Editing First transcontinental railroad (section)

===Federal financing===
To finance the project, the act authorized the federal government to issue 30-year U.S. [[government bond]]s (at 6% interest). The railroad companies were paid $16,000 per mile (approximately ${{formatnum:{{inflation|US|16000|1861|r=-3}}}} per mile today) for track laid on a level grade, $32,000 per mile (about ${{formatnum:{{inflation|US|32000|1861|r=-3}}}} per mile today) for track laid in foothills, and $48,000 per mile (or about ${{formatnum:{{inflation|US|48000|1861|r=-3}}}} per mile today) for track laid in mountains. The two railroad companies sold similar amounts of company-backed bonds and stock.<ref name="klein">{{cite web|last1=Klein|first1=Maury|title=Financing the Transcontinental Railroad|url=https://www.gilderlehrman.org/history-by-era/development-west/essays/financing-transcontinental-railroad|publisher=The Gilder Lehrman Institute of American History|access-date=4 October 2016|location=New York City, New York}}</ref>