Some Economic Issues Relating to Railroad Subsidies and the Evaluation of Land Grants

Stanley L. Engerman

The Journal of Economic History, 1972, vol. 32, issue 2, 443-463

Abstract: The federal policy of granting land in aid of railroad construction in the mid-nineteenth century has been the focus of many heated discussions. Both praised and attacked by contemporaries, it has remained a lively issue in the pages of history books and in journal articles. Several “land-grant legends” have developed, referring to different problems in the evaluation of these measures. At issue have been the question of the justification for land grants, the value of the benefits provided the railroads, and the determination of whether the government aid did provide net benefits to society as a whole. While the “land-grant legend” has been frequently buried, it has invariably been resurrected in one guise or another. In large measure this state of affairs has been due to the failure to specify fully the problems under discussion, and to approach systematically their resolution.

Date: 1972
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