2 Ekim 2012 Salı

New York, Pittsburgh and Chicago RR Promise

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The proposed New York, Pittsburgh and Chicago Railroad's route is what is so interesting about the project. It would have created the shortest route from Chicago to New York. It would have had favorable grades. Had it been been built as first proposed by Ramsey in 1906 as an electrified railroad, together with the favorable grades and shorter route; it would have had operational and maintenance costs substantially less than those of steam powered railroads. A little thing called the 1907 Panic interfered.

The 1907 Panic was a banking crisis that caused a severe economic downturn.

Here was the promise as published August 21, 1906 in the New York Times:



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