playing with other boys, and led a life of comparative isolation.
Fortunately for him, he had a teacher, Valentine Jeune by name, the son
of French Protestants, who was better fitted for his position than the
majority of the more liberally-patronized Catholic instructors. He was
well taught by Valentine Jeune in the rudiments of a plain education,
and the tutor and the Protestant minister of the village together
succeeded so well in his religious instruction that at the age of
fourteen he was confirmed. Confirmation is the decisive point in the
career of the German youth. Until then he is only a child. Afterward he
is regarded as on the threshold of manhood, and is given to understand
that the time has come for him to make choice of a career in life.

To the German peasant two courses only lie open, to learn a trade or go
out to service. John Jacob was resolved not to do the latter, and he was
in no condition to adopt the former. He was already familiar with his
father's trade, but he shrank from it with disgust, and he could not
hope to obtain money enough to pay for his tuition as an apprentice in
any other calling. No workman in the village would receive him as an
apprentice for less than fifty dollars, and fifty dollars were then
further beyond his reach than as many millions in after years. The
harvest was approaching, and Jacob Astor, seeing an unusual amount of
work in store for him at that season, decided the matter for his son by
informing him that he must prepare to settle down as his assistant. He
obeyed, but discontentedly, and with a determination to abandon his home
at the earliest practicable moment.

His chief desire was to leave Germany and emigrate to America. The
American Revolution had brought the "New Land" into great prominence;
and one of the brothers, Henry Astor, had already settled in New York as
a butcher, and his letters had the effect of increasing John Jacob's
desire to follow him. It was impossible to do so then, for the war which
was raging in this country made it any thing but inviting to an
emigrant, and the boy was entirely ignorant of the English language.
Nevertheless, he knew that the war could not last always, and he
resolved to go as soon as peace would allow him. Meanwhile he wished to
join his elder brother, who had removed to London, and was now engaged
with his uncle in the manufacture of musical instruments. In London he
thought he could acquire a knowledge of English, and save from his wages
the amount necessary to pay his passage from England to America. He
could reach some of the seaports of the Continent by walking. But he
needed money to pay his passage from there to Great Britain. His
determination thus formed, he made no secret of it, and succeeded at
length in extorting a reluctant consent from his father, who was not
inclined to expect very much from the future career of his son. His
teacher, however, had more faith in him, and said to the butcher, on the
morning of the lad's departure: "I am not afraid of John Jacob; he'll
get through the world. He has a clear head, and every thing right behind
the ears."

He was seventeen years old when he left home; was stout and well built,
and had a constitution of iron. He was possessed of a good plain
education, and a remarkable degree of common sense. He had no vicious
habits or propensities, and was resolved that he would never set foot
again in his native town until he could do so as a rich man.

Ardently as he was bent on seeking his fortune in distant lands, it cost
him a struggle to go away, for he was a true German in his attachment to
his home and family. This attachment he never lost. After providing
liberally for his relatives in his will, he made a munificent donation
to his native village for the benefit of its poor children.

With his scanty wardrobe in a bundle, which he slung over his shoulder
by a stick, and a mere pittance in his purse, he set out from Waldorf,
on foot, for the Rhine. "Soon after I left the village," said he, in
after-life, "I sat down beneath a tree to rest, and there I made three
resolutions: to be honest, to be industrious, and not to gamble." He had
but two dollars in his pocket; but this was enough for his purpose. The
Rhine was not far distant from his native village, and this part of his
journey he easily accomplished on foot. Upon reaching the river, he is
said to have secured a place as oarsman on a timber raft. The timber
which is cut in the Black Forest for shipment is made up into rafts on
the Rhine, but instead of being suffered to float down the stream, as in
this country, is rowed by oarsmen, each raft having from sixty to eighty
men attached to it. As the labor is severe and attended with some risk,
the wages are high, and the lot of the oarsmen not altogether a hard
one, as they manage to have a great deal of sport among themselves. The
amount paid as wages on these voyages is about ten dollars, besides the
coarse fare furnished the men, and the time occupied is about two weeks.

