Richard White Quotes
All the arguments given for building the Trans-Continental Railroad at the time were plausible but turned out not to be true.
While all the benefits of building the Trans-Continental Railroad that were claimed for the public during the Congressional debate turned out to be untrue, many of them were sincerely believed by the Congressmembers and special interests who advocated them. Not only were the benefits claimed unreal in practice, but none of the negative consequences were anticipated. (The destruction of the great Buffalo herd, and the huge foreign immigration were just two.) At the same time, the true benefits were also unanticipated. (The development of the telegraph system of the nation and the standardization of time zones in the country are two of these.) It is a profound historical example of unanticipated consequences, both good and bad, of government policy and programs.
Richard White, Historian, Speech, The Commonwealth Club of California, June 8, 2011
Sourced by: Eigen's Political and Historical Quotations
Bonnycastle was one of the earliest visionaries of a transcontinental railroad. The Canadian version however was constructed after the United States.
In America that had almost happened as the farmers were at the mercy of the railroad monopoly in any one area.
Ten years later, The Transcontinental Railroad was completed. What Sherman did not count on was the massive subsidies that the government offered the companies to build the railroad fast.
This was an incredible prediction that few people thought was possible. This speech was given in the early days of WWII when it was far from clear that we would win.
The Mormon settlement of the West has, from an economic development point of view, produced a successful model that few have ever even approached. Using techniques that ranged from classic capitalism to classic socialism, they blended both systems into a unique structure of their own. The results were spectacular despite the fact that the Mormons faced boycotts from manufacturers throughout the country and could borrow no money from banks, and never received any financial help from the Federal or any other government but their own. Even if they had gone into heavy debt, the results would have been spectacular, but achieving all that without any debt whatsoever is one of the most successful economic developments in the history of the world.
After Turkey’s defeat in WWI, some Turkish leaders like Riza Nur wanted Turkey to become a colony of America. This they believed would hasten Turkey’s development and modernization.
The debate was on a bill to provide a 9.5 million pound subsidy to the Cunard company which had run out of money trying to build the first over 1000 foot ocean liner. Like the Hoover administration in the U. S, the idea of government economic development was not approved by the British Government. However, at the urging of Kirkwood. Lord Weir and the Prince of Wales the subsidy was voted. The result of the bailout was The Queen Mary.
The mayor was confronted with a poll showing that over 70 percent of the public opposed taxpayer support for a sports stadium which would provide subsidies to profitable professional sports teams. Nonetheless he continued to support the idea believing that the issues were too complex for the public to understand.
