The Railway Conquest of the WorldTalbot, Frederick Arthur Ambrose
History
The Railway Conquest of the World
Talbot, Frederick Arthur Ambrose
Railroad engineering -- History; Railroads -- History
It is doubtful in the history of British North America whether
any project of avowed benefit to the community has experienced
such vicissitudes as the first trans-Canadian railway. It wrecked
ministries, brought about the political extinction of more than one
promising member of Parliament, provoked heated agitation, and involved
the abortive expenditure of large sums of money.
The Government, however, decided to help private initiative
sufficiently daring to attempt the undertaking in a liberal manner.
In the first place a subsidy of £5,000,000, or $25,000,000, was
granted to aid construction; the Government undertook to build 713
miles with its own resources, and made a free gift of 25,000,000 acres
of land fringing its route. At that time the land was worthless, so
its bestowal was not of immediate value, but to-day it represents an
asset of incalculable value, and gives the company a sheet anchor of
tremendous strength.
In the end the Government went very much farther. It made a free
gift of the line it had constructed, which was worth at the very
least,£7,000,000, or $35,000,000. While construction was in progress
there was urgent need for further money. Financiers refused to provide
funds, and as a result the Government stepped in and advanced a loan
of £6,000,000--$30,000,000--which action was so bitterly criticised
at the time that the Ministry was urged to wipe off the debt once and
for all by making it a gift, for all the prospect there was of it
ever being repaid. But the loan was redeemed, partly by an issue of
stock, and partly by the Government buying back some 7,000,000 of the
25,000,000 acres which it had given to the company in the first place
at 6 shillings per acre, representing to all intents and purposes a
further gift of some,£2,000,000, or $10,000,000. Probably no railway
undertaking has ever been treated with such prodigal liberality in
the history of the iron horse; but at the time it was warranted
fully, bearing in mind the magnitude of the scheme and the tremendous
difficulties which confronted the company at every turn.
[Illustration: THE “GAP,” THE EASTERN ENTRANCE OF THE CANADIAN PACIFIC
RAILWAY TO THE ROCKY MOUNTAINS]
When construction commenced in grim earnest the builders found that
the critics had not erred on the side of under-estimation in regard
to the character of the difficulties to be overcome. The thin band
of steel was driven through country of which practically nothing was
known; where every succeeding mile revealed something unexpected. For
instance, in following the shore of Lake Superior it was one desperate
grapple with Nature for every yard. Mountains dropped sheer into
the lake, and their humps were divided by stretches of wicked muskeg,
the Indian name for swamp, where in many cases the bottom defied being
discovered, and where thousands of tons of rock were swallowed up
without showing any gratifying result.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account