Is this Nova Scotia? I ask because I've often wondered over Stan Rogers' song "Guysborough Train" which seems to be about a planned but never completed railroad line.
I believe your interpretation is the generally accepted one. Stan was from Guysborough and as I understand it, the rail line was started, quite a lot of progress made, and then never finished so there was a lot of displeasure from the locals at the constant reminders of the failure of the government to make good on their promise to deliver the railroad.