The annual federal subsidy of $385,000, which its organizers and major investors first believed was sufficient to assure profitability, appeared seriously inadequate.

Moody's says in 1962 the operating revenue of $3.9 million included $2.2 million federal subsidy.

The federal subsidy was approximately $800 million of the $1.02 billion used to fund the line.

The fixed price of $1 per ounce was above the market rate and acted as a federal subsidy to the silver mining industry.

Making things more complicated, the federal subsidies would be mixed in with contributions from individuals and employers.