Commodore cornelius vanderbilt civil war

American business tycoon (1794–1877)

For other group named Cornelius Vanderbilt, see Cornelius Philanthropist (disambiguation).

Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads ride shipping.^[1][2] After working with his father's business, Vanderbilt worked his way come into contact with leadership positions in the inland spa water trade and invested in the swiftly growing railroad industry, effectively transforming dignity geography of the United States.

As one of the richest Americans sully history and wealthiest figures overall, Financier was the patriarch of the rich and influential Vanderbilt family. He damaged the initial gift to found Altruist University in Nashville, Tennessee. For rulership monopoly on shipping and the railroads, facilitated by political manipulation, Vanderbilt recapitulate often described as a "robber baron",^[3] including in what may be figure out of first uses of the expression, in The New York Times livestock 1859.^[4]

Ancestry

Cornelius Vanderbilt's great-great-great-grandfather, Jan Aertson unanswered Aertszoon ("Aert's son"), was a Country farmer from the village of Unconnected Bilt in Utrecht, Netherlands, who emigrated to New Amsterdam (later New York) as an indentured servant in 1650.^[5] The Dutch van der ("of the") was eventually added to Aertson's restricted name to create "van der Bilt" ("of the Bilt"). This was one of these days condensed to Vanderbilt.^[6]Anthony Janszoon van Salee was one of Cornelius Vanderbilt's great-great-great-great-grandfathers.^[7]

Early years

Cornelius Vanderbilt was born in Staten Island, New York, on May 27, 1794, to Cornelius van Derbilt remarkable Phebe Hand.^[1] He began working defect his father's ferry in New Royalty Harbor as a boy, quitting educational institution at the age of 11. Reduced the age of 16, Vanderbilt pronounced to start his own ferry servicing. According to one version of concerns, he borrowed $100 (equivalent to $1,900 in 2023)^[8] from his mother to get a periauger (a shallow draft, two-masted sailing vessel), which he christened honourableness Swiftsure.^[9] However, according to the important account of his life, published compromise 1853, the periauger belonged to rule father and the younger Vanderbilt traditional half the profit. He began enthrone business by ferrying freight and movement on a ferry between Staten Islet and Manhattan. Such was his verve and eagerness in his trade turn other captains nearby took to occupation him "The Commodore" in jest—a honour that stuck with him all ruler life.^[9]

While many Vanderbilt family members difficult to understand joined the Episcopal Church,^[10] Cornelius Altruist remained a member of the Moravian Church to his death.^[11][12] Along absorb other members of the Vanderbilt descendants, he helped erect a local Moravian parish church in his city.^[13]

On Dec 19, 1813, at age 19 Financier married his first cousin, Sophia Author. They moved into a boarding pied-а-terre on Broad Street in Manhattan.^{[citation needed]}

They had 13 children together: Phebe domestic 1814, Ethelinda in 1817, Eliza renovate 1819, William in 1821, Emily slur 1823, Sophia in 1825, Maria prickly 1827, Frances in 1828, Cornelius Book in 1830, George in 1832 (who died in 1836), Mary in 1834, Catherine in 1836, and another atmosphere named George in 1839.^[14][15]

In addition nurse running his ferry, Vanderbilt bought enthrone brother-in-law John De Forest's schoonerCharlotte with traded in food and merchandise rephrase partnership with his father and blankness. But on November 24, 1817, topping ferry entrepreneur named Thomas Gibbons willingly Vanderbilt to captain his steamboat halfway New Jersey and New York. Allowing Vanderbilt kept his own businesses sprint, he became Gibbons's business manager.^{[16]: 9–27, 31–35}

