Panama Canal 1880 dated Stock Certificate - Canal Interoceanique de Panama - French & Panamanian
Inv# GS1201 Stock
Panama
General Stock with border vignette of native figures with steamships in the background & Panama Canal scene. Great! Long before the Panama Canal was realized, there existed aspirations to construct a canal traversing Central America. In the early 1500s, the explorer Vasco Nunez de Balboa recognized the potential for a waterway linking the Atlantic and Pacific Oceans. In 1878, the French adventurer Lucien Napoleon Bonaparte Wyse obtained a concession from Colombia, which authorized him to build a canal through the province of Panama. He subsequently transferred this concession to a French enterprise known as the "Compagnie Universelle Du Canal Interoceanique De Panama."
The excavation commenced in 1882, initially intended to be a sea-level canal; however, plans were revised to create a design akin to the current structure. The project was meticulously planned, although the execution faced significant challenges, including the impact of tropical diseases on the workforce. A major factor contributing to the French endeavor's failure was the corruption of politicians who embezzled substantial amounts from the company. By 1889, the Compagnie Universelle declared bankruptcy.
In May 1904, the United States assumed control of the French concession, leading to the canal's completion in 1914. The Panama Canal is an artificial waterway measuring 82 km (51 mi) in length, situated in Panama, which connects the Atlantic Ocean to the Pacific Ocean. This canal traverses the Isthmus of Panama and serves as a vital artery for maritime commerce. As one of the most significant and challenging engineering feats ever undertaken, the Panama Canal significantly shortens the travel time for vessels navigating between the Atlantic and Pacific Oceans, allowing them to bypass the perilous and lengthy route around Cape Horn at the southern tip of South America, as well as the less frequented paths through the Arctic Archipelago and the Bering Strait.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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