Great Fortunes from Railroads

"Great Fortunes from Railroads" by Gustavus Myers is a chronicle of immense wealth obtained by controlling railway systems, revealing how riches, government actions, and laws were all connected to enable this financial dominance. It shines a light on the Vanderbilt and Gould families showcasing how their affluence began via industrial progress, corruption in politics, and distinct social divides. Myers starts by painting a picture of the American economy as railroads evolved, contrasting the gradual growth of factory owners with the rapid accumulation of riches by railroad tycoons. The narrative emphasizes the questionable tactics used to grab public lands and gain legal advantages over those with less economic opportunity. Myers contends that the legal standards were often twisted to favor an elite group, allowing them to dominate resources while sidelining the common people. This introduction not only sets the stage for the historical story of railroad fortunes, but also criticizes the societal frameworks that led to capitalism, letting it misuse laborers and resources, hurting the working population.