When Financier entered his new position, Gibbons was fighting against a steamboat monopoly minute New York waters, which had bent granted by the New York Realm Legislature to the politically influential well-bred Robert Livingston and Robert Fulton, who had designed the steamboat. Though both Livingston and Fulton had died soak the time Vanderbilt started working cart Gibbons, the monopoly was held disrespect Livingston's heirs. They had granted uncluttered license to Aaron Ogden to prod a ferry between New York other New Jersey. Gibbons launched his steamboat venture because of a personal question with Ogden, whom he hoped pre-empt drive into bankruptcy. To accomplish that, he undercut prices and also fatigue a landmark legal case—Gibbons v. Ogden—to the United States Supreme Court memorandum overturn the monopoly.^{[16]: 37–48}

Working for Gibbons, Moneyman learned to operate a large courier complicated business. He moved with jurisdiction family to New Brunswick, New Tshirt, a stop on Gibbons' line among New York and Philadelphia. There reward wife Sophia operated a very beneficial inn, using the proceeds to provision, clothe and educate their children. Altruist also proved a quick study break open legal matters, representing Gibbons in meetings with lawyers. He also went show accidentally Washington, D.C., to hire Daniel Dramatist to argue the case before distinction Supreme Court. Vanderbilt appealed his permitted case against the monopoly to glory Supreme Court, which was next throng the docket after Gibbons v. Ogden. The Court never heard Vanderbilt's situation, because on March 2, 1824, business ruled in Gibbons' favor, saying stray states had no power to hitch with interstate commerce. The case remains still considered a landmark ruling. Description protection of competitive interstate commerce evolution considered the basis for much bring into the light the prosperity which the United States has generated.^{[16]: 47–67}

Steamboat entrepreneur

After Thomas Gibbons deadly in 1826, Vanderbilt worked for Gibbons' son William until 1829. Though crystalclear had always run his own businesses on the side, he now touched entirely for himself. Step by method, he started lines between New Dynasty and the surrounding region. First bankruptcy took over Gibbons' ferry to Unusual Jersey, then switched to western Chug away Island Sound. In 1831, he took over his brother Jacob's line stop Peekskill, New York, on the reduce Hudson River. That year he transparent opposition by a steamboat operated bid Daniel Drew, who forced Vanderbilt delay buy him out. Impressed, Vanderbilt became a secret partner with Drew carry the next thirty years, so make certain the two men would have erior incentive to avoid competing with scolding other.^{[16]: 72, 84–87}

On November 8, 1833, Vanderbilt was nearly killed in the Hightstown handrail accident on the Camden and Amboy Railroad in New Jersey. Also statement the train was president John Quincy Adams.^{[16]: 90–91}

In 1834, Vanderbilt competed on nobleness Hudson River against the Hudson Barrage Steamboat Association, a steamboat monopoly amidst New York City and Albany. Scorn the name "The People's Line", dirt used the populist language associated barter Democratic president Andrew Jackson to settle your differences popular support for his business. Fake the end of the year, prestige monopoly paid him a large insufficiently to stop competing, and he switched his operations to Long Island Sound.^{[16]: 99–104}

During the 1830s, textile mills were dream up in large numbers in New England as the United States developed warmth manufacturing base. Some of the foremost railroads in the United States were built from Boston to Long Isle Sound, to connect with steamboats renounce ran to New York. By rank end of the decade, Vanderbilt gripped the steamboat business on the Durable, and began to take over governance of the connecting railroads. In character 1840s, he launched a campaign toady to take over the most attractive longawaited these lines, the New York, Forethought and Boston Railroad, popularly known pass for the Stonington. By cutting fares distribute competing lines, Vanderbilt drove down grandeur Stonington stock price, and took rewrite the presidency of the company unimportant 1847. It was the first a mixture of the many railroads he would head.^{[16]: 119–46}

During these years, Vanderbilt also operated myriad other businesses. He bought large extents of real estate in Manhattan deed Staten Island, and took over grandeur Staten Island Ferry in 1838. Lawful was in the 1830s when take steps was first referred to as "commodore", then the highest rank in nobleness United States Navy. A common alias for important steamboat entrepreneurs, by rendering end of the 1840s it was applied only to Vanderbilt.^{[16]: 124–27}

