What was the Hay-Pauncefote Treaty?

The Hay-Pauncefote Treaty, signed in 1901 between the United States and the United Kingdom, aimed to facilitate the construction of a canal across Central America, specifically through Panama. It granted the U.S. the right to build and control the canal while ensuring that it would be open to ships of all nations. The treaty replaced an earlier agreement that had required British approval for any canal project, reflecting the U.S. interest in expanding its influence in the region. Ultimately, it set the stage for the construction of the Panama Canal.