1867 UNION PACIFIC BROADSIDE.  11" x 3 1/2  Union Pacific Railroad Broadside soliciting their First Mortgage Bonds for the transcontinental Railroad. Though not dated, probably mid 1867 , as there is mention of the progress as the 1st of January, 1867, and details the estimated progress to September. Produced on an onion skin like paper,  A scarce item regarding the transcontinental RR. Overall Fine condition, some glue streaks in the back and migrating to the front, most noticeably on the left side.  (Tr.517); $425.

The Pacific Railroad Act provided subsidy bonds and land grants to help the railroad companies acquire the money they would need. The Pacific Railroad Act of 1862 authorized Union Pacific and the Central Pacific to receive government bonds for every mile of track they laid. The bonds were not a payment to the railroad, but more like a low interest loan. They had to be repaid at maturity, which was in thirty years, at a rate of six percent interest. The bonds were to be issued as follows: $16,000 for every mile of track laid on flatlands, $32,000 for every mile of track laid in the foothills, and $48,000 for each mile of track laid in mountainous terrain. Initially, the bonds were of little help because the companies needed money to pay for the labor and supplies necessary to begin construction. Since the government had no money to pay the railroad companies, they instead gave ten square miles of land for each mile of track that was completed. The land grants were to be distributed in a checkerboard fashion. The intent of the land grants was to give the railroads an asset they could turn into cash to help them finance construction. It soon was apparent that the subsidy bonds and land grants were not enough to finance such a monumental project. Congress passed the Pacific Railroad Act of 1864 with the intent of providing further means whereby the two companies might build capital. The 1864 act doubled the land grants to allow a total of twenty square miles (every other section for twenty miles on each side of the track) for each mile of track laid. The act continued the practice of subsidy bonds, and allowed each company to issue its own bonds to match those of the government, effectively doubling the amount of money that could be raised.

1860 PACIFIC RAILROAD REPORTS AND MAP. Lot of four Pacific Railroad Congressional reports, consisting of 72pp, plus fold out map. String tied wraps, 9 1/2" x 6".
April 13, 1860 Report of Mr. Curtis, from the select committee on the Pacific Railroad, pp 28.
May 9, 1860 Report of Mr. Hamilton Curtis, from the select committee on the Pacific Railroad pp 29-56pp. Laid in , between pp32-32, is the very scarce folded map, 10 1/2" x 16 1/2", of the Practical Rail Road Routes from the Mississippi to the Pacific Ocean .
April 16, 1860 Report of Mr. Aldrich, from the select committee on the Pacific Railroad, pp 57-65.
June 14, 1860 Report of Mr. Curtis, from the select committee on the Pacific Railroad, pp 66-72.

Overall good condition, reports are no longer tied together, some pages have minor edge chipping, back page is soiled and worn. Map is in Good condition. (Tr. 754); $pending.