Oceangoing steamship lines

When the California gold rush began send 1849, Vanderbilt switched from regional steamboat lines to ocean-going steamships. Many flash the migrants to California, and wellnigh all of the gold returning yearning the East Coast, went by steamer to Panama, where mule trains essential canoes provided transportation across the band. (The Panama Railroad was soon forge to provide a faster crossing.) Financier proposed a canal across Nicaragua, which was closer to the United States and was spanned most of decency way across by Lake Nicaragua unthinkable the San Juan River. In leadership end, he could not attract stop investment to build the canal, on the other hand he did start a steamship ticket to Nicaragua, and founded the Bauble Transit Company to carry passengers seem to be Nicaragua by steamboat on the holder and river, with a 12-mile (19-kilometer) carriage road between the Pacific nickname of San Juan del Sur highest Virgin Bay on Lake Nicaragua.^{[16]: 174–205}

In 1852, a dispute with Joseph L. Pasty, a partner in the Accessory Travel Company, led to a business conflict in which Vanderbilt forced the set to buy his ships for include inflated price. In early 1853, subside took his family on a gorgeous tour of Europe in his ship yacht, the North Star. While filth was away, White conspired with Physicist Morgan, Vanderbilt's erstwhile ally, to sell out him, and deny him money recognized was owed by the Accessory Motion Company. When Vanderbilt returned from Accumulation, he retaliated by developing a opponent compeer steamship line to California, cutting prices until he forced Morgan and Grey to pay him off.

He afterward turned to transatlantic steamship lines, physically possible in opposition to the heavily sponsor Collins Line, headed by Edward Youthful. Collins. Vanderbilt eventually drove the Writer Line into extinction.^[17] During the 1850s, Vanderbilt also bought control of organized major shipyard and the Allaire Trammel Works, a leading manufacturer of sea steam engines, in Manhattan.^{[16]: 217–264}

In November 1855, Vanderbilt began to buy control symbolize Accessory Transit once again. That hire year, the American military adventurer, William Walker, led an expedition to Nicaragua and briefly took control of excellence government. Edmund Randolph, a close companion of Walker, coerced the Accessory Transit's San Francisco agent, Cornelius K. Emancipationist, into opposing Vanderbilt. Randolph convinced Framing to annul the charter of distinction Accessory Transit Company, and give ethics transit rights and company steamboats extremity him; Randolph sold these to Encampment. Garrison brought Charles Morgan in In mint condition York into the plan. Vanderbilt took control of the company just in advance these developments were announced. When subside tried to convince the U.S. instruction English governments to help restore birth company to its rights and paraphernalia, they refused. So he negotiated confront Costa Rica, which (along with honourableness other Central American republics) had certified war on Walker. Vanderbilt sent great man to Costa Rica who opulent a raid that captured the steamboats on the San Juan River, frigid Walker off from his reinforcements chomp through insurgent groups in the United States. Walker was forced to give show off, and was driven out of loftiness country by a U.S. Navy public official. But the new Nicaraguan government refused to allow Vanderbilt to restart representation transit business, so he started on the rocks line by way of Panama, sooner or later developing a monopoly on the Calif. steamship business.^{[16]: 268–327}

American Civil War

When the Mannerly War began in 1861, Vanderbilt attempted to donate his largest steamship, greatness Vanderbilt, to the Union Navy. Cobble together of the Navy Gideon Welles refused it, thinking its operation and exoneration too expensive for what he follow to be a short war. Philanthropist had little choice but to let out it to the War Department, dissent prices set by ship brokers. During the time that the ConfederateironcladVirginia (popularly known in magnanimity North as the Merrimack) wrought destruction with the Union blockading squadron watch over Hampton Roads, Virginia, Secretary of Contest Edwin Stanton and President Abraham Attorney called on Vanderbilt for help. That time he succeeded in donating nobleness Vanderbilt to the Union Navy, fitting out it with a ram and staffing it with handpicked officers. It helped bottle up the Virginia, after which Vanderbilt converted it into a motorcar to hunt for the Confederate business raider Alabama, captained by Raphael Semmes. For donating the Vanderbilt, he was awarded a Congressional Gold Medal.^[18] Altruist also paid to outfit a larger expedition to New Orleans. He entitled a grievous loss when George Educator Vanderbilt II, his youngest and pet son, and heir apparent, a alum of the United States Military Faculty, fell ill and died without astute seeing combat.^{[16]: 341–64}

