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This is a 3" x 4.25" postcard album I found in an old desk I acquired.
I have no idea the age of the item, but I found it very interesting, especially the facts included about the canal. *Since an image depicts Madden Dam during construction, it may be pre-1935 (when that dam was completed).

There are 16 images depicting different locks, ships, Spillway, dam, that accordion from the interior of the card. All full color, titled at the top in Spanish and in English at the bottom.

Titles on the images:
Panama Pacific Liner in Pedro Miguel Locks, Panama Canal
The Pedro Miguel Locks, Panama Canal
New Grace Line Boast Passing through Gaillard Cut, Panama Canal
Gatun Locks by Moonlight, Panama Canal
Madden Dam in the Course of Construction, Panama Canal Zone*
Vessel in the Canal near Paraiso, between Gaillard Cut
and Pedro Miguel Locks, Panama Canal
U.S.S. "New Mexico" Passing through the Locks at Gatun, Panama Cana
Gatun Spillway, Showing 4 Sluice Gates Discharging, Panama Canal
A New United Fruit Vessel in Gatun Locks, Panama Canal
Electric Mule Towing Ocean Liner through Gatun Locks, Panama Canal
S.S. "Franconia" in Gaillard Cut, Panama Canal
Statue of Columbus, U.S. Atlantic Fleet in the Background, Panama Can
U.S. Destroyers in Miraflores Locks, Panama Canal
S.S. President Adams "Dollar Line" in Gaillard Cut, Panama Canal
U.S. Submarine Chasers Passing Gaillard Cut, Panama Canal
U.S. Submarine Chasers being Locked at Gatun, Panama Canal

Cover image Title:
Panama Pacific S.S. Pennsylvania in Gaillard Cut, Panama Canal

Back image Title:
General View of Miraflores Locks Looking Towards the Lake

The outer card has a linen finish, and the interior accordion is of magazine card stock. Both are numbered D:548, but there are no dates or artist names present.
There is an address printed on the front, bottom left:
Sucesion De 1. L. Maduro, Jr., 34-46 Cathedral Square, Panama

If anyone can tell me the age or any history of an item like this, I'd be very interested.