Indiana Mammoth Internal Improvement Act
The Indiana Mammoth Internal Improvement Act was a law passed by the Indiana General Assembly and signed by Whig Governor Noah Noble in 1836 that greatly expanded the state's program of internal improvements. It added $10 million to spending and funded several projects, including turnpikes, canals, and later, railroads. The following year the state economy was adversely affected by the Panic of 1837 and the overall project ended in a near total disaster for the state, which narrowly avoided total bankruptcy from the debt. By 1841, the government could no longer make even the interest payment, and all the projects, except the largest canal, were handed over to the state's London creditors in exchange for a 50% reduction in debt. Again in 1846, the last project was handed over for another 50
primaryTopic
Indiana Mammoth Internal Improvement Act
The Indiana Mammoth Internal Improvement Act was a law passed by the Indiana General Assembly and signed by Whig Governor Noah Noble in 1836 that greatly expanded the state's program of internal improvements. It added $10 million to spending and funded several projects, including turnpikes, canals, and later, railroads. The following year the state economy was adversely affected by the Panic of 1837 and the overall project ended in a near total disaster for the state, which narrowly avoided total bankruptcy from the debt. By 1841, the government could no longer make even the interest payment, and all the projects, except the largest canal, were handed over to the state's London creditors in exchange for a 50% reduction in debt. Again in 1846, the last project was handed over for another 50
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The Indiana Mammoth Internal I ...... by the railroads in the 1880s.
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Wikipage page ID
19,714,226
Wikipage revision ID
744,920,039
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Map showing the extent of the ...... ere not completed by the state
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Mammoth Internal Improvement Act
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The Indiana Mammoth Internal I ...... was handed over for another 50
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Indiana Mammoth Internal Improvement Act
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