The Railroad Builders: A Chronicle of the Welding of the StatesMoody, John
History
The Railroad Builders: A Chronicle of the Welding of the States
Moody, John
Railroads -- United States -- History
The cost of the Union Pacific Railroad from Omaha to its junction with
the Central Pacific formed a subject of controversy for a generation.
The saving of six months of the allotted time for completing the road
no doubt increased its cost to the builders, for at times they borrowed
money in the East at rates as high as 18 and 19 per cent. Besides, in
pushing the line far beyond the bounds of civilization without
waiting for the slower pace of the settler and the security which his
protection afforded, it often became necessary for half the total number
of workmen to stand guard and thus reduce the working capacity of
the construction force. Even so, hundreds were killed by the Indians.
Governmental restrictions of various kinds also increased the cost of
the road. For example, the stipulation that only American iron should
be used increased the cost by at least ten dollars for every ton of rail
laid. The requirement that a cut should be made through each rise in the
Laramie plains, thus giving the track a dead level instead of conforming
to the natural roll of the country, ultimately resulted in a waste of
from five to ten million dollars. Extraordinary costs such as these,
combined with the extravagant methods of construction and financing,
brought the total cost of the property up to what was in those days
a fabulous sum of money. The records indicate that the profits
which accrued through the Credit Mobilier and in other ways in the
construction up to the time of the opening in 1869 exceeded fifty
millions of dollars.
While the Union Pacific was being built, from 1862 to 1869, other
railroads were not idle, and many were rapidly reaching out into the
Central West. Not only had the Chicago and North Western reached Omaha
and made connection with the Union Pacific, but the Kansas Pacific had
penetrated as far west as Denver and had joined the Union Pacific at
Cheyenne.
Public-domain text, read in full here on John Shaqi.
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