell its properties to the United States; that Colombia lease a strip of land across the Isthmus of Panama to the United States for construction of a canal; and that the United States pay Colombia $10 million and, after nine years, an annuity of $250,000 ...
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