south the Santa Fe, and the Southern Pacific. All but the Great Northern of James J. Hill relied on land grants. The financial stories were often complex. For example, the Northern Pacific received its major land grant in 1864. Financier Jay Cooke (1821–1905) was in charge until 1873 when he went bankrupt. Federal courts, however, kept bankrupt railroads in operation. In 1881 Henry Villard (1835–1900) took over and finally completed the line to Seattle. But the line went bankrupt in the Panic of 1893 and Hill took it over. He then merged several lines with financing from J.P. Morgan, but President Theodore Roosevelt broke them up in 1904. In the first year of operation, 1869–70, 150,000 passengers made the long trip. Settlers were encouraged with promotions to come West on free scouting trips to buy railroad land on easy terms spread over several years. The railroads had "Immigration Bureaus" which advertised package low-cost deals including passage and land on easy terms for farmers in Germany and Scandinavia. The prairies, they were promised, did not mean backbreaking toil because "settling on the prairie which is ready for the plow is different from plunging into a region covered with timber". The settlers were customers of the railroads, shipping their crops and cattle out, and bringing in manufactured products. All manufacturers benefited from the lower costs of transportation and the much larger radius of business. White concludes with a mixed verdict. The transcontinentals did open up the West to settlement, brought in many thousands of high-tech, highly paid workers and managers, created thousands of towns and cities, oriented the nation onto an east–west axis, and proved highly valuable for the nation as a whole. On the other hand, too many were built, and they were built too far ahead of actual demand. The result was a bubble that left heavy losses to investors and led to poor management practices. By contrast, as White notes, the lines in the Midwest and East supported by a very large population base, fostered farming, industry, and mining while generating steady profits and receiving few government benefits. Migration after the Civil War After the Civil War, many from the East Coast and Europe were lured west by reports from relatives and by extensive advertising campaigns promising "the Best Prairie Lands", "Low Prices", "Large Discounts For Cash", and "Better Terms Than Ever!". The new railroads provided the opportunity for