Upon reaching the Dutch seaport at the mouth of the Rhine, young Astor
received his wages--the largest sum he had ever possessed--and took
passage in a vessel for London, where he was welcomed cordially by his
brother, and provided with employment in his manufactory.

He now set to work to prepare himself for his emigration to America. His
industry was unflagging. He worked literally from dawn till dark, and
practiced the most rigid economy in his expenditures. His leisure time,
which was brief, was spent in trying to master the English language, and
in acquiring information respecting America. He had anticipated great
difficulty in his efforts to learn English, but succeeded beyond his
hopes. In six weeks he could make himself understood in that language,
and some time before starting for America could speak it with ease,
though he never could at any period of his life rid himself of his
strong German accent. He was never able to write English correctly, but
after being some years in this country acquired a style which was
striking and to the point, in spite of its inaccuracy. England, however,
was not a favorable place for acquiring information respecting America.
The Colonies had exasperated the mother country by their heroic struggle
for freedom, which was just drawing to its close, and the New World was
pictured to the imagination of the young German in any thing but a
favorable light. His most accurate information was gained from those who
had returned from America, and these persons, as often as chance threw
them in his way, he questioned with eagerness and precision; their
answers were carefully stored up in his memory.

In September, 1783, the news of the peace which established the
independence of the United States was published in Europe. Young Astor
had now been in London two years, and had saved money enough to take him
to America. He was the possessor of a suit of good clothes, besides his
ordinary wearing apparel, and fifteen guineas in English money, which he
had saved from his slender earnings by the absolute denial to himself of
every thing not essential to his existence. The way to America was now
open, and he resolved to set out at once. For five guineas he bought a
steerage passage in a ship bound for Baltimore, and reserving about five
pounds sterling of the remainder of his capital in money, invested the
rest in seven German flutes, which he bought of his brother, and
embarked for the "New Land."

The winter was memorable on land and sea for its severity, and our
hero's first voyage was a stormy one. It is said that on one occasion,
when the tempest was unusually violent, and the ship in imminent danger,
he made his appearance in his Sunday clothes. In reply to those who
asked his reason for so strange an act, he said that if he should reach
land he would save his best clothes, and that if he was drowned it was
immaterial what became of them.

Although the ship sailed in November, it did not reach the Chesapeake
until near the end of January, and there, when only one day distant from
Baltimore, was caught in the ice, where it was compelled to remain until
late in March. This delay was very vexatious to the young emigrant, but
it proved in the end the greatest blessing that could have befallen him.
During the voyage Astor had made the acquaintance of one of his fellow
passengers, a German, somewhat older than himself, and, while the ship
lay fast in the ice, the two were constantly together. As a consequence
of the intimacy which thus sprung up between them, they exchanged
confidences, told each other their history, and their purpose in coming
to America. Astor learned that his friend had emigrated to the New World
a few years before, friendless and penniless, but that, beginning in a
little way, he had managed to become a fur trader. He bought his furs
from the Indians, and from the boatmen plying on the Hudson River. These
he sold at a small profit to larger dealers, until he had accumulated a
considerable sum for one in his position. Believing that he could find a
better market in Europe than in America, he had embarked all his capital
in skins, which he had taken to England and sold at a heavy advance. The
proceeds he had invested in toys and trinkets valued by the savages, and
was now on his way back with them, intending to go into the wilderness
himself and purchase an additional stock of furs from the Indians. He
recommended Astor to enter upon the same business; gave him valuable
information as to the value of peltries in America and in England; told
him the best way of buying, packing, preserving, and shipping the skins,
and gave him the names of the leading furriers in New York, Montreal,
and London. Astor was deeply impressed with the views of his friend, but
he could not see his own way clear to such a success, as he had no
capital. His friend assured him that capital was unnecessary if he was
willing to begin in an humble way. He could buy valuable furs on the
wharves of New York for toys and trinkets, and even for cakes, from the
Indians who visited the city, and these he could sell at an advance to
the New York dealers. He advised the young man, however, not to be
satisfied with the American market, but to work for a position which
would enable him to send his furs to England, where they would bring
four or five times as much as in this country. Astor carefully treasured
up all that his friend said to him, and quietly resolved that he would
lose no time in entering upon this business, which seemed to promise so
much.

