http://mises.org/daily/6686/Crony-Capitalism-and-the-Transcontinental-Railroads

An anarcho-capitalist friend mentioned the transcontinental railroad as an example of a privately funded public infrastructure improvement. I told him it was publicly funded through bonds. Later, he pulls a complete 180 on me and tells me that it was actually a terrible venture. I don't know enough about the time period or rail to accept or refute the claim.