Vanderbilt Cornelius Essay

This essay has a total of 425 words and 4 pages.

Vanderbilt Cornelius



Cornelius Vanderbilt

Vanderbilt was born to a poor family and quit school at the age of 11 to work for his

Father who was a boater. When he turned 16 he persuaded his mother to give him a $100

dollar loan for a boat to start his business. He opened a transport and freight service

Between New York and Staten Island for eighteen cents a trip. He repaid the loan with an

$1,000 dollars. Vanderbilt later received a government contract to supply the forts around

New York. Large profits allowed him to build a schooner and two other vessels for trade.

Vanderbilt got his name from being the “commander” of the biggest vessel. By 1817 he

possessed $9,000 dollars. Vanderbilt then sold his interests and turned his attention to

steamboats in 1818. He operated a ferry between New Brunswick, New Jersey, and New

York City. He charged his customers a dollar while others charged four for the same trip.

After a court decision Vanderbilt received most of the shipping business along the

Hudson River. In 1829 Vanderbilt went out on his own and entered the competitive

service between New York and Peekskill. He cut rates so low the competition paid him

to move elsewhere. He then opened service to Long Island Sound, Providence, Boston,

and points in Connecticut. He offered the passengers not only comfort but often luxury.

By the 1840’s Vanderbilt was running more than 100 steamboats and his company had

more employees than any other company in the United States. By the time he was forty

His wealth was more than $500,000.During the gold rush of 1849 the basic route was by
Boat to Panama, by land across the isthmus, and by steamship to the Pacific Coast. He

offered a route overland, across Nigeria that saved travelers 600 miles and cut the price

Continues for 2 more pages >>




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