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 1903. Three days after the Hay-Herran Treaty was signed concluding a deal over a canal route, Herran received delayed instructions not to sign the treaty.
 Hay threatened a break off in relations if the treaty was not ratified by Colombia; privately President Roosevelt indicated his awareness of the Panamanians' readiness to declare its independence. News reports to this effect were released by the press.
 Hay made it clear to Panama that the $40 million set up by the Congress to secure a route would go to the French Company, headed by IBunau-Varilla, and only the $10 million in the treaty would gro to Colombia.
 August 12, 1903, Colombia rejected the treaty.
 Efforts at fostering a revolution in Panama were begun by BunanVarilla and William Cromwell, a lawyer with interests in the Canal Company.
 Cromwell tried to get a Panamanian to give $100,000 for a revolution, guaranteeing him the presidency of the new country-this was before Colombia had rejected the Hay-Herran Treaty. Bunan-Varilla met with Panamanian revolutionaries and encouraged their activities throughout September of 1903; in October he promised a complete package for the Panamanians-money, a constitution, a military plan.
 On October 15, U.S. ships were ordered to sail on a routine exercise toward the isthmus. On October 16, Bunau-Varilla was made aware of this fact.
 IBunau-Varilla secured a promise that, for his assistance, hie would be appointed Panama's first minister to the United States. He called for a revolution on November 3, the day he calculated the U.S. squadron would appear off the coast of Panama.
 On November 2, a U.S. ship, the Nashville arrived and the revolution commenced; orders were on board the Nashville to insure that the line of transit across the isthmus was kept. open even against government-Colombian-troops. On November 3, the revolution was essenially completed. The only clear legal rule against which the U-.S. action would be judged was the 1846 Bidlack Treaty which provided that the United States would insure Colombia's sovereigYnty over the Isthmus of Panama.
 On November 6, the United States recognized the independence of Panama.
 Ne gotiations began which led to the Hav-IBunau-Varilla Treaty. Banna-Varilla exerted the same pressure and threats against 1I anamna as Secretary Hay had against Colombi a.
 Bunan-Varilla negotiated treaty and signed it; Panamanians were outraged; Federico Boyd, one of the negootiators who arrived too late, strutck Bunaii-Varilla, across the f ace at Union Station.
 Bunau-Varilla on his own sent a cable to Panama stating that if Panama did not ratify the treaty, the United States would withdraw its protection and sign a canal treaty with Colombia.
 The terms of the treaty negotiated and signed on November 18 have been reviewed many times here in the Senate., but I believe they were best summarized by Senator Money, of Mississippi, when in 1904 hie claimed that. the treaty: