Lyndon Johnson actually said...

The canal is growing old, and so are the treaties for its management, which go back to 1903.

For 50 years the Panama Canal has carried ships of all nations in peaceful trade between the two great oceans--on terms of entire equality a...

I have decided to propose to the Government of Panama the negotiation of an entirely new treaty on the existing Panama Canal.

This is very attractive and I am happy and proud to accept this pass.