How Did Vanderbilt Contribute To The Economy

After the death of Abraham Lincoln, new inventions and innovations were made to strengthen the United States's economy. Business leaders and entrepreneurs rose to the top with their innovations that would benefit U.S. Citizens the most while making a profit for themselves. One entrepreneur who rose to power with his ingenious ideas was Cornelius Vanderbilt. Vanderbilt was a cutthroat businessman with a reputation of getting what he wanted no matter the cost. Vanderbilt saw an opportunity for profit through shipping. Shipping wax in high demand in the U.S. And Vanderbilt saw how he could benefit from it. He buys ferry boats to ship goods across the country easily and quickly. Earning the nickname commodore for having the largest shipping empire in the world, Vanderbilt still wants more. Vanderbilt notices how beneficial railroads are becoming and wants to use them to his expense. Seeking opportunity, Vanderbilt takes a risk and sells his ships to invest in shipping using railroads and trains. …show more content…
Vanderbilt mourns over the loss of his son George who died in the war who was set to inherit the business from him. He then had to teach his other son, William, how to run the business. Supplying the entire continent with his railroads, Vanderbilt still wanted more. He wanted every railroad he could get to expand his empire. Taking extremes, the Commodore closed the main railroad just to put his rivals out of business so he could but them out cheaply. With Vanderbilt's railroads, the economy strengthened and 180,000 jobs were created. Still unsatisfied, Vanderbilt wanted the Erie line running from New York City to Chicago. After buying 100,000 shares of watered down stock from Jay Gould and Jim Fisk to make the Erie line his, Vanderbilt vowed never to be beaten again. His vow stays true until he meets John D.