What is the Railroad Act of 1862?
This act, passed on July 1, 1862, provided Federal subsidies in land and loans for the construction of a transcontinental railroad across the United States. The legislation authorized two railroad companies, the Union Pacific and the Central Pacific, to construct the lines.
What law helped the development of the transcontinental railroad What two railroads were involved?
The Railroad Act of 1862 put government support behind the transcontinental railroad and helped create the Union Pacific Railroad, which subsequently joined with the Central Pacific at Promontory, Utah, on May 10, 1869, and signaled the linking of the continent.
What two acts made the railroads follow the rules?
In 1887 Congress passed the Interstate Commerce Act, making the railroads the first industry subject to Federal regulation. Congress passed the law largely in response to public demand that railroad operations be regulated.
What was the impact of the Railway Act?
Congress responded with the Pacific Railway Act of 1864. The government increased the land grants from 10 to 20 miles, issued loan money faster, and allowed the companies to keep any timber or minerals, such as coal, found during construction. The railroads were also able to raise cash by selling their own bonds.
What is the importance of the Pacific Railway Act?
The legislative efforts that resulted in the Pacific Railway Act led to the successful completion of the transcontinental railroad, which reduced the travel time across the continent from several months to one week and is considered one of the greatest technological achievements of the 19th century.
Why was the completion of the railroad so important?
The railroad opened the way for the settlement of the West, provided new economic opportunities, stimulated the development of town and communities, and generally tied the country together.
What was the purpose of the Pacific Railway Act?
The act was an effort to aid in the construction of a railroad and telegraph line from the Missouri River to the Pacific Ocean and to secure the use of that line to the government. The legislation authorized two railroad companies, the Union Pacific and the Central Pacific, to construct the lines.
Who was involved in the construction of the transcontinental railroad?
From the beginning, then, the building of the transcontinental railroad was set up in terms of a competition between the two companies. In the West, the Central Pacific would be dominated by the “Big Four”–Charles Crocker, Leland Stanford, Collis Huntington and Mark Hopkins.
What was Section 2 of the Railroad Act?
Section 2 of the Act granted each Company contiguous rights of way for their rail lines as well as all public lands within 100 feet (30 m) on either side of the track. Section 3 granted an additional 10 square miles (26 km²) of public land for every mile of grade except where railroads ran through cities or crossed rivers.
When was the completion of the Pacific Railroad?
The Official “ddcdcof Completion” of the Transcontinental Railroad under the Provisions of the Pacific Railroad Act of 1862, et seq., as Established by the Supreme Court of the United States to be November 6, 1869.