Author Question: The transcontinental railroads were built and owned by private companies but financed by the public ... (Read 31 times)

james

  • Hero Member
  • *****
  • Posts: 573
The transcontinental railroads were built and owned by private companies but financed by the public (with one exception, James J. Hill's Great Northern). The sparseness of population between the Mississippi Valley and California and Oregon (Washington State after 1889) made it impossible to attract private investors to railroads connecting the East and West. Construction was too expensive. Building a mile of track meant bedding 3,000 ties in gravel and attaching 400 rails to them by driving 12,000 spikes. Having built that mile in Utah or Nevada, a railroader had nothing to look forward to but hundreds more miles of scarcely inhabited desert mountains. With no customers along the way, there would be no profits; without profits, no investors. The federal government had political and military interests in binding the Pacific Coast to the rest of the Union, and, in its land, the The Pacific Railway Act of 1862 granted to two companies, the Union Pacific (UP) and the Central Pacific (CP), a right of way 200 feet wide between Omaha, Nebraska, and Sacramento, California. For each mile of track that the companies built, they were to receive, on either side of the tracts, 10 alternate sections (square miles) of the public domain. The result was a belt of land 40 miles wide, laid out like a checkerboard on which the UP and the CP owned half the squares. The railroads sold the land to provide the money for construction and created customers in the buyers. Or they used their vast real estate as collateral against which to borrow cash from banks. In addition, depending on the terrain, the government lent the two companies between 16,000 and 48,000 per mile of track at bargain interest rates. According to the passage, the railroad was mostly built through
 
  a. densely populated cities.
  b. swamps and marshlands.
  c. mountains and deserts.
  d. lush green forests.

Question 2

The transcontinental railroads were built and owned by private companies but financed by the public (with one exception, James J. Hill's Great Northern). The sparseness of population between the Mississippi Valley and California and Oregon (Washington State after 1889) made it impossible to attract private investors to railroads connecting the East and West. Construction was too expensive. Building a mile of track meant bedding 3,000 ties in gravel and attaching 400 rails to them by driving 12,000 spikes. Having built that mile in Utah or Nevada, a railroader had nothing to look forward to but hundreds more miles of scarcely inhabited desert mountains. With no customers along the way, there would be no profits; without profits, no investors. The federal government had political and military interests in binding the Pacific Coast to the rest of the Union, and, in its land, the The Pacific Railway Act of 1862 granted to two companies, the Union Pacific (UP) and the Central Pacific (CP), a right of way 200 feet wide between Omaha, Nebraska, and Sacramento, California. For each mile of track that the companies built, they were to receive, on either side of the tracts, 10 alternate sections (square miles) of the public domain. The result was a belt of land 40 miles wide, laid out like a checkerboard on which the UP and the CP owned half the squares. The railroads sold the land to provide the money for construction and created customers in the buyers. Or they used their vast real estate as collateral against which to borrow cash from banks. In addition, depending on the terrain, the government lent the two companies between 16,000 and 48,000 per mile of track at bargain interest rates. According to the passage, the railroads were able to obtain construction funds by
 
  a. selling railroad stocks to private investors.
  b. giving the construction workers a share of the profits.
  c. applying for government grants.
  d. selling land or getting low interest government loans.



al

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

c

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

For a complete list of videos, visit our video library