Balboa is one of the people who found tons of gold and sent it back to Spain, but saved a lot for himself. With his earnings he decided to Balboa decided to settle in Hispaniola as a planter. But …show more content…
However in 1848 they couldn’t pay for it and lost their rights regarding the railroad. In 1848 the California gold rush occurred. This alone caused heavy traffic across the Isthmus of Panama. Later that year in December, U.S Company, the Panama railroad company negotiated a new contract with Bogota, Colombia to build the railroad across the Isthmus in 6 years. Part of the contract said that the trip would be guaranteed in less than 12 hours. The railroad was built and completed the journey in 4 ½ hours. But Matthew Fontaine Maury, leading U.S. government scientist wrote to congress that the railroad Isthmus of Panama will lead to the construction of a ship canal between the two oceans, for a railroad can’t do the business which commerce will require …show more content…
Ferdinand de Lesseps, who supervised the Suez Canal, was interested in building the Panama Canal. He joined several French businessmen to form a private company with an impressive name: the Societe Civile Internationale du Canal Interuceanique du Darien. The societe sent Lucien Napoleon- Bon parte Wyse, grandnephew of the 1st French emperor, Napoleon Bon parte to Panama in early November 1876, to survey the site for a canal and, more important, to secure the permission of Colombia for such a project. Colombian government and Wyse had an agreement. That for an initial payment of nearly $200,000 as well as yearly rental fee, societe was granted permission to build and administer a canal for 99 year lease. Colombia gave societe a belt of land 200 meter wide across the entire width of Panama. However at the end of 99 years the canal and land would be returned to Colombia. In 1873 U.S. had conducted surveys of a potential route across Panama, but had rejected it. Wyes never did surveys, and decided to use the notes of U.S. surveys instead. After that he left Panama for home to report to