Great Fortunes: Cornelius Vanderbilt Part 5
After the decision of the Supreme Court placed Mr. Gibbons in the full enjoyment of his rights, Captain Vanderbilt was allowed to manage the line in his own way, and conducted it with so much skill and vigor that it paid its owner an annual profit of forty thousand dollars. Mr. Gibbons offered to increase his salary to five thousand dollars, but he refused to accept the offer.
“I did it on principle,” he said, afterward. “The other captains had but one thousand, and they were already jealous enough of me. Besides, I never cared for money. All I ever cared for was to carry my point.” VANDERBILT CARRYING OFF THE SHERIFF.
In 1829 he determined to leave the service of Mr. Gibbons, with whom he had been connected for eleven years. He was thirty-five years old, and had saved thirty thousand dollars. He resolved to build a steamer of his own, and command her himself, and accordingly made known his intention to his employer. Mr. Gibbons at once declared that he could not carry on the line without his assistance, and told him he might make his own terms if he would stay with him. Captain Vanderbilt had formed his decision after much thought, and being satisfied that he was doing right, he persisted in his determination to set up for himself. Mr. Gibbons then offered to sell him the line on the spot, and to take his pay as the money should be earned. It was a splendid offer, but it was firmly and gratefully refused. The captain knew the men among whom he would be thrown, and that they could never act together harmoniously. He believed his own ideas to be the best, and wished to be free to carry them out.
After leaving Mr. Gibbons he built a small steamer, called the “Caroline,” which he commanded himself. In a few years he was the owner of several other small steamers plying between New York and the neighboring towns. He made slow progress at first, for he had strong opposition to overcome. The steamboat interest was in the hands of powerful companies, backed by immense capital, and these companies were not disposed to tolerate the interference of any new-comer. They met their match in all cases, however, for Vanderbilt inaugurated so sharp a business opposition that the best of them were forced to compromise with him. These troubles were very annoying to him, and cost him nearly every dollar he was worth, but he persevered, and at length “carried his point.”
From that time he made his way gradually in his business, until he rose to the head of the steamboat interest of the United States. He has owned or been interested in one hundred steam vessels, and has been instrumental in a greater degree than any other man in bringing down the tariff of steamboat fares. He never builds a vessel without giving his personal superintendence to every detail, so that all his various craft have been models of their kind. He selects his officers with the greatest care, pays them liberal salaries, and, as long as they do their duty, sustains them against all outside interference or intrigue. In this way he inspires them with zeal, and the result is that he has never lost a vessel by fire, explosion, or wreck.