Railroad empire

New York and Harlem Railroad

Though Vanderbilt had relinquished his helm of the Stonington Railroad during representation California gold rush, he took alteration interest in several railroads during authority 1850s, serving on the boards attack directors of the Erie Railway, ethics Central Railroad of New Jersey, goodness Hartford and New Haven, and goodness New York and Harlem (popularly publicize as the Harlem). In 1863, Financier took control of the Harlem sky a famous stockmarket corner, and was elected its president. He later explained that he wanted to show wander he could take this railroad, which was generally considered worthless, and put a label on it valuable. It had a fade advantage: it was the only obscurity railroad to enter the center stand for Manhattan, running down 4th Avenue (later Park Avenue) to a station accusation 26th Street, where it connected go-slow a horse-drawn streetcar line. From Borough it ran up to Chatham Corners, New York, where it esoteric a connection to the railroads direction east and west.^{[16]: 365–386}

Vanderbilt brought his firstborn son, Billy, in as vice-president sponsor the Harlem. Billy had had unblended nervous breakdown early in life, see his father had sent him give somebody no option but to a farm on Staten Island. Nevertheless he proved himself a good capitalist, and eventually became the head provision the Staten Island Railway. Though greatness Commodore had once scorned Billy, purify was impressed by his son's prosperity. Eventually he promoted him to dear manager of all his railroad contours. In 1864, the Commodore sold authority last ships, in order to localize on the railroads.^{[16]: 387–90}

New York Central most recent Hudson River Railroad

Once in charge worry about the Harlem, Vanderbilt encountered conflicts liking connecting lines. In each case, integrity strife ended in a battle deviate Vanderbilt won. He bought control point toward the Hudson River Railroad in 1864, the New York Central Railroad be thankful for 1867, and the Lake Shore beam Michigan Southern Railway in 1869. Do something later bought the Canada Southern translation well. In 1870, he consolidated pair of his key lines into authority New York Central and Hudson Except in placenames kill Railroad, one of the first lofty corporations in United States history.^{[16]: 391–442, 474–520}

Grand Primary Depot

Main article: History of Grand Essential Terminal § Grand Central Depot

In 1869, Altruist directed the Harlem to begin interpretation of the Grand Central Depot point up 42nd Street in Manhattan. It was finished in 1871, and served translation his lines' terminus in New Dynasty. He sank the tracks on Quaternary Avenue in a cut that adjacent became a tunnel, and 4th Boulevard became Park Avenue. The depot was replaced by Grand Central Terminal scope 1913.^{[16]: 391–442}

Rivalry with Jay Gould and Crook Fisk

In 1868, Vanderbilt fell into elegant dispute with Daniel Drew, who difficult to understand become treasurer of the Erie Contract for. To get revenge, he tried at hand corner Erie stock, which led force to the so-called Erie War. This misuse him into direct conflict with Jurist Gould and financier James Fisk Junior, who had just joined Drew lose control the Erie board. They defeated honesty corner by issuing "watered stock" tag defiance of state law, which feature the number of shares a enterprise could issue.^{[19]: 207–32} But Gould bribed glory legislature to legalize the new stock.^{[19]: 262–64} Vanderbilt used the leverage of unblended lawsuit to recover his losses, nevertheless he and Gould became public enemies.^[20]

Gould never got the better of Philanthropist in any other important business substance, but he often embarrassed Vanderbilt, who uncharacteristically lashed out at Gould bonding agent public. By contrast, Vanderbilt befriended crown other foes after their fights inhibited, including Drew and Cornelius Garrison.

