
The Gilded Age and Progressivism
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of Panama at that time, but the Columbian Senate rejected a
U.S. deal to construct a canal. Not to be outdone, Roosevelt
soon intervened, relying on a French engineer and agent for
the New Panama Canal Company, Philippe Bunau-Varilla.
THe Panama Canal By nUmBers
When the Panama Canal opened
for business in 1914 it signaled the
completion of one of the greatest
construction projects in history.
For starters, 262 million cubic yds
(200 cu m) of earth and rock were
removed in constructing the canal.
The cost of the project was $352
million—a staggering sum in its day.
Add in the money spent by a French
canal company before the Americans
arrived, and the bill comes in at
approximately $639 million.
But the cost of building the canal
can be calculated in a different
way—the cost in lives. According to
U.S. records, which begin in 1904,
5,609 workers died from disease
and accidents. Again, add the
number of French lives lost, and the
number swells to nearly 25,000. This
represents about one worker lost for
every 10 ft (3 m) that the building
work progressed across the Canal
Zone.
But there are other signifi cant
statistics. The Panama Canal was
completed ahead of schedule by
six months, despite constant delays
caused by landslides. The project,
despite its high price tag, was
completed under budget, by about
$23 million. The U.S. effort was
completed without scandal, bribes,
kickbacks, or corruption, and no
company was ever accused of having
made excessive profi ts.
Traffi c passing through the canal
was light during the years of World
War I, averaging about 2,000 ships
annually. But within 10 years of
opening, about 5,000 ships were
being taken through the canal each
year. Since 1960 the Panama Canal
has handled from 12,000 to 15,000
ships annually, As many as 50 ships
transit the canal each day, and traffi c
passes through 24 hours a day. The
length of the average transit is about
eight hours.
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