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Updated: May 17, 2025
During the four years following the completion of the transcontinental line, 24,000 miles of new railroad were constructed, much of which was built into the wilderness ahead of settlement. So great an expansion, coming at a time when immense stretches of new land were being opened and industry being developed on a large scale, could hardly fail to result in over-speculation.
Although the report was laid on the table, it nevertheless represented the dominant opinion then prevalent in Iowa. Our pioneer forefathers believed that the negroes were men entitled to freedom and civil liberty. When the delegates were elected to the Convention of 1844 the people of the Territory were still suffering from the effects of over-speculation, panic, and general economic depression.
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