Existing comment:
Cornelius Vanderbilt, 1794-1877
"The Commodore," as he was dubbed for his domination of waterborne transportation, Cornelius Vanderbilt created one of the first great fortunes-and business dynasties-in American history. He began in the rough-and-tumble world of the New York port and by 1829 had parlayed several small shipping ventures into a stake in the lucrative Hudson River trade. He branched out to dominate the New England trade and seaborne travel to San Francisco. He next moved into railroads, eventually gaining control of the industry from New York to western Canada. Vanderbilt was a ruthless monopolist, driving out his competitors through rate wars, political muscle, and hostile takeovers. But in organizing America's fragmented transportation system, he facilitated national expansion and created the infrastructure on which an expanding economy could build.
Nathaniel Jocelyn, 1846 |