The two friends traveled together from Baltimore to New York, where they
were warmly received by Aster's brother, Henry, who had succeeded in
laying the foundation of a prosperous business as a butcher, in which he
afterward made a large fortune. Both brothers were men of business
habits, and on the very first evening after the arrival of the new-comer
they began to discuss plans for his future. Astor's friend stated all
the advantages of the fur trade, and convinced Henry Astor that it was a
fine field for the energies of his brother; and it was agreed that it
would be best for the young man to seek employment in the service of
some furrier in the city, in order that he might thoroughly learn the
business, and familiarize himself with the country and its customs. To
his great delight, young Astor learned that, so far from being compelled
to pay his employer for learning him the business, as in Europe, he
would be certain here to receive his board and nominal wages from the
first. The next day the three started out, and succeeded in obtaining a
situation for the young man in the store of Mr. Robert Bowne, a Quaker,
and a merchant of long experience in the business, as well as a most
estimable man. He is said to have engaged Astor at two dollars per week
and his board.

Astor was at once set to work by his employer to beat furs, this method
of treating them being required to prevent the moths from lodging in and
destroying them. From the first he applied himself to the task of
learning the business. He bent all the powers of his remarkable mind to
acquiring an intimate knowledge of furs, and of fur-bearing animals, and
their haunts and habits. His opportunities for doing so were very good,
as many of the skins were sold over Bowne's counters by the hunters who
had taken them. These men he questioned with a minuteness that
astonished them, and the result was that in a few years he was as
thoroughly familiar with the animals, their habits, their country, and
the mode of taking them, as many of the trappers themselves. He is said
to have been in his prime the best judge of furs in America. He
appreciated the fact that no man can succeed in any business or
profession without fully understanding it, and he was too much
determined upon success to be satisfied with a superficial knowledge. He
was resolved that there should be no detail in the business, however
minute, with which he was unfamiliar, and he toiled patiently to acquire
information which most salesmen in his place would have esteemed
trivial. Nothing was trivial with him, however, and it is remarkable
that he never embarked in any scheme until he had mastered its most
trifling details. Few men have ever shown a deeper and more far-reaching
knowledge of their profession and the issues involved in it than he. He
fully understood that his knowledge would give him a power which a man
of less information could not obtain, and he never failed to use that
knowledge as a power. His instructions to his subordinates were always
drawn up with the strictest regard to details, and show not only how
thoroughly he had mastered the subject before him, but also how much
importance he attached to the conscientious fulfillment of a
well-digested plan of operations. He recognized no such thing as luck.
Every thing with him was the result of a deliberate plan based upon
knowledge. In this respect his career affords one of the best models to
be found in our history.

[Illustration: ASTOR'S FIRST TRIP FOR FURS.]

Astor's employer was not insensible to his merits, and soon promoted him
to a better place. In a little while the latter intrusted him with the
buying of the furs from the men who brought them to the store, and he
gave such satisfaction to his employer that he was rewarded with a still
more confidential post. Montreal was at that time the chief fur depot of
the country, and it was the custom of Mr. Bowne to make an annual
journey to that city for the purpose of replenishing his stock. The
journey was long and fatiguing, and as soon as the old gentleman found
that he could intrust the mission to his clerk, he sent him in his
place. Ascending the Hudson to Albany, Astor, with a pack on his back,
struck out across the country, which was then almost unsettled, to Lake
George, up which he passed into Lake Champlain. Sailing to the head of
the lake, he made his way to Montreal. Then returning in the same way,
he employed Indians to transport his furs from Lake George to Albany,
and dropped down the Hudson in the way he had come. Mr. Bowne was
delighted with the success of his clerk, who proved more than a match
for the shrewd Indians in his bargains. It was doubtless here that Mr.
Astor obtained that facility in "driving a hard bargain" for which he
was afterwards noted.

