This map reflects the railroads constructed across the United States. This is referred to as Railroad Land Grants. So, the more track they built, the more land and bonds they would receive. The reason it was a race is that each company would receive 12,800 acres of land and $48,000 in government bonds for each mile of track they built. The two railroads covered a combined 1,912 miles and met on in Promontory, Utah. Pacific Railroad started near Sacramento, California and Union Pacific started at the end of an eastern state’s existing track in Council Bluffs, Iowa. Over the next six years, the two companies would race toward each other. This Pacific Railroad Act chartered the Central Pacific and the Union Pacific Railroad Companies with the task of building a railroad that would connect the east and west coasts. In 1862, President Abraham Lincoln presided over the passage of the Pacific Railroad Act.
However, the acquisition of California and other western states following the 1848 Mexico Cession opened the door for dreams to connect the east coast to the west coast. Railroads had been successfully constructed and utilized in the eastern states. The map below reflects the territorial acquisitions of lands that now make up the United States. But the way UPRC became a mineral owner is best explained starting in the early 1800s. A gentleman in the room from Cheyenne, Wyoming, said he was familiar with the Union Pacific Railroad Company (UPRC) and wanted to know if they owned minerals. And a couple of examples of private mineral ownership would be individuals, companies, universities, and railroads. In a recent oil and gas leasing class, we discussed different types of oil and gas mineral ownership in the United States, such as Federal, State, Tribal, and private ownership.
And we know a few railroad companies that would agree. Adam Smith is credited with the quote “Land is the Basis of all Wealth”.
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