The rise and fall of a speculative bubble: geostrategic concerns, public debate and the promotion of an American trans-oceanic canal in the 1820s

The article examines the interest in the United States for the construction of a trans-oceanic canal in Central America. In 1820, William Davis Robinson published a book, Memoirs of the Mexican Revolution, which contained an appendix discussing the practicability of building a trans-oceanic canal including detailed analysis of the potential routes for its construction. The appendix sparked a lively debate among American political and economic leaders. This debate would not abate until the enormity of the financial and engineering realities of the project coupled with the continuing political instability of Mexico, Greater Colombia, and the Republic of Central America dampened investor enthusiasm.