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| Re: NY congressman Higgins writes Amtrak's Moorman in support of reopening Buffalo Central Terminal (1430954) | |||
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Re: NY congressman Higgins writes Amtrak's Moorman in support of reopening Buffalo Central Terminal |
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Posted by Nilet on Wed Mar 22 20:14:59 2017, in response to Re: NY congressman Higgins writes Amtrak's Moorman in support of reopening Buffalo Central Terminal, posted by Joe V on Wed Mar 22 18:28:01 2017. Not everyone applauded the subsidies. For example, the land grant–loan system under the Pacific Railway Act was subjected to harsh criticism by reformers who argued that it represented a vast give–away of money and public property to assist businessmen who made vast fortunes. As a result, the program of federal aid was discontinued in 1871. However, the arguments of the reformers were not entirely correct. The loans were, for the most part, repaid and the railroad companies did not reap vast fortunes from the re–sale of their land grants." Or, in other words, the railroads were subsidised through free government land, but they used the subsidy to fund their construction rather than simply pocket the money and run. Also, they repaid the loans that they received in addition to the subsidies. I love when you prove my point for me. |
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