Hist 177 lecture notes 11

Hist 177 lecture notes 11 - Hist 177 lecture notes 11/7 The...

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Hist 177 lecture notes 11/7 The First Big Business Overland California Mail Act Butterfield Overland Stage Wells Fargo Pony Express Theodore Judah Leland Stanford Charles Crocker Mark Hopkins Collis Huntington The Big Four (Stanford, Crocker, Hopkins, and Huntington) Pacific Railway Act Union Pacific RR Central Pacific RR(Railroad) The railroads were CA’s First Big Business -They were the first high tech industry - They required precision engineering and huge operating costs - They attracted investors who had a lot of money -They were the first companies (railroads) to start Stock/ Bonds -They created a new need for capital - They had a vice president in charge of fixed stock, treasury, + they needed these people because they had so many people in the business
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-First railroads were in England - 1820 railroads came to the US and were made with British Capital Money -the US South lost the civil war cause they didn’t have that many railroads down in the south of US - After statehood CA needed railroads, in CA and going out to other states to the East - It kept the Spanish to the mission and coastal areas - Statehood and the Gold Rush helped finance the railroad - It takes a long time to build a railroad -First thing the Federal Government did was to initiate in 1857 a way of distributing mail
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Hist 177 lecture notes 11 - Hist 177 lecture notes 11/7 The...

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