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Statements

Subject Item
dbr:Indiana_Mammoth_Internal_Improvement_Act
rdf:type
yago:Law108441203 yago:Group100031264 yago:Abstraction100002137 yago:Collection107951464 yago:Legislation106535222 yago:CivilLaw108453464
rdfs:label
Indiana Mammoth Internal Improvement Act
rdfs:comment
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.
foaf:depiction
n7:Noah_Noble_Portrait.jpg n7:Jameswhitcombindiana.jpg n7:Mammoth_Improvenment_Act_Projects.jpg n7:Wabash_and_Erie_Canal_(Delphi).png
dcterms:subject
dbc:Indiana_General_Assembly dbc:1836_in_Indiana dbc:Legal_history_of_Indiana dbc:Canals_in_Indiana dbc:1836_in_law
dbo:wikiPageID
19714226
dbo:wikiPageRevisionID
1080994317
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dbo:wikiPageExternalLink
n4:indianamagazine01librgoog%7Caccess-date=2008-10-11 n12:books%3Fid=uyI1AAAAIAAJ%7Cpublisher=W.K. n12:books%3Fid=GmcPryCCxFIC&%7Cvolume=V.I
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dbo:thumbnail
n7:Mammoth_Improvenment_Act_Projects.jpg?width=300
dbp:caption
A map showing the extent of the projects along with the portions that were not completed by the state
dbp:dateSigned
1836
dbp:enactedBy
dbr:Governor_of_Indiana dbr:Noah_Noble
dbp:imagesize
350
dbp:shortTitle
Mammoth Internal Improvement Act
dbo:abstract
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 the interest payments, 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% reduction in the debt. Of the eight projects in the measure, none were completed by the state and only two were finished by the creditors who took them over. The act is considered one of the greatest debacles in the history of Indiana. Public blame was placed on the Whig party who had been in control of the General Assembly and the governorship during the passage of the act and the subsequent bankruptcy, though only nine members of both houses voted against the bill. After the scope of the financial disaster became apparent to the state, the Whig party gradually began to collapse in Indiana, leading to a period of Democratic control of the General Assembly that lasted until the middle of the American Civil War. Despite the dire immediate effects on the state's finances, the project ultimately fed a 400% increase in state land values, and provided numerous other direct and indirect benefits to Indiana. The Wabash and Erie Canal, which was partially funded by the act, became the longest canal in North America and remained in operation until rendered obsolete by the railroads in the 1880s.
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wikipedia-en:Indiana_Mammoth_Internal_Improvement_Act?oldid=1080994317&ns=0
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23420
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wikipedia-en:Indiana_Mammoth_Internal_Improvement_Act