Though that sounds like it was uttered in 1877, it was actually spoken in 1977, not even 30 years ago.  Even after the treaties were signed that year, foreigner-hating Americans continued to question Panama's readiness.  So, were they right?  How have things gone since the handover?  According to Oppenheimer:

• The Panama Canal's income has soared from $769 million in 2000, the first year under Panamanian control, to $1.4 billion in 2006, according to Panama Canal Authority figures.

• Traffic through the canal went up from 230 million tons in 2000 to nearly 300 million tons in 2006;

• The number of accidents has gone down from an average of 28 per year in the late '90s to 12 accidents in 2005;

• The average transit time through the canal is averaging about 30 hours, about the same as in the late '90s;

• Canal expenses have increased much less than revenues over the past six years -- from $427 million in 2000 to $497 million in 2006.

Oppenheimer rightfully suggests hat we should remember this lesson in considering the Immigration Question today.  Should we put up a (laughable and tragically impractical) fence, as a bill signed President Bush yesterday calls for?  Or should we instead realize that further integration with our neighbors to the south will only lead to greater prosperity for all?

As I have said repeatedly on this blog, we as global citizens need to understand what true free trade is and that it can only bring us closer together as a planet.  True free trade is not high steel tariffs.  True free trade is not radically restrictive and reactionary immigration policies and ill-thought fences.  It is a formalized understanding between many peoples that says:

• If you need work, you may seek it where it is available, and you may compete for it on an equal playing field and be paid for it appropriately.  The xenophobic hatred of some people should not prevent this.
• If you have money, you may invest it as you please, receiving no greater benefits than any other investor in the economy and fully in accordance with the law.  Yesterday's protectionist backwards thinking be damned.

Eventually, as the many national economies begin to harmonize more into a truly unrestricted international market, these hate-filled rants against immigrants will be exposed for what they truly are.  The fences will be torn down.  Everyone will be better off.