The Transcontinental Railroad

The building of the Transcontinental changed the way business was conducted and the lives of everyone in the United States. The country was connected now more than ever. Economic specilization, which was the philosophy of Adam Smith, allowed much greater efficency and resulted in a booming economy. The US's power and population grew at and exponential rate and put much of that power in the hands of the raildroad's.

Millions of dollars went into the railroad which resulted in the Panic of 1873.

How did this impact America?

Crash of 1873😉