When the rebellion broke out, the navy was in a feeble condition; every ship in the south was pressed into the rebel service. The men-of-war at Norfolk were burned. At Annapolis they were mutilated and made unfit for service. The efficient portion of the navy was cruising in foreign seas, beyond recall. The need of ships of war and gun-boats was painfully apparent. The steam-ship _Vanderbilt_ was the finest and fleetest vessel that ever floated in American waters. Her owner fitted her up as a man-of-war at his own expense, and fully equipped her. He then offered her for sale to government at a reasonable price. Mr. Vanderbilt found that there were certain men, standing between the government and the purchase, who insisted on a profit on every vessel that the government bought. He refused to pay the black-mail that was exacted of him if his vessel became the property of the nation. He was told that, unless he acceded to these demands, he could not sell his ship. Detesting the conduct of the men, who, pretending to be patriots, were making money out of the necessities of the nation, he proceeded at once to Washington, and presented the _Vanderbilt_, with all her equipments, as a free gift to the nation. There were few men who attended more closely to business than the late Mr. Vanderbilt; and, as an American writer remarked of him a few years before his death, “financially he was ready for the last great change.” At that time his property was estimated at about thirty millions of dollars. He was very liberal where he took an interest; but very fitful in his charities. He often not only subscribed liberally, but compelled all his friends to do the same. He was prompt, sharp, decisive in his manner of doing business; he was punctual in his engagements to the minute; he was very intelligent and well-informed, and, in commercial and national affairs, had no rival in shrewdness and good judgment. He was affable, assumed no airs, and was pleasant and genial as a companion; and when time began to tell on his iron frame, and he began to feel the decrepitude of age, he was not unmindful of its admonitions, and entered into no new speculations; for he wished to leave no unfinished business to his children, amongst whom his large property—the results of favourable endeavour and successful financial operations—was divided.