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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George Washington Carver
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Cornelius Vanderbilt
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Henry Ford
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Thomas Edison
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Detailed explanation-1: -In the early 1850s, during the California Gold Rush, a time before transcontinental railroads, Vanderbilt launched a steamship service that transported prospectors from New York to San Francisco via a route across Nicaragua.
Detailed explanation-2: -The following year, he formed a company to transport passengers and goods from New York City and New Orleans to San Francisco via Nicaragua. With the enormous demand for passage to the West Coast brought about by the 1849 gold rush, Vanderbilt’s Accessory Transit Company proved a huge success.
Detailed explanation-3: -Vanderbilt made his millions by controlling two burgeoning industries: the steamboat industry and the railroad industry. When he died, Vanderbilt’s estate was estimated to be worth $100, 000, 000. That was back in 1877.
Detailed explanation-4: -A 19th-century shipping and railroad magnate, Cornelius Vanderbilt was a ruthless, shrewd, and competitive businessman. Able to offer reliable services and cheap fares without compromising on comfort, he undercut his rivals and broke down steamship monopolies.