As soon as Mr. Astor felt himself master of his business, he left the
employ of Mr. Bowne, and began life on his own account. The field upon
which he purposed entering was extensive, but it was one of which he had
made a careful survey. Previous to the peace of 1763, the French and
English divided the control of the fur-bearing regions of America. The
British possessions, extending from Canada to the unexplored regions of
the North, had been granted by a charter of Charles II. to Prince
Rupert, and were, by virtue of that instrument, under the exclusive
control of the Hudson Bay Company. Large quantities of furs were
obtained in this region, and collected at the principal settlement, York
Factory, from which they were shipped to England.

South of this region was Canada, then possessed by the French, who
carried on an extensive trade with the Indians, who brought their furs
down to Montreal in their birch canoes. The French finally settled in
the country of the savages, and married among the natives,
thenceforward entirely devoting themselves to the life of the trapper
and hunter. These marriages produced a race of half-breeds who were
especially successful in securing furs. The cession of Canada to England
was a severe blow to the French traders, as it opened the country to the
enterprise of the English, a few of whom were quick to avail themselves
of its advantages. The French and Indians at first regarded them with
hostility, but gradually became reconciled to their presence.

Under the French rule the savages had not been furnished with liquors,
but the English soon sold whisky and rum in great quantities to them,
receiving the best furs in return. As a consequence, intemperance spread
rapidly among the savages, and threatened to put an end to their
industry as gatherers of furs. To check the evil results of this
irregular trading, a company was established in 1785, called the
North-west Company. It was managed by twelve partners, some of whom
resided at Montreal, and others at the trading posts in the interior.
Their chief station was at Fort William, on Lake Superior. Here, at
stated times, the agents would come up from Montreal and hold a
consultation for the purchase of furs. These meetings always drew crowds
of French and Indian trappers, boatmen, and others, who brought in large
quantities of skins.

A few years later a third company was organized, with its principal
station at Michilimackinac, near Lake Huron. It was called the Mackinaw
Company, and its field of operations was the country bordering Lake
Superior, and that lying between the Mississippi and the Rocky
Mountains. The company was English, but did not hesitate to operate in
American territory, so little regard did Great Britain pay to the rights
of the infant republic.

"Although peace had been concluded, the frontier forts had not been
given up. Oswego, Niagara, Detroit, Michilimackinac, and other posts
were still in the hands of the English. The Indian tribes continued
hostile, being under English influence. No company had as yet been
formed in the United States. Several French houses at St. Louis traded
with the Indians, but it was not until 1807 that an association of
twelve partners, with a capital of forty thousand dollars, was formed at
St. Louis, under the name of the Missouri Company.

"The trade, it will thus be seen, was almost wholly in the hands of the
English companies--the Hudson's Bay Company in the north, the North-west
Company in the Canadas, the Mackinaw Company in the territories of the
United States--and the few American traders in the field had to rely on
their individual resources, with no aid from a Government too feeble in
its infancy to do more than establish a few Indian agencies, and without
constitutional power to confer charter privileges."

The voyage of Captain Cook had brought to the notice of the fur dealers
of the world the sea otter of the northern Pacific, and the announcement
made upon the return of the expedition drew large numbers of adventurers
to the west coast of America, in search of the valuable skins of these
animals. In 1792, there were twenty-one vessels, principally American,
on the coast.

It was into this field, already occupied by powerful and hostile
corporations, that the young German entered. He was perfectly aware of
the opposition his efforts would encounter from them, but he was not
dismayed. He began business in 1786, in a small store in Water Street,
which he furnished with a few toys and notions suited to the tastes of
the Indians who had skins to sell. His entire capital consisted of only
a few hundred dollars, a portion of which was loaned him by his
brother. He had no assistants. He did all his own work. He bought his
skins, cured, beat, and sold them himself.

