Question

What method of financing the railway does the bill propose

Answer 1

The Pacific Railroad Acts of 1862 were a series of acts of Congress that promoted the construction of a "transcontinental railroad" (the Pacific Railroad) in the United States through authorizing the issuance of government bonds and the grants of land to railroad companies. The War Department under then Secretary of War Jefferson Davis was authorized by the Congress in 1853 to conduct surveys of five different potential transcontinental routes from the Mississippi ranging from north to south and submitted a massive twelve volume report to Congress with the results in early 1855. However, no route or bill could be agreed upon and passed authorizing the Government's financial support and land grants until the secession of the southern states in 1861 removed their opposition to a central route.