Cornelius Vanderbilt

The First Robber Baron-By: Nikko Schaff

Childhood Born May 27th, 1794 on Staten Island Family owned a large area of farming land on the island Worked on the farm as he grew up Found more of an interest in the transport and markets in Manhattan

Early Career At age sixteen, made a deal with his mother to plow eight acres for $1,300 Used the money to purchase a sail boat Began to make a living transporting up to four people a day between the

islands Most of the city was downtown those days, giving him a large market in transport

Contracted by the government to transport supplies to Hudson Bay fortsduring the War of 1812 Ferry work was still to profitable to give up, so he ferried in the day and transported

military supplies in the night Earned enough to construct two additional ships

Successful Events in his Career 1817: Abandoned sails to join a steamboat corporation 1830: United steamboat builders and led their construction and activity 1854: Granted government subsidy for a route between America and England 1854: Cheated by a Nicaraguan company

Stated “Gentlemen, I will not sue you, for the law is too slow. I’ll ruin you” Created a competing transport company, destroyed Nicaraguan Transit

Co. 1864: Bravely piloted a transport to the famous Union ironclad: the Monitor

Saved the Monitor from future destruction

Vanderbilt’s Destructive PotentialArises June 1860: Vanderbilt acquires the Pacific Mail Co.

Gives him control of the majority of east and west coast transport Government demanded he be granted a partial subsidy for west

coast transport to be delivered without customer pay His losses would have amounted to a quarter million each voyage In retaliation, he ceased all steamboat transport operations for two weeks Only restarts activity after the government granted a full subsidy

Therefore, Vanderbilt proved that the lack of government regulationcan greatly damage society.

How is that Important Today?

Google is the most powerful company in the internet Stock is worth $500 per share Acts as the crux of information exchange Has 28 separate functions, including Gmail and Youtube Owns a web browser and an operating system (in development)

Imagine a situation where Google reacted similarly… The internet would largely be inoperative Businesses requiring Google would crash A recession would be triggered

Late Life Bought millions in stock of Harlem construction Made profitable investments in the New York Central Railroad Co. Near the end of his life, he focused more on railroads throughout the

country Died on January 4th, 1877, at the age of 83

Bibliography 1: www.justsharethis.com

2: www.troop150.net

3: www.clear.colorado.edu

4: www.bjmi.us

5: Commodore Vanderbilt’s Life”. NY Times, 5 January 1877.

6: “Murdering the Mails” NY Times, 3 July 1860

7: “Commodore Vanderbilt Accedes to the Terms of the Government” NY Times,10 July 1860

8: “ The Pacific Mails and their Master” NY Times, 4 January 1877