Quotes of John Moody

“ The financial condition of the Erie at this time manifested the beginning of that general policy of improvidence and recklessness which afterward, for nearly a generation and a half, made the company a speculative football in some of the most disreputable games of Wall Street stock-jobbers. ”

- John Moody

“ The railroad is sprung from the application of two fundamental ideas - one the use of a mechanical means of developing speed, the other the use of a smooth running surface to diminish friction. ”

- John Moody

“ People began to understand that with the acquisition of California the nation had obtained practically half a continent, of which the future possibilities were almost unlimited, so far as the development of natural resources and the genera production of wealth were concerned. ”

- John Moody

“ Horses and mules, and even sail cars, made more rapid progress than did the earliest locomotive. ”

- John Moody

“ Farmers, merchants, manufacturers, and the traveling public have all had their troubles with the transportation lines, and the difficulties to which these struggles have given rise have produced that problem which is even now apparently far from solution. ”

- John Moody

“ A minority investment, even though it be as low as ten or twenty per cent, usually constitutes a dominating influence if held by a single interest, for in most cases the majority of the shares will be owned in small blocks by thousands of investors who never combine for a definite, practical purpose. ”

- John Moody

“ 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. ”

- John Moody

“ 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. ”

- John Moody

“ As a result of these new conditions, the States, cities, and towns were welded together, and population and prosperity increased rapidly in those inland sections which had formerly languished because they had no means of easy and rapid communication. ”

- John Moody

“ To this end, the Pennsylvania Railroad was incorporated on April 13, 1846, with a franchise permitting the construction of a railroad across the State from Harrisburg to Pittsburgh. ”

- John Moody

“ 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. ”

- John Moody

“ The railroad, they said, was a natural monopoly; no private citizen could hope ever to own one; it was thus a kind of monster which, if encouraged, would override all popular rights. ”

- John Moody

“ As a result of these new conditions, the States, cities, and towns were welded together, and population and prosperity increased rapidly in those inland sections which had formerly languished because they had no means of easy and rapid communication. ”

- John Moody

“ The Santa Fe Route, or the Atchison, Topeka and Santa Fe Railroad, which has in modern times developed into one of the largest and most profitable railroad systems in this country, was projected long before the idea of a transcontinental line to the Pacific coast had taken full possession of men's minds. ”

- John Moody

“ In 1862, when the charter was granted by the United States Government for the construction of a railroad from Omaha to the Pacific coast, the only States west of the Mississippi Valley in which any railroad construction of importance existed were Iowa and Missouri. ”

- John Moody

“ Many of the railroad evils were inherent in the situation; they were explained by the fact that both managers and public were dealing with a new agency whose laws they did not completely understand. ”

- John Moody

“ When business revived in the closing years of the nineteenth century, the history of American railroads began a new chapter. ”

- John Moody

“ Many of the railroad evils were inherent in the situation; they were explained by the fact that both managers and public were dealing with a new agency whose laws they did not completely understand. ”

- John Moody

“ The ultimate plan, which proved too visionary, was to consolidate under one control a vast network of lines extending all over the continent. ”

- John Moody

“ A minority investment, even though it be as low as ten or twenty per cent, usually constitutes a dominating influence if held by a single interest, for in most cases the majority of the shares will be owned in small blocks by thousands of investors who never combine for a definite, practical purpose. ”

- John Moody

“ 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. ”

- John Moody

“ It had opened up millions of acres to cultivation, given homesteads to millions of people, many of whom were immigrants from Europe, developed mineral lands of incalculable value, created several new great States, and made the American nation a unified whole. ”

- John Moody

“ It had opened up millions of acres to cultivation, given homesteads to millions of people, many of whom were immigrants from Europe, developed mineral lands of incalculable value, created several new great States, and made the American nation a unified whole. ”

- John Moody

“ Perhaps more than any other one person, Cassatt foresaw the approach of the day when New York City as a commercial center would outstrip both in density of population and in amount of wealth all the other cities of the world. ”

- John Moody

“ Even the New York Central system in 1866 was practically a single-track road; and the Commodore could not claim to any particular superiority over his neighbors and rivals in this particular. ”

- John Moody

“ After the opening of the Erie Canal in 1825, the Legislature of New York directed a survey of a state road which was to be constructed at public expense through the southern tier of counties from the Hudson River to Lake Erie. ”

- John Moody

“ 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. ”

- John Moody

“ This growing sentiment finally persuaded the Legislature to charter in April, 1832, the New York and Erie Railroad Company, and to give it authority to construct a line and to regulate its own charges for transportation. ”

- John Moody

“ After the opening of the Erie Canal in 1825, the Legislature of New York directed a survey of a state road which was to be constructed at public expense through the southern tier of counties from the Hudson River to Lake Erie. ”

- John Moody

“ Canals might indeed linger for a time as feeders… but every one now realized that the railroad was to be the great agency which would give plausibility to the industrial organization of the United States and develop its great territory. ”

- John Moody
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