The first transcontinental railroad is completed in…

The first transcontinental railroad is completed in the United States in 1869.

This development reduces passenger and freight traffic across the isthmus and diminishes the amount of gold and silver shipped east.

During the height of the gold rush, however, from 1855 to 1858, only one-tenth of the ordinary commercial freight was destined for or originated in California.

The balance concerned trade of the North Americans with Europe and Asia.

The railroad company, because of its exceptionally high return on a capitalization that never exceeded US$7 million, will pay a total of nearly US$38 million in dividends between 1853 and 1905.

Panama receives US$25,000 from Colombia's annuity and benefits from transient trade and some inflow of capital.