Question

Can you please write a one page essay on the life and accomplishments of Cornelius Vanderbilt. Thank you!

Answer 1

He is a personality who has worked in railroads and Shipping. He died in the year 1877 and have accumulated huge wealth.

He was born in the year 1794 in New york. He began a passenger ferry business in New York harbor with one boat, then started his own steamship company, eventually controlling Hudson River traffic. He also provided the first rail service between New York and Chicago.

When he died in the year 1877, he was America's leading businessman and is credited with the present day shape of the City.

He worked primarily on two things:

1) Building a Shipping empire: Vanderbilt soon became known for his sharp business acumen. During the 1830s, he built profitable shipping lines in the New York region, undercutting competitors’ fares and offering top service. Competitors struggled and finally paid him to take his business elsewhere. He then shifted his operations to the Hudson River, going head to head against the Hudson River Steamboat Association, another monopoly. Capitalizing on the populist language of President Andrew Jackson, he named his service the "People’s Line," offering cheap fares for all. The Association bought him out for $100,000 and annual payments of $5,000.

2) Building a Railroad empire - In 1871, Cornelius Vanderbilt financed a monument to his empire: the Grand Central Depot. The terminal for the New York Central Railroad was constructed with features like elevated platforms, a glass balloon roof spanning all of the tracks and boarding areas only accessible to the passengers. At the city’s insistence, the tracks were submerged below street level to reduce noise and smoke.