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Cornelius Vanderbilt, Robber Barron or Captain of Industry
Transcript of Cornelius Vanderbilt, Robber Barron or Captain of Industry
To start off, Cornelius's family emigrated to America as dutch farmers and didn't stand out in America until the fourth generation of his family, when Cornelius Vanderbilt at 16 years old began to accumulate.(Vanderbilt M)
Cornelius started his career with just $100 borrowed from his parents, and soon purchased a periauger (a flat-bottomed sailing barge) to begin his first ferry service between Staten Island and Manhattan.(Vanderbilt M)
A year later, Cornelius eventually repaid the $100, and by then had a $1,000 profit.(Vanderbilt M)
Major Contributions Cornelius Made
Throughout the years he became the largest steamship operator in the U.S., and also launched a steamship service that transported prospectors from New York to San Francisco. In his time period this project earned him $1 million in a year and $26 million in our time period a year.(Vanderbilt E)
His steamships majorly benefited America because he gave the Union Navy during the Civil War a steamship to chase down confederate raiders which helped us a lot.(Vanderbilt E)
Later into his career he decided to go into railroads, and ended up making railroad transportation much more efficient, and then gained control of railways operating from Chicago to New York while making a railroad empire.(Vanderbilt E)
Cornelius and His Workers
Cornelius provided thousands of jobs by ordering his construction of the Grand Terminal in New York.(Vanderbilt K)
Also, Cornelius gave his workers low pay for long hours, and was known to be arrogant and greedy in his work life.(Prezi)
Generous Actions Made by Cornelius
In his lifetime, Cornelius didn't really give away his vast wealth to charitable causes, but the one of the only substantial philanthropic donation was that he gave $1 million to build and endow Vanderbilt University in Nashville, Tennessee.(Vanderbilt E)
He also gave $95,000,000 to his son William so that he could move on with the company, and around $500,000 to his other children.(Vanderbilt J)
In the End,
Cornelius is a...
This is true because throughout his career he built up his money through buying out other companies that were unfair agreements, and never earned it entirely by himself.
To add on, he got the idea to buy other companies and cut out the middle man from other industrialists that lived before him.
Also, this is true because he was greedy and never really used his money for many generous things throughout his life.
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The Grand Terminal in New york
Railroad and a train
William Vanderbilt (his son)