Hay-Herran Treaty: Meaning (information, definition, explanation, facts)

In 1903 the United States and Colombia signed the Hay-Herran Treaty. The United States would have acquired a renewable 99 year lease on 6 mile wide strip across Panama for $10,000,000 and an annual payment. Though it was ratified by the United States Senate on March 14 it was not passed by the Colombian Senate.