"The First Tycoon: The Epic Life of Cornelius Vanderbilt". By T.J. Stiles. Available on Amazon: http://www.amazon.com/s/ref=nb_sb_ss_i_1_12?url=search-alias%3Dstripbooks&field-keywords=the%20first%20tycoon%20the%20epic%20life%20of%20cornelius%20vanderbilt&sprefix=the+first+ty%2Cstripbooks%2C418
If you're strictly into railroading, pass on this book. If you can broaden it out to an interst in transportation, I think you'll find the book informaive and enoyable, as I did. It deals with the importance of transportation regarding the development of the economy and how Vanderbilt was at the leading edge of the steam revolution in transportation. In his day steam power was the technological revolution changing the world. Vanderbilt understood how to apply this new technolgy to practical effect. That was part of his genius.
Most of the "Commodore's" life, and most of this book, was devoted to steam powered water transportation. Only toward the end of his life, and the end of the book, do we get in to the creation of the New York Central.
Vanderbilt, born on Staten Island in 1794, had virtually no formal education. But his father ran a boat service between Staten Island and Manhatten. So the Commodore grew up on the water. Although generally loathe to work for anyone but himself, he went to work for a steamboat operator to learn about steam power. This allowed him to develop the ability, sans formal education, to eventually design steamships that could safely, economially, and speedily cross the North Atlantic.
He was instrumental in linking California to New York, via Nicaragua. At age 50 plus he personally went to Nicaragua and piloted a boat through river rapids to set up the land crossing between the coasts. He did not lack courage, physical or mental. During the Civil War it was his ships that carried the California gold to New York City. The Confederates obviously wanted to intercept the gold. Vanderbilt donated his best ship, the iron hulled, steam powered, vey fast "Vanderbilt" to the U.S. Navy. It was armed and used to escort the gold ships. The Confederates never intercepted a gold shipment. The captain of the Confederate raider "Alabama" was frankly afraid of an encounter with the Vanderbilt and gave it a wide berth.
Vanderbilt had a son who graduated from West Point the year the Civil War started. He never saw action. He became ill near the start of the war and died. A grandson did serve with distiction.
In addition to understanding the application of steam power, Vanderbilt understood quite well the new form of business organization known as a corporation. Many people did not (and do not) understand such an orgainization. This lead to false charges of such things as "Watering the Stock." Vanderbilt wasn't doing anything wrong. It was just that people did not understand what he was doing.
A prime trait of Vanderbilt was his leadership ability. People might not like him or what he did, but they trusted him. He had the courage to set a course and see it through. Come Hell or high water. His word was his bond. No evidence is presented that he ever bribed or cheated. People followed him because he knew what he was doing and had the resources and courage to do it.
He was involved in one of the most imporatant early cases decided by the U.S. Supreme Court. New York State, whoes legislature was pretty much for sale, established a steamboat monopoly that restricted interstate commerce to ferry boats of New York. A non New York boat couldn't dock in New York with a cargo from New Jersey. This went to the Supreme Court which rulled such state laws violated the Commerce Clause of the Federal Consitution. The US thus became a common market instead of a restricted economy set up to favor the politically connected few.
In his late 60's Vanderbilt shifted his focus to railroads. Before his death in 1877 he had put together the sound beginnings of the New York Central System.
Quite a man. Quite an honest man. Quite a leader. He did get very rich, but he did so by enabling the enterprise of other people. He facilitated the success of others.
I enjoyed the book. But its railroad content is secondary. Its focus is on transporation and commerce. That's the world railroads live in. Vanderbilt had a major role in creating and building that world.
Thanks for the well written review! Sounds like a very interesting book about a fellow who was a major player in the development of this nation.
Gibbons vs Ogden, 1824.
C&NW, CA&E, MILW, CGW and IC fan
schlimm Gibbons vs Ogden, 1824.
Yes, Vanderbilt was employed by Gibbons. Gibbons was the New Jersey ferry operator who challenged the New York trade barrier in Federal court.
It was the first case involving the Commerce Clause.
Excellent review. Much the same can be said for Jay Gould, two men who were cast from the same mold it seems.
Tycoon is a fine biography, as well-written as it is researched. When I read the book I reflected on how our country seemed to produce lots of men like Vanderbilt years ago and not so much today. What I mean is Vanderbilt's sense of vision, his quality of seizing opportunities, and his really selfless devotion to his country (see for reference his offering of his ships and more to the Federal Government during the Civil War).
The book also exposes the Commodore's private life in an honest and intimate way. For him and for so many others Hell, as Satre said, (was) other people. This guy had sons and daughters-in-law that seemingly were sent up from Central Casting; he knew about grief.
The railroad part of the book and Vanderbilt's life takes up only the last 20% of Tycoon because that was about how important railroads per se were to him. The chapter dealing with the bridge over the Hudson River at Albany and the fight with the NYC RR is particularly interesting and insightful.
As someone here noted earlier, Vanderbilt by all accounts seems to have been an honest and forthright man, if sharp, and a fine example of the kind of American businessman of which we never seem to have enough.
One also can't help but note that with one exception, his heirs largely burned through the fortunes he left them. Most led the lives of dillitantes or wastrels, never actually earning a living but spending lavishly from the fortunes the stock of the New York Central was earning for them. If the name Vanderbilt is familiar to Americans today it is for a brand of jeans, or maybe a huge, rather pointless house, and not for either being business leaders or philanthropists. The Commodore would have dismissed nearly all of them with a wave of his hand and by saying of them, "That amounts to nothing."
I always look at his statue if I get to 42nd Street. In his own way he really was a great American citizen. That's the most that can be said of any of us.
So much of what I know is from "The Scarlet Lady of Street", a really good read that should make you laugh out loud.
http://www.amazon.com/The-Scarlet-Woman-Wall-Street/dp/1555842127
NKP guyOne also can't help but note that with one exception, his heirs largely burned through the fortunes he left them.
That is not true. Some heirs (besides Billy) and heirs of heirs, etc. were "the idle rich," but several were productive members of society, though not only as businessmen.
schlimm .ll o NKP guy One also can't help but note that with one exception, his heirs largely burned through the fortunes he left them. That is not true. Some heirs (besides Billy) and heirs of heirs, etc. were "the idle rich," but several were productive members of society, though not only as businessmen.
.ll o
NKP guy One also can't help but note that with one exception, his heirs largely burned through the fortunes he left them.
For the "Rest of the story" you might want to read Fortune's Children: The Fall of the House of Vanderbilt by Arthur T. Vanderbilt II. Available through Amazon and likely available through inter-library loan
LensCapOn So much of what I know is from "The Scarlet Lady of Street", a really good read that should make you laugh out loud. http://www.amazon.com/The-Scarlet-Woman-Wall-Street/dp/1555842127
By John Steele Gordon, who's a pretty good historian, IIRC. All 5 reviews on Amazon gave it 5 stars, mainly for its explanation of the finances of the day - several said the likes and sophistication (?) of which hasn't been seen since.
- Paul North.
Vanderbilt has always been dead, but like the book reviewed, his letters to the founder of Vanderbilt University bring him alive a little bit.
https://archive.org/stream/bishophollandnim00tige#page/186/mode/2up
How different railroad history would be if Vanderbilt had died at 39, on his first train ride.
https://books.google.com/books?id=lfKq34PkOg0C&pg=PA90&dq=%22on+november+8+1833+vanderbilt%22&hl=en&sa=X&ved=0ahUKEwjOzNzPpszPAhULkh4KHZyyCaUQ6AEIHjAA#v=onepage&q=%22on%20november%208%201833%20vanderbilt%22&f=false
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