Rodman Price attended public schools in New York City and Lawrenceville Academy before studying at The College of New Jersey (Princeton University). He entered the commission business in New York after reading law but not practicing. Price served in the United States Navy, sailing aboard the USS Fulton and USS Missouri, and played a role in the Mexican-American War by ferrying U.S. Marines to seize Monterey, California. He was named prefect and alcalde at Monterey and acted as an investment agent in California following the American annexation. Price was elected to one term as U.S. Representative from New Jersey's fifth congressional district, focusing on California real estate deals and constituent services. Later, he engaged in various business ventures and participated in the Peace Conference of 1861, urging New Jerseyans not to take up arms.

Rodman Price's political identity is marked by a blend of military discipline and economic pragmatism, albeit with an unusual twist. His advocacy for recodifying martial law aboard Navy vessels and suggesting courts-martial should supersede the captain's power at sea reveals a rigidly hierarchical view of military order. Price's involvement in Californian real estate speculation and land rush investments showcases an entrepreneurial spirit tied to territorial expansion. Despite his unsuccessful bid for ambassadorship, his editorial urging New Jerseyans to avoid conflict in 1861 presents an intriguing contradiction between his aggressive economic pursuits and pacifist inclinations in politics.