WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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He made railroad travel easier in New York.
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He made railroad tickets cheaper by owning the New York section.
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He gave Tennesseans a free education at Vanderbilt University.
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He increased exportation through his steamship shipping company.
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Detailed explanation-1: -By the 1850s he had turned his attention to railroads, buying up so much stock in the New York and Harlem Railroad that by 1863 he owned the line. He later acquired the Hudson River Railroad and the New York Central Railroad and consolidated them in 1869.
Detailed explanation-2: -Vanderbilt built another empire and also helped make railroad transportation more efficient. He changed his railroad’s name to the New York Central & Hudson River when he merged the original New York Central Railroad with his own Hudson River Railroad.
Detailed explanation-3: -In 1867 Cornelius Vanderbilt won control, after beating down the Central’s stock, and combined it with his New York and Hudson railroads running from Manhattan to Albany.
Detailed explanation-4: -By cutting fares on competing lines, Vanderbilt drove down the Stonington stock price, and took over the presidency of the company in 1847. It was the first of the many railroads he would head. During these years, Vanderbilt also operated many other businesses.