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by WalterBright
34 days ago
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When the first transcontinental railroad was proposed and being built, it was beset with controversy and skepticism. But when it opened, it exceeded the wildest expectations of its most optimistic boosters. It transformed the country overnight. A similar thing happened with the first transatlantic cable. |
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So, yes, it transformed the country. That didn't necessarily benefit the stockholders and bondholders.