Transcontinental Railroad | Dancing with a Whirlwind | 2

American History Tellers

Wondery

Society & Culture, Kids & Family, History, Education For Kids

4.7 • 18.3K Ratings

🗓️ 20 November 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the summer of 1863, an unscrupulous businessman named Thomas Durant gained control of the Union Pacific Railroad, the company chartered by Congress to build the transcontinental railroad westward from the Missouri River. Durant quickly used his new position to siphon money into his own pockets.

2,000 miles to the west in California, on the other end of the rail line, the Central Pacific would turn to armies of immigrant workers to grade and lay track through unforgiving and dangerous terrain.

Order your copy of the new American History Tellers book, The Hidden History of the White House, for behind-the-scenes stories of some of the most dramatic events in American history—set right inside the house where it happened.

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Transcript

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0:00.0	Wondery Plus subscribers can binge new seasons of American history tellers early and ad-free right now.
0:06.6	Join Wondery Plus in the Wondery app or on Apple Podcasts.
0:27.3	Imagine it's August 1863 in New York City.
0:34.7	Sweat clings to your army uniform as you walk into the cool, shadowed interior of a downtown steakhouse.
0:38.7	You're a railroad executive and a major general in the Union Army,
0:42.5	and you've come here today to meet with an old colleague, Thomas Durant.
0:46.2	Durant is a Wall Street speculator and railroad promoter and is always working on some sort of scheme.
0:48.8	As your eyes adjusts to the dim lighting and the restaurant,
0:51.7	you spot Durant, waving at you from his table in the corner,
0:54.9	a bottle of Bordeaux already uncorked and two glasses filled. Uh, general, we have much to discuss.
1:02.8	Durant slides a wine glass toward you as you take a seat. Oh, good afternoon, Thomas. What are you
1:07.8	cooking up this time? Durant rakes his fingers through his scraggly beard,
1:12.5	his sharp eyes boring into you. An opportunity of a lifetime, a chance to invest in the Union Pacific.
1:18.8	The company needs 2,000 shares in order to be incorporated, and only then can we begin construction.
1:24.5	Oh, I don't know, Thomas, it's been more than the year since Congress chartered the company. From what I've heard, sales of the stock are lagging. Maybe with good reason.
1:32.9	The scale of the project alone is enough to deter any smart investor. Ah, but the bigger the scale,
1:38.3	the more money to be made, my friend, the Union Pacific is not just another railroad. It promises
1:43.2	to connect the nation from coast to coast.
1:45.4	The potential is limitless. Thomas, I'm sorry. It's a worthy project, to be sure. But that doesn't
1:51.5	mean it's a sound investment. This just isn't a good time, not with a war going on. Well, I have an
1:57.1	offer that I think will sway you. What would you say if I put up the cash for your first 10% payment?
2:02.7	The stock will be in your name, but I can personally guarantee that you'll be protected from any loss.
	...

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