Astoria; Or, Anecdotes of an Enterprise Beyond the Rocky Mountains, Irving [libby ebook reader txt] 📗

At the close of the American Revolution he was still in London, and scarce on the threshold of active life. An elder brother had been for some few years resident in the United States, and Mr. Astor determined to follow him, and to seek his fortunes in the rising country. Investing a small sum which he had amassed since leaving his native village, in merchandise suited to the American market, he embarked, in the month of November, 1783, in a ship bound to Baltimore, and arrived in Hampton Roads in the month of January. The winter was extremely severe, and the ship, with many others, was detained by the ice in and about Chesapeake Bay for nearly three months.

During this period, the passengers of the various ships used occasionally to go on shore, and mingle sociably together. In this way Mr. Astor became acquainted with a countryman of his, a furrier by trade. Having had a previous impression that this might be a lucrative trade in the New World, he made many inquiries of his new acquaintance on the subject, who cheerfully gave him all the information in his power as to the quality and value of different furs, and the mode of carrying on the traffic. He subsequently accompanied him to New York, and, by his advice, Mr. Astor was induced to invest the proceeds of his merchandise in furs. With these he sailed from New York to London in 1784, disposed of them advantageously, made himself further acquainted with the course of the trade, and returned the same year to New York, with a view to settle in the United States.

He now devoted himself to the branch of commerce with which he had thus casually been made acquainted. He began his career, of course, on the narrowest scale; but he brought to the task a persevering industry, rigid economy, and strict integrity. To these were added an aspiring spirit that always looked upwards; a genius bold, fertile, and expansive; a sagacity quick to grasp and convert every circumstance to its advantage, and a singular and never wavering confidence of signal success.

As yet, trade in peltries was not organized in the United States, and could not be said to form a regular line of business. Furs and skins were casually collected by the country traders in their dealings with the Indians or the white hunters, but the main supply was derived from Canada. As Mr. Astor’s means increased, he made annual visits to Montreal, where he purchased furs from the houses at that place engaged in the trade. These he shipped from Canada to London, no direct trade being allowed from that colony to any but the mother country.

In 1794 or ‘95, a treaty with Great Britain removed the restrictions imposed upon the trade with the colonies, and opened a direct commercial intercourse between Canada and the United States. Mr. Astor was in London at the time, and immediately made a contract with the agents of the Northwest Company for furs. He was now enabled to import them from Montreal into the United States for the home supply, and to be shipped thence to different parts of Europe, as well as to China, which has ever been the best market for the richest and finest kinds of peltry.

The treaty in question provided, likewise, that the military posts occupied by the British within the territorial limits of the United States, should be surrendered. Accordingly, Oswego, Niagara, Detroit, Michilimackinac, and other posts on the American side of the lakes, were given up. An opening was thus made for the American merchant to trade on the confines of Canada, and within the territories of the United States. After an interval of some years, about 1807, Mr. Astor embarked in this trade on his own account. His capital and resources had by this time greatly augmented, and he had risen from small beginnings to take his place among the first merchants and financiers of the country. His genius had ever been in advance of his circumstances, prompting him to new and wide fields of enterprise beyond the scope of ordinary merchants. With all his enterprise and resources however, he soon found the power and influence of the Michilimackinac (or Mackinaw) Company too great for him, having engrossed most of the trade within the American borders.

A plan had to be devised to enable him to enter into successful competition. He was aware of the wish of the American government, already stated, that the fur trade within its boundaries should be in the hands of American citizens, and of the ineffectual measures it had taken to accomplish that object. He now offered, if aided and protected by government, to turn the whole of that trade into American channels. He was invited to unfold his plans to government, and they were warmly approved, though the executive could give no direct aid.

Thus countenanced, however, he obtained, in 1809, a charter from the legislature of the State of New York, incorporating a company under the name of “The American Fur Company,” with a capital of one million of dollars, with the privilege of increasing it to two millions. The capital was furnished by himself he, in fact, constituted the company; for, though he had a board of directors, they were merely nominal; the whole business was conducted on his plans and with his resources, but he preferred to do so under the imposing and formidable aspect of a corporation, rather than in his individual name, and his policy was sagacious and effective.

As the Mackinaw Company still continued its rivalry, and as the fur trade would not advantageously admit of competition, he made a new arrangement in 1811, by which, in conjunction with certain partners of the Northwest Company, and other persons engaged in the fur trade, he bought out the Mackinaw Company, and merged that and the American Fur Company into a new association, to be called the “Southwest Company.” This he likewise did with the privity and approbation of the American government.

By this arrangement Mr. Astor became proprietor of one half of the Indian establishments and goods which the Mackinaw Company had within the territory of the Indian country in the United States, and it was understood that the whole was to be surrendered into his hands at the expiration of five years, on condition that the American Company would not trade within the British dominions.

Unluckily, the war which broke out in 1812 between Great Britain and the United States suspended the association; and, after the war, it was entirely dissolved; Congress having passed a law prohibiting the British fur traders from prosecuting their enterprises within the territories of the United States.