The report of the Panama Canal Committee of the Colombian Senate on October 14, 1903, on the proposed treaty with the United States, proposed that all consideration of the matter should be postponed until October 31, 1904, when the next Colombian Congress would have convened, because by that time the new Congress would be in condition to determine whether through lapse of time the French company had not forfeited its property and rights.

"When that time arrives," the report significantly declared, "the Republic, without any impediment, will be able to contract and will be in more clear, more definite and more advantageous possession, both legally and materially." The naked meaning of this was that Colombia proposed to wait a year, and then enforce a forfeiture of the rights and property of the French Panama Company, so as to secure the forty million dollars our Government had authorized as payment to this company.

If we had sat supine, this would doubtless have meant that France would have interfered to protect the company, and we should then have had on the Isthmus, not the company, but France; and the gravest international complications might have ensued.

Every consideration of international morality and expediency, of duty to the Panama people, and of satisfaction of our own national interests and honor, bade us take immediate action.

I recognized Panama forthwith on behalf of the United States, and practically all the countries of the world immediately followed suit.