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Pros And Cons Of The Transcontinental Railroad

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The Transcontinental Railroad and the American Government System The Transcontinental Railroad is a contiguous network of railroad track that crosses a continental landmass with terminals at different oceans or continental borders. Construction began in 1863 and concluded in 1868; the tracks stretched 1,776 miles long, connecting the Pacific and Atlantic Oceans. The idea of building this monumental rail line was present in America decades before the Pacific Railroad Acts of 1862 authorized the construction. The Pacific Railroad Acts were passed because at the end of the American Civil War, the southern Democrats (who opposed the idea) were now absent from Congress; therefore, the republicans …show more content…

To fund this monster project, the government began to issue taxpayer-funded government bonds to corporations. Although the total project cost fifty-three million dollars, it cost the taxpayers seventy-two million dollars. The rail line set up scenarios where these corporations could turn to the government to subsidize their projects at the taxpayer’s expense. Here are a few examples of how the corporations took advantage of their opportunities that came with the transcontinental railroad; since the government funded all the work, executives stole from their own companies. They did this by manipulating the stocks; this was done by the action of the bosses buying stocks in struggling eastern rail companies, spread rumors that the transcontinental line would link to these companies, then selling those stocks as soon as they rose to their desired point; this specific scheme gained an estimated 5 million dollars. These actions brought the nation into an era of crony capitalism. This crony capitalism is still present today in the form of bank and industry bailouts, and the diversion of taxpayer funds to favor …show more content…

Established in 1842, the US House & Senate Committees have looked back at the railroad and used it to advance the ways and means of transporting goods, supplies, mail, and people. Look at what it has done; it has served as an artery, moving what is needed throughout the entire nation from the Atlantic to the Pacific. From giving jobs to those minority groups and once former slaves after the Civil War, throwing the stock market and economy left and right, assisting Abraham Lincoln in winning elections and also winning the Civil War, helping rebuild the South and the nation’s economy from the bottom up during the reconstruction era, taming the Wild West (which has a major direct influence on the American Government System), serving as one of the best ways of getting mail to citizens across the US, and expanding intercontinental trade to have its own manifest destiny. This railroad had a significant affect in the growth of this nation and its government. It’s relationship and way it impacts the government is a result from multiple chain reactions that originated from the 1860s, 70s, 80s, etc. and I strongly believe, after all of my research, that our nations governmental system would be many decades behind if it wasn’t for the transcontinental

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