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Most of the transcontinentals[rail lines] were heavily subsidized by all levels of government via sub-market-rate loans, land grants, and special local privileg
by ajmadesc 5y ago
Most of the transcontinentals[rail lines] were heavily subsidized by all levels of government via sub-market-rate loans, land grants, and special local privileges on the frontier.
- Conservative Enterprise Institute
- stuaxo 5y agoMuch like roads are.
- jeffbee 5y agoEspecially the land grants. The US government gave ten percent of its territory to the railroads to get them built. The experience proves the opposite of "only private industry will invest".
- karmelapple 5y agoI don’t understand why this piece of the thread isn’t more highly upvoted. The rails weren’t able to do what they did without massive government assistance.