The family emigrated to United States in 1849, and settled four years later in Rondout, New York. He attended the public schools. During the American Civil War, he fought with the 192nd New York Volunteers. After the war, he engaged in the manufacture of furniture, and later in freight forwarding, contracting, and boat building. In 1877, he married Sophie Derrenbacher (died 1941), and they had ten children.
Rice was Coroner of Ulster County from 1882 to 1885.