The old saying that capital is the most timid thing in the world and does not like pioneering is strongly emphasized by such instances as this, and no doubt in 1864 the enormous grants of free land made by Congress did not appear especially attractive to the man who had money to invest.
More Quotes from John Moody:
The public conviction that a railroad linking the West and the East was an absolute necessity became so pronounced after the gold discoveries of '49 that Congress passed an act in 1853 providing for a survey of several lines from the Mississippi to the Pacific.John Moody
By 1880 four different lines of railroad were running through to the Pacific States, and a fifth, the Denver and Rio Grande, had penetrated through the mountains of Colorado and across Utah to the Great Salt Lake.
John Moody
The close relationship between railroad expansion and the genera development and prosperity of the country is nowhere brought more distinctly into relief than in connection with the construction of the Pacific railroads.
John Moody
A minority investment, even though it be as low as ten or twenty per cent, usually constitutes a dominating influence if held by a single interest, for in most cases the majority of the shares will be owned in small blocks by thousands of investors who never combine for a definite, practical purpose.
John Moody
In the United States three new methods of transportation made their appearance at almost the same time - the steamboat, the canal boat, and the rail car.
John Moody
As the contest proceeded, public interest increased and the entire country watched to see which company would win the big government subsidies through the mountains.
John Moody
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