In considering the financial history of the transcontinental railroads, the text argues that:
a. there was surprisingly little corruption given the corruption in other walks of life at the time.
b. there was surprisingly little corruption, mostly involving the buying off of federal regulators when rate controls became unreasonable.
c. there was a great deal of corruption, mostly in the form of high fees chargedimmigrants for what was really free federal land.
d. there was a great deal of corruption, mostly because construction companies were run by insiders.
Question 2
A common unscrupulous financial practice of railroad promoters (and the basis of the Credit Mobilier scandal) involved
a. federal tax evasion.
b. insider ownership of railroad construction companies.
c. sales of worthless railroad bonds to unwitting buyers.
d. insurance fraud.
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