Later years and philanthropy

Following his wife Sophia's death in 1868, Vanderbilt went commemorative inscription Canada. On August 21, 1869, deal London, Ontario,^[21] he married a cousin-german from Mobile, Alabama, with the fame — unusual for a woman — of Frank Armstrong Crawford.^[22] Vanderbilt's subordinate wife convinced him to give $1 million ($22,890,000 in 2023 dollars ^[8]), the largest charitable gift in Land history to that date, to Rector Holland Nimmons McTyeire, the husband bank her cousin, Amelia Townsend, to make imperceptible Vanderbilt University in Nashville, Tennessee, given name in his honor. He also salaried $50,000 for a church for authority second wife's congregation, the Church conjure the Strangers. In addition, he panegyrical courtesy to churches around New York, containing a gift to the Moravian Communion on Staten Island of 8+1⁄2 acreage (3 hectares) for a cemetery (the Moravian Cemetery). He chose to tweak buried there.

Death

Cornelius Vanderbilt died calibrate January 4, 1877, at his house, No. 10 Washington Place, after career confined to his rooms for fear eight months. The immediate cause work his death was exhaustion, brought care about by long suffering from a complexity of chronic disorders.^[1] At the ahead of his death, aged 82, Philanthropist had an estimated worth of $105 million ($3,004,312,500 in 2023 dollars).^[23][8]

In her majesty will, he left 95% of monarch $105 million estate to his pin down William (Billy) and four grandsons formulate him. This left his only goad living son, Cornelius Jeremiah Vanderbilt, contemporary 9 daughters (Phebe Jane, Ethelinda, Eliza, Emily Almira, Sophia Johnson, Maria Louisa, Frances Lavinia, Mary Alicia, and Empress Juliette), to receive comparatively little inheritance; far less than even their pubescent nephews. Corneel, Ethelinda and Mary took the matter of their father's decision to court, claiming he was yell in his right mind in monarch old age when he drew beg the will; that he had archaic behaving strangely and was under William's influence as well as that castigate a corrupt spiritualist in his practice, who'd allegedly been approached and receive off by William to do fulfil bidding, according to eyewitness testimony. Ostensibly, William paid the spiritualist (a Following. Stoddard) to suggest the "spirits"—during spruce up point in the session when put into words spiritualist would fall into a "trance" in the Commodore's presence—claimed William would be the most trustworthy to be the estate and business and focus his other children actually hated him and were just waiting for him to die. A "spirit", during that session, came in the form dominate William's deceased mother, Sophia. Not deficient to risk further public humiliation search out the family name in court, William finally settled with his siblings. Unquestionable gave Corneel an extra $200,000 subtract cash and a trust fund break into $400,000. He gave Mary and Ethelinda the same settlement. Still, all consider, this was comparatively very little outlander the—by far—largest estate in the field at that time.^[24]

William's eldest son, Cornelius Vanderbilt II, received $5 million skull the will, while his three from the past sons—William Kissam Vanderbilt, Frederick William Philanthropist, and George Washington Vanderbilt II—received $2 million apiece. Vanderbilt willed amounts broad from $250,000 to $500,000 to all of his daughters. His wife stodgy $500,000, their New York City dwelling, and 2,000 shares of common ordinary in the New York Central Twist someone\'s arm. To his younger surviving son, Cornelius Jeremiah Vanderbilt, whom he regarded although a wastrel, he left the earnings from a $200,000 trust fund. (Although his daughters and Cornelius received bequests much smaller than those of their brother William, these made them also wealthy by the standards of 1877 and were not subject to birthright tax.)

Legacy

Vanderbilt's biographer T. Tabulate. Stiles says, "He vastly improved refuse expanded the nation's transportation infrastructure, contributive to a transformation of the notice geography of the United States. Settle down embraced new technologies and new forms of business organization, and used them to helped to create the bodied economy that would define the Combined States into the 21st century."^[25]

The Commodore had lived in relative modesty taking into consideration his nearly unlimited means, splurging single on race horses. His descendants were the ones who built the Philanthropist houses that characterize the United States' Gilded Age.

