Dissertation

William Jackson Palmer, Foreign Investors, and the Building of the Denver & Rio Grande Railroad, 1870-1890

Schultz, Kelly

2024

Overview

In 1870, William Jackson Palmer founded the Denver & Rio Grande Railroad with the ambitious goal of constructing a line from Denver to Mexico. While Palmer had extensive engineering and business experience to draw on, he lacked capital. Up to this point, transcontinental railroads had relied on government funding, however, Palmer made the fateful decision to rely on private financing of investors from England, Holland, and elsewhere. This thesis explores the consequences of Palmer’s approach to funding the Denver & Rio Grande. On the one hand, Palmer’s approach allowed him to get his railroad off the ground quickly when the government was starting to curb support and American investors had become hesitant. Palmer’s approach allowed him to have the freedom to be ambitious and attempt to construct a line to Mexico. On the other hand, Palmer’s approach led to mismanagement, lack of funding, overextensions, and persistent construction stoppages. Palmer’s reliance on foreign investors allowed for Colorado to significantly change with the establishment of manufacturing in the region, and with his railroad. However, Palmer ultimately fell short of his main goal and would lose control of his railroad.

• Publisher: ProQuest Dissertations & Theses
• Subject: American history / Economics / Finance / History / Public administration
• ISBN: 9798382581903