Effects of a completed Nicaragua Canal on US foreign policy in Latin America

The basic premise is as follows: what if the Panama Canal plan never came to fruition and instead the US and other foreign investors ensured the completion of the Nicaragua Canal. Furthermore, assume that the US never backs the Panamanian independence movement due to this turn of events. How would the completed Nicaragua Canal influence American foreign policy and political developments in Latin America?
 
I was thinking work would start sometime around the turn of the century and end in the middle of the next decade (1913-1917 ish)
 
Nicaragua was already essentially a US puppet OTL, so I doubt they're going to come more under US control. Panama will stay part of Colombia.
 
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