The Railroad Empire grew at the end of the Civil War. It expanded from 35,000 miles to 193,000 miles in about 35 years. Investors gave money as well as the government which allowed companies to grow, while making money from the land-use for track. Grants of land and cash stimulated the railroad across the west. This allowed …show more content…
However in 1862 in 1864 when the south was out of the picture Congress was able to move forward with their plans to build the transcontinental railroad. Charter the Union Pacific Railroad Company to build West word from Nebraska which allowed the Central Pacific Railroad Company to build east word from California. If you ge The dream to link the Atlantic and Pacific ocean have been lost over sectional corals. However in 1862 and 1864 when the south was out of the picture Congress was able to move forward with their plans to build the transcontinental railroad. It charter the Union Pacific Railroad Company to build Westword from Nebraska which allowed the Central Pacific Railroad Company to build east word from California. In 1863 children began at the same time in Omaha and Sacramento and became a race after 1865. The construction chief of the union pacific was general Grenville M. Dodge while the construction cheif for the central pacific was Charles Crocker. His crews were attacked by Native Americans that were defending their lands however he had an advantage because he built over a flat Prairie. He hired 6000 Chinese laborers mostly brought directly from China. On May 10 of 1869 the two lines met at Promontory, Utah. both president hammered in a Golden Spike and the connection was made. There were three more railroads the reach the coast in …show more content…
The main problem was over building, which meant that the rebel owners had to try to consolidate. However the economic panic of 1893 lead to a depression and by 818 94 a quarter of the roads went bankrupt including the Erie piano Santa Fe Northern Pacific and Union Pacific. J.P. Morgan A banker, was a very powerful figure in American finance. After 1893 they refinance ailing railroads and took control of the industry. Between 1894 1898 he re-organize the Southern Railway the Erie in the Northern Pacific and the B and O. In the 1900s seven giant systems control literally two thirds of the mileage and a national transportation network was now in