Re:Adam Smith and Inequality (2014)
by WalterBright on Monday September 13, 2021 @04:57PM
(#28516781)
That line was indeed funded by Congress. But it was a failure, eliciting zero interest from the public, and little to no use. After 3 months the line cost $1859.05 to run yet revenue was $193.56.
The next line was funded when Morse partnered with Amos Kendall forming the Magnetic Telegraph Company. It built lines from New York to Philadelphia, Boston and Buffalo. Receipts for the first for days on the NY to Philadelphia run was $100. And the telegraph was off and running.
2 years later there was 2,000 miles if wire, and another two years added another 10,000 miles.
The government line proved to be irrelevant, not crucial.
The next line was funded when Morse partnered with Amos Kendall forming the Magnetic Telegraph Company. It built lines from New York to Philadelphia, Boston and Buffalo. Receipts for the first for days on the NY to Philadelphia run was $100. And the telegraph was off and running.
2 years later there was 2,000 miles if wire, and another two years added another 10,000 miles.
The government line proved to be irrelevant, not crucial.
See "The Victorian Internet" by Tom Standage