Hay–Herrán Treaty

The Hay–Herrán Treaty was a treaty signed on January 22, 1903 between United States Secretary of State John M. Hay of the United States and Tomás Herrán of Colombia. Had it been ratified, it would have allowed the United States a lease that was to remain in force in perpetuity on a six-mile-wide strip across the isthmus of Panama (then part of Colombia) for $10 million and an annual payment of $250,000, both payments being in gold coin. It was ratified by the United States Senate on March 14, but it was not ratified by the Senate of Colombia, so it had no effect.