A Letter From The Publisher, Aug. 22, 1977

Journalists, as everyone knows, are compulsive (and sometimes compelled) travelers. Journeys in pursuit of stories often produce separate excursions backward in time, flights of nostalgia and memory that help a skilled observer feel his way into the subject he is covering.

This week's cover story on the new Panama Canal agreement engaged TIME Correspondents Jerry Hannifin and Bernard Diederich in the past as well as the present. Diederich, our Mexico City bureau chief since 1969 and the winner of the Maria Moors Cabot Prize for Latin American reporting, has been following the canal situation...

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