Several times during the year he made journeys on foot through western
New York, buying skins from the settlers, farmers, trappers, savages,
wherever he could find them. He tramped over nearly the entire State in
this way, and is said to have had a better knowledge of its geography
and topography than any man living.

"He used to boast, late in life, when the Erie Canal had called into
being a line of thriving towns through the center of the State, that he
had himself, in his numberless tramps, designated the sites of those
towns, and predicted that one day they would be the centers of business
and population. Particularly he noted the spots where Rochester and
Buffalo now stand, one having a harbor on Lake Erie and the other upon
Lake Ontario. He predicted that those places would one day be large and
prosperous cities; and that prediction he made when there was scarcely a
settlement at Buffalo, and only wigwams on the site of Rochester."

During these tramps his business in the city was managed by a partner,
with whom he was finally compelled to associate himself.

As soon as he had collected a certain number of bales of skins he
shipped them to London, and took a steerage passage in the vessel which
conveyed them. He sold his skins in that city at a fine profit, and
succeeded in forming business connections which enabled him afterward to
ship his goods direct to London, and draw regularly upon the houses to
which they were consigned. He also made an arrangement with the house of
Astor & Broadwood, in which his brother was a partner, by which he
became the agent in New York for the sale of their musical instruments,
a branch of his business which became quite profitable to him. He is
said to have been the first man in New York who kept a regular stock of
musical instruments on hand.

Slowly, and by unremitting industry, Mr. Astor succeeded in building up
a certain business. His personal journeys made him acquainted with the
trappers, and enabled him to win their good will. The savages sold their
skins to him readily, and he found a steady market and a growing demand
for his commodities in the Old World.

It was about this time that he married Miss Sarah Todd, of New York. She
was a connection of the Brevoort family, and was of better social
position than her husband. She entered heartily into his business, doing
much of the buying and beating of the furs herself. She was a true
helpmate to him, and long after he was a millionaire, he used to boast
of her skill in judging furs and conducting business operations.

In 1794, Jay's treaty placed the frontier forts in the hands of the
Americans, and thus increased the opportunities of our own traders to
extend their business. It was of the greatest service to Mr. Astor. It
enabled him to enlarge the field of his operations, and, at the same
time, to send his agents on the long journeys which he formerly made,
while he himself remained in New York to direct his business; which by
this time had grown to considerable proportions.

He was now on the road to wealth. He had scores of trappers and hunters
working for him in the great wilderness, and his agents were kept busy
buying and shipping the skins to New York. As soon as he was able to do
so he purchased a ship, in which he sent his furs to London,
occasionally making a voyage thither himself. He manifested the greatest
interest in the markets of the Old World, especially in those of Asia,
and informed himself so accurately concerning them that he was always
enabled to furnish his captains with instructions covering the most
minute detail of their transactions in those markets; and it is said
that he was never unsuccessful in his ventures there, except when his
instructions were disobeyed.

In this again, as in the fur trade, we see him patiently acquiring
knowledge of the eastern trade before venturing to engage in it. His
first step was always to fully comprehend his task, to examine it from
every possible point of view, so that he should be prepared to encounter
any sudden reverse, or ready to take advantage of good fortune. Here lay
the secret of his success--that he never embarked in an enterprise until
he had learned how to use it to advantage.

Under his skillful management his business grew rapidly; but he avoided
speculation, and confined himself to legitimate commerce. He was plain
and simple in his habits, carrying this trait to an extreme long after
economy had ceased to be necessary to him. He worked hard, indulged in
no pleasures except horseback exercise and the theater, of both which he
was very fond. It was only after he had amassed a large fortune that he
ever left his business before the close of the day. Then he would leave
his counting-room at two in the afternoon, and, partaking of an early
dinner, would pass the rest of the day in riding about the island. So
plain was his style of living that, before he became generally known as
a wealthy man, a bank clerk once superciliously informed him that his
indorsement of a note would not be sufficient, as it was not likely he
would be able to pay it in case the bank should be forced to call upon
him.

