The Men Who Built America
Much credit was given to six men, for creating the foundation of America. The first 4
were Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, and J.P. Morgan. Through
shipping and trains, oil and its development, steel and construction, and corporate finance,
these men constructed the foundation of our country. Through their careers, these men saw
much change during prosperous times that effected business then and ultimately in the long
run.
Cornelius Vanderbilt was an American industrialist and philanthropist. His claim to
fame and fortune was through shipping and railroads, becoming one of the richest men in
American history. Vanderbilt took an interest in railroads in the 1850's and served on the
boards of directors of the Erie Railway, the Central Railroad of New Jersey, the Hartford and
New Haven, and the New York and Harlem. In 1863, he took control of the Harlem after
buying most of its stock and was elected president of the railway. He realized the value of
this railroad as it was the only steam railroad to enter the large city of Manhattan and ended
up in New York where it connected with other railroads there. He then purchased the Staten
Island Railway. Vanderbilt ran into some problems with the Harlem and connecting lines
between other railways. But after some trouble, he bought control of the Hudson River
Railroad in 1864, the New York Central Railroad in 1867, the Lake Shore and Michigan
Southern Railway in 1869, and soon after he bought the Canada Southern railway also.
Vanderbilt then consolidated his two most important railroads into the New York Central and
Hudson River Railroad in 1870, making this one of the first large corporations in American
history. Just years earlier in 1868, Vanderbilt and Daniel Drew, who had just become
treasurer of the Erie Railway, fell into a dispute over control of the Erie Railway Company
which
were Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, and J.P. Morgan. Through
shipping and trains, oil and its development, steel and construction, and corporate finance,
these men constructed the foundation of our country. Through their careers, these men saw
much change during prosperous times that effected business then and ultimately in the long
run.
Cornelius Vanderbilt was an American industrialist and philanthropist. His claim to
fame and fortune was through shipping and railroads, becoming one of the richest men in
American history. Vanderbilt took an interest in railroads in the 1850's and served on the
boards of directors of the Erie Railway, the Central Railroad of New Jersey, the Hartford and
New Haven, and the New York and Harlem. In 1863, he took control of the Harlem after
buying most of its stock and was elected president of the railway. He realized the value of
this railroad as it was the only steam railroad to enter the large city of Manhattan and ended
up in New York where it connected with other railroads there. He then purchased the Staten
Island Railway. Vanderbilt ran into some problems with the Harlem and connecting lines
between other railways. But after some trouble, he bought control of the Hudson River
Railroad in 1864, the New York Central Railroad in 1867, the Lake Shore and Michigan
Southern Railway in 1869, and soon after he bought the Canada Southern railway also.
Vanderbilt then consolidated his two most important railroads into the New York Central and
Hudson River Railroad in 1870, making this one of the first large corporations in American
history. Just years earlier in 1868, Vanderbilt and Daniel Drew, who had just become
treasurer of the Erie Railway, fell into a dispute over control of the Erie Railway Company
which
Citations: "The Homestead Strike."PBS.org. PBS, 2009. Web. 11 Oct. 2013. "Andrew Carnegie."History.com. N.p., 2013. Web. 11 Oct. 2013. Stiles, T.J. "Cornelius Vanderbilt."The New York Times. N.p., n.d. Web. 11 Oct. 2013. Folsom, Burton. "John D. Rockefeller and the Oil Industry." Fee.org. N.p., 1 Oct. 1988. Web. 11 Oct. 2013. Bowen, Liz. "J.P. Morgan: A Biography by Liz Bowen."Fordham University.edu. N.p., 2013. Web. 11 Oct. 2013.