This article shows the dilemma between Colombian absorption andAmerican interference suffered by the Federal State of Panama. It considers that a new Panamanian historical epoch steams with the establishment of the Federal State. It studies the effects of international engagements that emerged in the Isthmus in those days.And it asks about the viability of political self-determination during that period. It reveals the anti-American spirit of the Federal State of Panama and circumscribes the transformation of Panamanian society from the beginning of federalism. It identifiesAmerican abuses since the creation of the Federal State and shows a new type oyAmerican expansionismin the Isthmus indicating the surrender andAmerican protection evoking the frail economic sovereignty of Panamanian Federal State.