Colon Day is observed in Panama every November 5 and is part of the country's celebrations during Independence Month. This day commemorates the historical events surrounding Panama's independence from Colombia, which was officially declared on November 3, 1903. Following the declaration, the Colombian Army was ordered to march on Panama City, but negotiations by Panamanian officials successfully persuaded them to refrain from intervening. The city of Colon, named in honor of Christopher Columbus, is a significant location tied to this celebration, as it was established during the California gold rush. Colon Day serves as Panama's version of Columbus Day, although Columbus did not found the city himself. The day is marked with various festivities reflecting the joy and pride of Panamanians in their independence.