Slow Train to Paradise

Railroad historians have long been aware of Dutch investment in the building of American railroads, but how extensive was that investment? This book reveals for the first time that, because of the frequent failure of railroad companies to meet their debt obligations, several railroads were for a time completely in Dutch control. Though Dutch capitalists initially believed they had discovered a shortcut to El Dorado by buying American railroad securities, it turned out that only long-term investment brought financial paradise within their reach. This book is a complete history of Dutch investment in American railroads up to World War I, telling in detail not only why the Dutch invested in US railroads, but also in which companies and how much they invested. Introductory chapters survey the Dutch capital market from the late eighteenth century until World War I and extensive appendices provide detailed information on individual Dutch brokers and their financial activities.