How Did The Transcontinental Railroad Affect The Economy

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Sherry Li
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01/27/2017
As the transcontinental railroad began operation, changes came fast and furious in America.The Pacific Railroad Bill and several grants that allowed financial support for the Central Pacific and Union Pacific railroad companies. These two companies then began constructing what would become the transcontinental railroad. The Union Pacific Railroad was the eastern half of the Transcontinental Railroad. It linked with existing railroads from the east and with the new Central Pacific Railroad line from California. The Central Pacific go through the Sierra Nevada, a rugged mountain range east of Sacramento. Therefore, the transcontinental railroad promote the economy of the United States. Also, as the development of …show more content…
In the late 1800s, settlers moving west to the great plains. Mining, ranching and farming have brought prosperity to the American economy. First, mining is the deposits of gold, silver, and copper are discovered. The new technologies, such as hydraulic mining make it possible to remove vast quantities of ore. Operations at Leadville and other mining towns in Colorado yielded more $1 billion worth of silver and gold. Otherwise, since the long drive overland transport of cattle by the cowboy over the three month period, the trade was opened to develop the economy of the United States. On the farming part, according to the Homestead Act, a settler could acquire up to 160 acres of land and pay a minimal fee of $30.00 just for living on it for five years and settling it. A settler could acquire it for only six months and pay $1.25 an acre. This was important because previously land was being sold for profit and now it was basically being given away. About half a million families took advantage of this offer. Also, bonanza farms were huge farms covering thousands of acres on the Plains that benefited from the economies of scale made possible by new machinery and outside capital
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