Treaty With Panama -- Hay-Bunau-Varilla. Message From the President of the United States, Transmitting a Convention Between the United States and the Republic of Panama for the Construction of a Ship Canal to Connect the Waters of the Atlantic and Pacific Oceans, Signed November 18, 1903Treaty With Panama -- Hay-Bunau-Varilla. Message From the President of the United States, Transmitting a Convention Between the United States and the Republic of Panama for the Construction of a Ship Canal to Connect the Waters of the Atlantic and Pacific Oceans, Signed November 18, 1903