What was the reason for varying amounts of low interest loans for each mile of track?
The loan amounts varied based upon the distance from the East coast.
The loan amounts varied based upon who was authorized to build the rail.
The loan amounts varied based upon the difficulty of laying track through the terrain.
The loan amounts varied based upon the distance from California.
The loan amounts varied based upon the difficulty of laying track through the terrain.
The loan amounts varied based upon the difficulty of laying track through the terrain.
The reason for varying amounts of low interest loans for each mile of track is primarily because the loan amounts varied based upon the difficulty of laying track through the terrain.
When the United States government introduced the Pacific Railroad Act of 1862, it provided loans and land grants to companies willing to build railroads to connect the East and West coasts. The loans were given based on the distance traveled by the track and the difficulty of navigating the terrain.
The railroad companies were authorized to build the rail, and the loan amounts they received reflected the challenges they would face during construction. The more challenging the terrain, the higher the loan amount, as it would require greater effort and resources to lay the track.
Therefore, the loan amounts varied based on the difficulty of laying track through the terrain, rather than the distance from the East coast or California.