"Indeed," said Mr. Astor, "how much do you suppose I am worth?"

The clerk named a moderate amount, at which the merchant smiled
quietly.

"Would the indorsement of Mr. ----, or Mr. ----, be sufficient?" asked
Mr. Astor, naming several well-known merchants who lived in great style.

"Entirely sufficient," was the reply. "Each one of them is known to be
wealthy."

"How much do you think each is worth?"

The clerk named large sums in connection with each of the gentlemen.

"Well, my friend," said the merchant, "I am worth more than any of them.
I will not tell you how much I am worth, but it is more than any sum you
have named."

The clerk looked at him in surprise, and then said, bluntly, "Then you
are a greater fool than I took you for, to work as hard as you do."

Mr. Astor was very fond of telling this story, which he regarded as one
of the best jokes of the day.

All this time Mr. Astor had lived over his store, but in 1800, after he
had been in business fifteen years, he moved his dwelling to 223
Broadway, on the site of the Astor House of to-day. He lived here, with
one removal, for upwards of twenty-five years. The house was plain and
simple, but he was satisfied with it. He was now worth a quarter of a
million dollars, and his business was growing rapidly. The fur trade was
exceedingly profitable. A beaver skin could be bought from the trappers
in western New York for one dollar and sold in London for six dollars
and a quarter. By investing this amount in English manufactures, the six
dollars and a quarter received for the skin could be made to produce ten
dollars paid for the English goods in New York.

The Chinese trade was also very profitable. China was an excellent
market for furs. They brought high prices, and the proceeds could always
be invested in teas and silks, which sold well in New York. His profit
on a voyage would sometimes reach seventy thousand dollars, and the
average gain on a lucky venture of this kind was thirty thousand
dollars. The high prices produced by the war of 1812-15 were also in Mr.
Astor's favor. His ships were all remarkably lucky in escaping capture
by the enemy, and he was almost the only merchant who had a cargo of tea
in the market. Tea having reached double its usual price, he was enabled
to reap immense profits from his ventures.

Mr. Francis, in his _Old Merchants of New York_, makes the following
revelation of the manner in which Mr. Astor found it possible to carry
on such an immense business. He says:

"A house that could raise money enough, thirty years ago, to send
$260,000 in specie, could soon have an uncommon capital; and this was
the working of the old system. The Griswolds owned the ship Panama. They
started her from New York in the month of May, with a cargo of perhaps
$30,000 worth of ginseng, spelter, lead, iron, etc., and $170,000 in
Spanish dollars. The ship goes on the voyage, reaches Whampoa in safety
(a few miles below Canton). Her supercargo, in two months, has her
loaded with tea, some chinaware, a great deal of cassia, or false
cinnamon, and a few other articles. Suppose the cargo mainly tea,
costing about thirty-seven cents (at that time) per pound on the
average.

"The duty was enormous in those days. It was twice the cost of the tea,
at least; so that a cargo of $200,000, when it had paid duty of
seventy-five cents per pound (which would be $400,000), amounted to
$600,000. The profit was at least fifty per cent, on the original cost,
or $100,000, and would make the cargo worth $700,000.

"The cargo of teas would be sold almost on arrival (say eleven or
twelve months after the ship left New York in May), to wholesale
grocers, for their notes at four and six months--say for $700,000. In
those years there was _credit given by the United States_ of nine,
twelve, and eighteen months! So that the East India or Canton merchant,
after his ship had made one voyage, had the use of Government capital to
the extent of $400,000, on the ordinary cargo of a China ship.

"No sooner had the ship Panama arrived (or any of the regular East
Indiamen), than her cargo would be exchanged for grocers' notes for
$700,000. These notes could be turned into specie very easily, and the
owner had only to pay his bonds for duty at nine, twelve, and eighteen
months, giving him time actually to send two more ships, with $200,000
each, to Canton, and have them back again in New York before the bonds
on the first cargo were due.

