382


 NOT VOTING-4
Abourezk Hatfield, Paul G. Johnston Domenici
 So the motion to lay on the table was agreed to.
 Amendment No. 78 (Schmitt), March 14, 1978 (Congressional Record, S 3626-30) -Tabled 65-30.
 Sutmmary.-In the nature of a substitute for the Neutrality Treaty, established an inter-American regional organization called Intersea to operate and maintain the Canal. The amendment described the organizational structure and international status of this managing body, and set forth principles for the financial operation and defense of the Canal.
Text."PIEAMBLE
 "Recognizing that the interconnection of the Atlantic Ocean with the Pacific Ocean through Central Anmerica is of great benefit to the nations of the world and particularly to the nations of the Americas therefore making such interconnection highly desirable.
 "Acknowledging that the natural geographic configuration of Central America which permits, via technology, creation of waterways which interconnect the Atlantic Ocean and the Pacific Ocean, is part of the common heritage of the Americas.
 "Satisfied that this common heritage principle necessitates the keeping of any and all such H-emispheric Water-ways neutral and open f or use.
 "Noting that there presently exists one such Hemispheric Waterway in the Americas which has been operated, since its official and formal opening on July 12, 1920, as a neutral open and eff ective public service for the nations of the world.
 "Desiring to insure continuance of the operation of this Hemispheric Waterway as a neutral, open and eff ective public service for the nations of the world as well as providing for its security and continual upgrading of its facilities and structures.
 "Acknowledging that this Hemispheric Waterway and the adjacent zone of land, being physically located within the Republic of Panama, has heretofore been under the use, occupation and control of the United States of America and that the United States had all the rights, power and authority within the zone which it would have possessed and exercised if it were the sovereign to the entire exclusion of the exercise by the Republic of Panama of any such sovereign rights, power or authority.
 "Believing that use, occupation and control of this Hemispheric Waterway should vest in an organization whose membership is composed of the nations of the Americas and that this organization should assume the rights, power and authority from the United States which is necessary and proper to effectuate the principles set forth herein,
 "The United States of America, the Republic of Panama, and other interested nations of the Americas agree as follows: