Why Are Railroads Important? What is the role of Railroads in American Life

Agenda For Topic 1: Why are Railroads Important Overall 1. They Are Essential to the Modern Economy 2. Their Age – 1828 - Present 3. Their Unprecedented Economic Effects 4. “Private” Ownership in an almost pure Capitalist Environment 5. The Benefits and Costs of Government Regulation The Current Railroad System 1. Railroads are the best way to move Heavy Freight Over Land. Railroads are more Energy Efficient and Less Polluting than Trucks. 2. Intermodal (Containers and Trailers) 3. Coal 4. Oil 5 Hazardous Materials The Railroad in American Life: A Political-Economic Theory

1. Railroads are necessary for the efficient functioning of a modern economy. No other transportation mode can handle the bulk shipping necessary for an industrial economy with the speed and efficiency of a modern Diesel-Electric Locomotive on a high quality roadbed.

2. Their Age – 1828 –> Now The age of the railroad network allows us to study how the economic and political systems interact.

Political System - Economic System   The Unanticipated Political and Economic Effects of Inventions and Entrepreneurial Activity The Railroads radically altered the Economy and generated vast new industries. These economic effects then affected the Railroads through Government regulation. (More on this Later)

A Marvel of Civil Engineering: The Horseshoe Curve. Opened 15 February 1854. Designed by John Edgar Thomson.

The Genius of Thomson’s Engineering – The use of the Topography to Gain Elevation With a Reasonable Grade

A Marvel of Mechanical Engineering: Union Pacific’s “Big Boy”, 4-8-8-4, 762,000 lbs, tender 342,000 lbs, 6,290 HP

Another Marvel of Mechanical Engineering: The “Allegheny” Class Locomotive 2-6-6-6, 778,000 lbs, tender 430,000 lbs, 6,900 HP

Largest AC Traction Diesel-Electric Locomotive: GE AC6000CW Largest AC Traction Diesel-Electric Locomotive: GE AC6000CW. Weight 432,000 lbs; 6000 HP

The Lucian Cutoff over the Great Salt Lake The Lucian Cutoff over the Great Salt Lake. Built 1902-04 by Edward Henry Harriman

3. Their Unprecedented Economic Effects They were the first mass transportation in human history. For the first time ordinary people could afford to cheaply and safely travel over long distances on land.

4. “Private” Ownership in an Almost Pure Capitalist Environment

James J. Hill, b. 16 September 1838 d. 29 May 1916

Edward Henry Harriman, b. 20 February 1848, d. 9 September 1909

5. The Benefits and Costs of Government Regulation