On this day, December the 31st, in the year of 1999, the control of the Panama Canal, the main way of oceanic travel between the Atlantic and Pacific Oceans, was given to Panama from America control.

The United States gained control of the land to be used for the canal in 1903 after they helped Panama gain independence from Colombia when they rejected a plan regarding the canal.

Officially opening in 1914, the Panama Canal revolutionized world trade, being a significantly faster route between the two oceans than the Strait of Magellan (the previous fastest route), shaping world trade to what it is to today, further helping America become a power on the world stage. 

However, as time went on, the canal was seen as a holdout of American colonialism and as a hamper of American/Panamanian relations. To combat this, in 1977, then President Jimmy Carter signed a treaty with Panama which gave Panama the canal in 1999.

Today, the canal is a vital part of Panamas and still the American economy, though, with the onset of man-made climate change, a new path between the oceans is thawing out in the Arctic Ocean, known as the Northwest Passage, which one day may rival and overtake the Panama Canal (Los Angeles Times) (History) (History) (Geology.com) (BBC).

To read more daily facts and tidbits, travel between the Atlantic and Pacific Oceans, and President Jimmy Carter, see the Barron Perspectives “On this Day Archives” webpage and such articles as “On This Day – October 21st (Ferdinand Magellan)” and “On This Day – November 2nd (Jimmy Carter)”.