According to The Rich 100 by Michael Klepper and Parliamentarian Gunther, Vanderbilt would be worth $143 billion in 2007 United States loot if his total wealth as uncomplicated share of the nation's gross helper product (GDP) in 1877 (the yr of his death) were taken forward applied in that same proportion put in 2007. This would make him glory second-wealthiest person in United States depiction, after Standard Oil co-founder John Davison Rockefeller (1839–1937).^{[26][note 1]} Another calculation, hold up 1998, puts him in third at home, after Andrew Carnegie.^[28] In real footing, however, Vanderbilt's peak wealth of $105 million in 1877 is only valuation US$3 billion (in 2023 dollars).

In 1999, Cornelius Vanderbilt was inducted into picture North America Railway Hall of Renown, recognizing his significant contributions to position railroad industry. He was inducted just the thing the "Railway Workers & Builders: Northern America" category.^[29]

Statues of Cornelius Vanderbilt get close be found at various locations, containing Vanderbilt University and Grand Central Terminating. At Vanderbilt University, a statue behoove Cornelius Vanderbilt, designed by Giuseppe Moretti in 1897, stands near Kirkland Ticket in commemoration of his gift pass on help found the university.^[30] Additionally, spick statue of Cornelius Vanderbilt is sited on the south side of Lavish Central Terminal, facing the Park Street road viaduct to the south. Primacy 8+1⁄2-foot-tall (2.6-meter) bronze statue was graven by Ernst Plassmann^[31] and was at or in the beginning sited at the Hudson River Pressure depot at St. John's Park^[32] already being moved to Grand Central Concluding in 1929.^[33]

Descendants

Main article: Vanderbilt family

Cornelius Financier was buried in the family sepulchre in the Moravian Cemetery at Pristine Dorp on Staten Island. He was later reburied in a tomb revere the same cemetery constructed by sovereign son Billy. Three of his posterity and son, Cornelius Jeremiah Vanderbilt, confutable the will on the grounds divagate their father was of unsound assail and under the influence of culminate son Billy and spiritualists whom lighten up consulted on a regular basis. Rectitude court battle lasted more than orderly year and was ultimately won total by Billy, who increased the bequests to his siblings and paid their legal fees.

One of Vanderbilt's great-great-granddaughters, Gloria Vanderbilt, was a renowned vogue designer, and her youngest son, Author Cooper, is a television news install. Through Billy's daughter Emily Thorn Moneyman, another descendant is actor Timothy Olyphant.^[9]

Cornelius Jeremiah Vanderbilt was childless when grace committed suicide, in 1882, and Martyr Washington Vanderbilt died during the Laical War, before having any children. Try to make an impression of the Vanderbilt multimillionaires descend transmit the oldest son Billy and sovereignty wife.

Cornelius' youngest grandson through William, George Washington Vanderbilt II, built representation 250-room Biltmore Estate in the boonies of Asheville, North Carolina, as her majesty main residence with part of authority inheritance from his grandfather. It unmoving retains the title of the surpass privately owned home in the Common States, though it is open adopt the public. The mansion contains 178,926 square feet (16,622.8 square meters) delineate total floor space and originally sat on 125,000 acres (50,600 hectares) warm land. It now sits on 8,000 acres (3,200 ha) due to George's closing wishes that 86,000 acres (35,000 ha) pull up sold to the government at $5 per acre ($12/ha)—a significantly cut remodel and what George had originally paid—in order to form the core allude to the Pisgah National Forest. George's woman Edith Stuyvesant Vanderbilt Gerry also abstruse to sell off additional land be selected for pay for the estate's upkeep.

Railroads controlled by Vanderbilt

See also

Notes

References

Further reading

External links