Role Of The Railroads Shifted Over Time - 1354 Words

The role of the railroads shifted over time. Eight months after the United States entered the First World War in 1918, President Woodrow Wilson called for the country’s railroads to be nationalized to mean the demands of the war. He did so under the Federal Possession and Control Act. As part of this process, he also decided to have new steam engines and cars designed to boost the abilities of the rail industry. He also arranged for the Railroad Control Act which took place in 1920. This act stated that when a peace treaty was signed, within 21 months, the railroads would be returned to their owners and compensation would be given for use of property. This did occur and the railroads were returned to private property. Railroads not†¦show more content†¦This allows the industry to be better connected and function as a whole to allow for best productivity, volume, revenue, and rates. Ultimately, the history of the rail industry was build one person at a time as they discovered and implemented a connection that would advance the industry. However, there were some key individuals who greatly influenced the process. As previously mentioned, Colonel John Stevens was an influential individual as he was a spark towards the first American railroad. Another instrumental individual was James Hill. Hill is known for his expansion of the railroads. He was a U.S. and Canadian railroad executive. He owned and grew the Great Northern Railway Company, and he also added additional companies. Jay Gould was another influential railroad executive. He is best known for his work as a financer and developer of projects in the rail industry. The influential people are not limited to only rails though. Cornelius Vanderbilt was known for his part in the shipping industry as a whole. He started out with a steamboat company, moved into steamships, and then expanded to include railroads. He also implemented the first service rail between New York and Chicago. In the same way, there are some principal companies who serve as fundamental pieces of the industry today. These main companies are referred to as Class 1 Railroads. In order for a railroad to be classified as Class 1 it must have an operating revenue of $433.2 million or more. There areShow MoreRelatedIndustrial Revolution Essay766 Words   |  4 PagesAmerican Industrial Revolution In the 19th century, America became an industrial country, the powered machinery shifted the industry into mass production. The development of steam engines improved the transportation system, further, increased the production of iron and steel. The textile industries have begun to develop, and produce various products. The industrialization leads to accessible banking, further, deliver telegraph communication to many businesses through locomotive trains. 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