A Frenchman stands outside the U.S. Treasury building, holding in one hand a newspaper that states “Colombia Rejects Canal Treaty” and in the other hand a paper labeled “40,000,000 for France if Treaty is Ratified.” It appears that he was about to cash in a promissory note for $40 million, only to discover at the last moment that it is worthless.

comments and context

Comments and Context

The disappointed Frenchman in Pughe’s cartoon reflected the angrier (if possible) reaction of President Roosevelt, Secretary of State John Hay, Senator John Spooner (R-WI), and other American proponents of a canal through the Panamanian region of Colombia. A treaty, with all business and financial arrangements, had been negotiated, only to be rejected by the Colombian senate.

Roosevelt regarded the rejection as a sort of blackmail attempt; and French interests who anticipated a $40-million buyout of old concessions feared a permanent default of their claims. When Panama seceded and declared independence, America got its canal agreement; and French claimants were satisfied in the new treaty.

Collection

Library of Congress Prints and Photographs

Creation Date

1903-09-09

Creator(s)

Pughe, J. S. (John S.), 1870-1909

Period

U.S. President – 1st Term (September 1901-February 1905)

Repository

Library of Congress Prints and Photographs Division

Page Count

1

Record Type

Image

Resource Type

Cartoon

Rights

These images are presented through a cooperative effort between the Library of Congress and Dickinson State University. No known restrictions on publication.

Citation

Cite this Record

Chicago:

“Sacre bleu!”. [September 9, 1903]. Library of Congress Prints and Photographs.
https://www.theodorerooseveltcenter.org/digital-library/o277351. Theodore Roosevelt Digital Library. Dickinson State University.

MLA:

Pughe, J. S. (John S.), 1870-1909. “Sacre bleu!”. [9 Sep. 1903]. Image.
Library of Congress Prints and Photographs. Theodore Roosevelt Digital Library. Dickinson State University. February 26, 2026. https://www.theodorerooseveltcenter.org/digital-library/o277351.

APA:

Pughe, J. S. (John S.), 1870-1909., [1903, September 9]. “Sacre bleu!”.
Library of Congress Prints and Photographs. Theodore Roosevelt Digital Library. Dickinson State University.
Retrieved from https://www.theodorerooseveltcenter.org/digital-library/o277351.

Cite this Collection

Chicago:

Library of Congress Prints and Photographs. https://www.theodorerooseveltcenter.org/collection/library-of-congress-prints-and-photographs. Theodore Roosevelt Digital Library. Dickinson State University.

MLA:

Library of Congress Prints and Photographs. Theodore Roosevelt Digital Library. Dickinson State University. February 26, 2026. https://www.theodorerooseveltcenter.org/collection/library-of-congress-prints-and-photographs.

APA:

Library of Congress Prints and Photographs. Theodore Roosevelt Digital Library. Dickinson State University. Retrieved from https://www.theodorerooseveltcenter.org/collection/library-of-congress-prints-and-photographs.