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| QUOTE COLLECTIONS OF John Moody |
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Quotes By author - Starting with J - John Moody
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There are 99 quotes for the author John Moody
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Quotations 71 to
80 of 99
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Yet the enthusiasts for railroads could not be discouraged, and presently the whole population divided into two camps, the friends of the canal, and the friends of the iron highway.
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When the scheme for the construction of a railroad from Baltimore to the waters of the Ohio River first began to take form, the United States had barely emerged from the Revolutionary period.
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The upshot of the matter was that Morgan devised a plan for the sale of a large amount of Vanderbilt's stock holdings through private sale in England, and in such a way that the knowledge of such sale would not become public in America.
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The market was buoyant; speculation was rampant; and the outside public, the delight and prey of Wall Street gamblers, were as usual drawn in by the fascination of acquiring wealth without labor.
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As we enter the Civil War period, we find the three important properties which were afterwards to make up the Vanderbilt system all developing rapidly and logically into the strategic relationship which would make ultimate consolidation inevitable.
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The construction of extensive railways, however, and particularly the consolidation of small, experimental lines into large systems, dates from the days of the discovery of gold in California.
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The early seventies were not a time of great prosperity in the newly opened West, and the farmers, looking about for the source of their discomforts, not unnaturally fixed upon the railroads.
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While no one railroad can completely duplicate another line, two or more may compete at particular points.
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The panic of 1837, the contest of the United States Bank with President Jackson, its defeat, and its subsequent failure as a state bank, the consequent distress in local financial circles--all conspired to shift the monetary center of the country to New York.
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The Erie Railroad system was foreshadowed in the time of Queen Anne, when the Colony of New York appropriated the sum of five hundred dollars to John Smith and other persons for the purpose of constructing a public road connecting the port of New York with the West in the vicinity of the Great Lakes.
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Quotations 71 to
80 of 99
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