Greenville and Columbia Railroad Co. - Parially Issued - 1875 dated $500 South Carolina Railway Bond

Unissued $500 Bond printed by Continental Bank Note Co. New York. 40 coupons at right of bond.

The Greenville and Columbia Railroad, established in 1845, was the inaugural railroad to traverse the South Carolina upcountry, playing a pivotal role in the region’s development. Construction progressed steadily, aided by local leader Vardry McBee, whose son surveyed the route and whose sawmills and quarries provided materials. Despite initial route disagreements, the railroad’s construction was expedited. By November 1853, the tracks reached Greenville, significantly reducing travel time to Columbia and Charleston from two weeks to less than eleven hours to Columbia alone. This development catalyzed industrial growth in the towns along its route. Before the Civil War, the railroad expanded to include branches to other upstate towns such as Anderson and Abbeville. By 1859, additional feeder lines to Laurens and Spartanburg had also been established.

The railroad faced immense damage during the Civil War. In early 1865, federal troops destroyed its offices and depot in Columbia, destroyed several locomotives, and ripped up twelve miles of track. A subsequent flood in 1866 washed out an additional forty miles of track, leaving operations suspended until September of that year. During Reconstruction, the company struggled financially and fell victim to a political “Railroad Ring” embezzlement scheme. This led to substantial state financial losses and ultimately resulted in a constitutional ban on public investment in private stock in South Carolina. In 1880, the company was sold under foreclosure and reorganized as the Columbia and Greenville Railroad. Later, it was leased to the Richmond and Danville Railroad. By 1894, the line had been incorporated into the Southern Railway system, marking the end of its independent existence.