History of the Railroad Development Corporation: Railroads Past and Present

Railroaders without Borders: A History of the Railroad Development Corporation (Railroads Past and Present)

by H. Roger Grant

5 out of 5

Language	:	English
File size	:	60231 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Print length	:	255 pages
Paperback	:	96 pages
Item Weight	:	10.7 ounces
Dimensions	:	6.5 x 0.3 x 9.25 inches

FREE

The Railroad Development Corporation (RDC) was a government-owned corporation created in 1926 to finance and build railroads in the United States. The RDC was the successor to the War Finance Corporation, which had been created in 1918 to provide loans to railroads during World War I.

The RDC's mission was to provide loans and grants to railroads for the construction and improvement of their infrastructure. The RDC also provided loans to railroads to purchase new equipment and to refinance existing debt. The RDC's loans and grants were essential to the development of the railroad industry in the United States.

The RDC was dissolved in 1952, and its functions were transferred to the Interstate Commerce Commission. The ICC continued to provide loans and grants to railroads until 1976, when the Railroad Revitalization and Regulatory Reform Act of 1976 created the Consolidated Rail Corporation (Conrail).

Conrail was a government-owned corporation created to take over and operate the bankrupt railroads in the Northeast. Conrail operated until 1999, when it was sold to private investors. The sale of Conrail marked the end of government ownership of railroads in the United States.

Today, the railroad industry in the United States is a privately owned and operated industry. The major railroads in the United States are:

• BNSF Railway
• CSX Transportation
• Norfolk Southern Railway
• Union Pacific Railroad

These railroads operate a network of over 140,000 miles of track and transport over 1 billion tons of freight annually.

Railroads Past

The first railroads in the United States were built in the early 1800s. These early railroads were used to transport goods and people between cities and towns. The railroads played a major role in the development of the United States, and they helped to connect the East and the West.

In the late 1800s and early 1900s, the railroad industry in the United States experienced a period of rapid growth. The railroads were used to transport not only goods and people, but also raw materials and finished products. The railroads also played a major role in the development of the American economy.

The railroad industry in the United States reached its peak in the early 1900s. At that time, there were over 250,000 miles of track in operation in the United States. The railroads were the dominant mode of transportation for both freight and passengers.

Railroads Present

The railroad industry in the United States has undergone a number of changes in recent decades. The most significant change has been the decline in passenger rail service. In the early 1900s, the railroads were the dominant mode of passenger transportation. However, the development of the automobile and the airplane led to a decline in passenger rail service.

Today, passenger rail service in the United States is provided by Amtrak. Amtrak operates a network of over 21,000 miles of track and serves over 500 stations in 46 states. Amtrak is the only passenger railroad in the United States that provides long-distance service.

The railroad industry in the United States is still a vital part of the economy. The railroads transport over 1 billion tons of freight annually, and they play a major role in the transportation of raw materials and finished products.

The Railroad Development Corporation played a major role in the development of the railroad industry in the United States. The RDC provided loans and grants to railroads for the construction and improvement of their infrastructure. The RDC also provided loans to railroads to purchase new equipment and to refinance existing debt.

The RDC's loans and grants were essential to the development of the railroad industry in the United States. The railroads helped to connect the East and the West, and they played a major role in the development of the American economy.

Today, the railroad industry in the United States is a privately owned and operated industry. The major railroads in the United States operate a network of over 140,000 miles of track and transport over 1 billion tons of freight annually.

Railroaders without Borders: A History of the Railroad Development Corporation (Railroads Past and Present)

by H. Roger Grant

5 out of 5

Language	:	English
File size	:	60231 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Print length	:	255 pages
Paperback	:	96 pages
Item Weight	:	10.7 ounces
Dimensions	:	6.5 x 0.3 x 9.25 inches

FREE