In the 1830s, as the Trans Appalachian economy began to stir and Europe's Industrial Revolution reached its peak, concerned Midwesterners saw opportunities and risks. Success of the Erie Canal as a link to East Coast economic markets whetted the appetites of visionaries and entrepreneurs, who saw huge opportunities. Amid this perfect storm of technology, enterprise, finance, location, and timing arose some of the earliest railroads in the Midwest.

By the late 1840s three such vision-driven railroad ventures had sprung to life. Two small railroads carrying goods to Midwestern...