Treaties among Panama, Colombia, and the United States to resolve disputes arising from the Panamanian Revolution of 1903 had been signed by the lame-duck Roosevelt administration in early 1909, and were approved by the Senate and also ratified by Panama. Colombia, however, declined to ratify the treaties, and after the 1912 elections, Knox offered $10 million to the Colombians (later raised to $25 million). The Colombians felt the amount inadequate, and requested arbitration; the matter was not settled under the Taft administration.