Usage of the terms railroad and railway

The terms railroad and railway generally describe the same thing, a guided means of land transport, designed to be used by trains, for transporting passengers and freight. Etymologically both words derive from Old English; a road being something one rides along and way deriving from a Germanic base meaning move, journey, carry. Both words were first recorded in use at Broseley in Shropshire.
Predominant usage
In the United Kingdom, where motorised rail transport was invented, the term railroad, also spelled rail road or rail-road, was often used in the early days of the railways, but by about the 1850s railway had become the preferred term, with railroad becoming disused. The use of railway then spread to the British Empire, where it became the preferred term throughout the British Commonwealth.
In Canada the word railroad is used interchangeably with railway - for instance, Canadian Railroad Trilogy by Canadian songwriter Gordon Lightfoot describes the building of the Canadian Pacific Railway. Despite that, the term railway is almost invariably used in the official names of Canadian railways (e.g. Canadian National Railway and Canadian Pacific Railway).
In Australia, although railway is the commonly used term, both railway and railroad are used in the names of railways - for instance Great Southern Railway as compared to the Australian Railroad Group (possibly deriving its name due to US ownership/investment). However, many names have been shortened to use only the root word rail - as in the case of Queensland Rail, which used to be Queensland Railways.
In Hong Kong, a former British territory that still uses English as an official language nowadays, the word railroad is almost never used. Meanwhile, the word railway is very commonly used, as in the and the . The word railway is often shortened into rail, as in the and the .
U.S. practice
Historically, in the United States of America the term railroad, especially when used in a company name, implies a conventional rail system and railway implies a street railway (tramway), also known as a streetcar or light rail line. There are, however, quite a number of exceptions. In fact, many companies change from one term to the other when they re-incorporate, possibly to distinguish between the old and new companies (example: Seaboard Air Line Railroad).
The term railroad is used almost exclusively in the U.S. to describe conventional rail transport systems that are part of the national rail network, which until the mid-20th century were often described as steam railroads. These systems now operate diesel or electric locomotives hauling passenger or freight cars, and self-propelled passenger multiple units.
The alternative form of rail road as two words primarily reflects early practice, but several roads retain this form, notably the Long Island Rail Road, the oldest railroad in the U.S. still operating under its original name.
Though the use of railroad is prime in U.S. practice as described above, there are notable exceptions. Earlier railroads that were British influenced in management, engineering and/or construction had a greater tendency to use the term railway, as in Chicago and North Western Railway (C&NW), which also using the British practice of left-hand running (although that was not inspired by British operations). Railroad companies in bankruptcy sometimes retained their name in reorganization but changed railroad to railway or vice versa; e.g., Staten Island Rapid Transit Railroad changed to Staten Island Rapid Transit Railway. Some U.S. railroads are "railways" for no obvious reason, such as Vermont Railway and Kansas City Southern Railway. The BNSF Railway was apparently named in part after one of its predecessors the Atchison, Topeka and Santa Fe Railway. The Norfolk Southern Railway is also named in part after one of its predecessors, the Southern Railway.
Urban and interurban electric railways in the U.S. using single cars or short trains have more commonly used the term railway in their names than regular railroads. Examples include the Pacific Electric Railway, San Francisco Municipal Railway, , Boston Street Railway Company and Chicago Railways. Here, too, there are exceptions. The first street railway company in Brooklyn, New York City to operate an electric trolley line was the Coney Island & Brooklyn Railroad.
A road
In the context of railways or railroads, a road is a single track, which may be part of a multi-track system or an isolated line.

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