Word: canally
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...Baker combined to draft amendments to the treaties containing exactly the language of the "clarification" -then deftly persuaded the Senate Foreign Relations Committee to omit it so that a host of Senators could co-sponsor the amendments and thus claim credit for protecting U.S. interests in the Panama Canal Zone. By week's end, 78 Senators had signed on as cosponsors...
Javits' argument is increasingly accepted. The canal, too narrow for the largest aircraft carriers and supertankers, is no longer the maritime lifeline it once was. On the contrary, it is widely regarded in Latin America as an anachronistic relic of the colonialist era-and an easy target for nationalist violence...
...five minutes. As he spoke, a helicopter settled on the South Lawn of the White House to whisk him and Rosalynn to Camp David for the week end; parts of his remarks were drowned out by the roar of the rotors. He urged the businessmen to support the Panama Canal treaty. Commented Eastern Air Lines Chairman Frank Borman, who would have hoped for more forthright pronouncements on energy: 'Tm all for the treaty." White House encounter sessions may be important in establishing communication between the Administration and business. Some corporate chiefs say that relations have improved lately because Carter...
Panama's controversial canal is not the only thing in that country under water; so, too, is its economy. During the past several years of hot debate and demonstrations over the fate of the canal, moneyed Panamanians and foreign investors have been reluctant to sink cash into the country. They are even less willing to do so now, fearing that Panama could be thrown into turmoil if the U.S. Senate fails to ratify the canal treaties. But if the treaties are adopted, Panamanians believe, investment, and their economy, will surge...
...terms of hard cash, ratified treaties would hardly be a panacea. The canal now contributes, indirectly, some $250 million a year to the economy in the form of wages of Panamanians, local purchases by the U.S. Government, and so forth. Panama gets $2.3 million in an annual payment from the U.S. for the right to run the canal. After ratification, the Torrijos government would get a cut of canal operations. It is counting on $60 million the first year, rising to $90 million annually by the year 2000. That presumes a 30% increase in canal tolls. But tolls have already...