Cornelius Vanderbilt

Cornelius Vanderbilt 1794-1877. Grew up working for his father who operated a farm and a tug boat to ferry cargo from Manhattan NY to Staten Island NJ.  In the 1820s, he established his own tugboat company and became one of the largest steamship operators.  In the 1860s, he focused on connecting the fragmented railroads that had been established in the East. His estate was $100 million. His son William Vanderbilt inherited his father’s companies and fortune, but had already been working to grow the railroad businesses.

William Vanderbilt 1821 – 1885 inherited the Vanderbilt businesses and fortune. At age 19, in 1840, William was sent to manage the family farm and was successful. In 1857, he assumed receivership of Staten Island Railroad and made it successful. In 1864, William was made VP of his father’s companies. It was not until after the Commodore’s death in 1877 that William was fully able to demonstrate his financial and managerial genius. He greatly expanded the New York Central network and acquired the Chicago and North Western; the Nickel Plate (New York, Chicago, & St. Louis); Cleveland, Columbus, Cincinnati, and Indianapolis; and other railroads. He fought regulation of the railroads as he engaged in rate wars and gave special rates to favored shippers. By the time poor health forced him to resign his railroad presidencies in 1883, William Henry had nearly doubled the Vanderbilt family fortune.

https://www.history.com/topics/19th-century/cornelius-vanderbilt

Cornelius Vanderbilt II 1843-1899 inherited the family businesses in 1885 from his father William. The Sherman Antitrust Act was passed in 1890 by Progressives in order to break up the consolidated dominant railroads, steel and oil companies.

In 1901, Progressive Teddy Roosevelt became President and dismantled the railroads, steel and oil companies.  He was followed by William Howard Taft 1909 – 1913. He was followed by Woodrow Wilson 1913-1921.

In 1913, Congress established the Federal Reserve and enacted the income tax and inheritance tax laws that would force wealthy families to give away their family fortunes. The captains of US industry who created the US economy were shot in the back by the Marxists we allowed to infiltrate the federal government. They are still there in the Deep State.

Norb Leahy, Dunwoody GA Tea Party Leader