The Panama Canal, often heralded as one of the wonders of the modern world, is far more than a feat of engineering -- it is a cornerstone of U.S. national security and economic prosperity. This vital maritime shortcut has connected the Atlantic and Pacific Oceans for over a century,

The canal was turned over to Panama on Dec. 31, 1999. For Carter, the deal signified a new beginning of mutual respect and cooperation between the U.S. and Latin America, as he said in his speech in 1978. It also showed “the last remnant of alleged American colonialism is being removed” during a time when the world moved away from imperialism.