Railroads Unite America

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Railroads Unite America

description

Railroads Unite America. The Transcontinental Railroad. Completed in 1869 Connected the Atlantic Coast to the Pacific Coast Reduced travel time from months to days. - PowerPoint PPT Presentation

Transcript of Railroads Unite America

Page 1: Railroads Unite America

Railroads Unite America

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Cornelius VanderbiltBuilt a trading company with his own steamships

and expanded to ocean going ships.Gained control of the New York and Harlem

Railroad in 1863Purchased several other railroads and merged

them into one of the first giant corporations in American history.

Built the Grand Central Depot (Grand Central Station today) in 1871

Streamlined railroad service in the U.S.Built up a $100 million fortune (worth about $140

billion today)Founded Vanderbilt University

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Railroad “barons” created vast railroad networks and monopolies with free land given by the government: Pacific Railway Act...Raised money by selling many of their land grantsUsed Chinese and Irish immigrants to lay tracks

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