Why Did Railroads Become the Key American Industry in the Nineteenth

question 23

Short Answer

Why did railroads become the key American industry in the nineteenth century?

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Definitions:

Banking Services

Various financial services provided by banks, including loans, deposits, money transfers, and account management.

Money Orders

A financial instrument issued by a bank or postal service that allows the person named on the order to receive a specified amount of cash on demand, often used for payments when checks are not accepted.

Branch Banking

Banking operations in which a financial institution operates multiple branches, each providing banking services to customers.

Interest Rate Changes

Variations in the cost of borrowing money, often influenced by central banking policy to control inflation and economic growth.