"John Jacob Astor, at one period of his life, had several vessels
operating in this way. They would go to the Pacific, and carry furs from
thence to Canton. These would be sold at large profits. Then the cargoes
of tea to New York would pay enormous duties, which Astor did not have
to pay to the United States for a year and a half. His tea cargoes would
be sold for good four and six months paper, or perhaps cash; so that,
for eighteen or twenty years, John Jacob Astor had what was actually a
free-of-interest loan from Government of over _five millions_ of
dollars."

It is estimated that Mr. Astor made about two millions of dollars by his
trade in furs and teas. The bulk of his immense fortune was made by
investments in real estate. His estate was estimated at twenty millions
of dollars at the time of his death, and has now increased to over forty
millions. He had a firm faith in the magnificent future of New York as
the greatest city of the continent, and as fast as his gains from his
business came in, they were regularly invested in real estate. A part
was expended in leasing for a long period property which the owners
would not sell, and the rest in buying property in fee simple. These
leases, some of which have but recently expired, were extremely
profitable. In his purchases of land Mr. Astor was very fortunate. He
pursued a regular system in making them. Whenever a favorable purchase
could be made in the heart of the city, he availed himself of the
opportunity, but as a rule he bought his lands in what was then the
suburb of the city, and which few besides himself expected to see built
up during their lifetime. His sagacity and foresight have been more than
justified by the course of events. His estate now lies principally in
the heart of New York, and has yielded an increase greater even than he
had ventured to hope for. Seventy hundred and twenty houses are said to
figure on the rent roll of the Astor estate at present, and besides
these are a number of lots not yet built upon, but which are every day
increasing in value. "When Mr. Astor bought Richmond Hill, the estate of
Aaron Burr, he gave one thousand dollars an acre for the hundred and
sixty acres. Twelve years later, the land was valued at fifteen hundred
dollars per lot."

In 1810, he sold a lot near Wall Street for eight thousand dollars. The
price was so low that a purchaser for cash was found at once, and this
gentleman, after the sale, expressed his surprise that Mr. Astor should
ask only eight thousand for a lot which in a few years would sell for
twelve thousand.

"That is true," said Mr. Astor, "but see what I intend doing with these
eight thousand dollars. I shall buy eighty lots above Canal Street, and
by the time your one lot is worth twelve thousand dollars, my eighty
lots will be worth eighty thousand dollars."

His expectations were realized.

During the war of the Revolution, Roger Morris and his wife, Mary, of
Putnam County, were obliged to flee from the country to England for
adhering to the cause of King George, and, being attainted by the
authorities as public enemies, their immense estate, consisting of
fifty-one thousand one hundred and two acres, was seized by the State of
New York, and sold in small parcels to farmers, who believed the title
thus acquired valid. In 1809, there were upwards of seven hundred
families residing on this land. Mr. Astor, having learned that Roger and
Mary Morris possessed only a life interest in their property, and having
ascertained to his satisfaction that the State could not confiscate the
rights of the heirs, purchased their claim, which was good not only for
the land, but for all the improvements that had been put upon it. He
paid twenty thousand pounds sterling for it. A few years previous to the
death of Mrs. Morris, who survived her husband some years, Mr. Astor
presented his claim. The occupants of the land were thunderstruck, but
the right was on his side. The State of New York had simply robbed the
heirs of their rights. There was no weak point in the claim. Having
given defective titles to the farmers, the State was of course
responsible for the claim; and upon finding out their mistake, the
authorities asked Mr. Astor to name the sum for which he would be
willing to compromise. The lands were valued at six hundred and
sixty-seven thousand dollars, but Mr. Astor expressed his willingness to
sell for three hundred thousand dollars. His offer was refused. In 1819,
a second proposition was made to Mr. Astor by the Legislature of the
State. He replied: "In 1813 or 1814 a similar proposition was made to me
by the commissioners then appointed by the Honorable the Legislature of
this State when I offered to compromise for the sum of three hundred
thousand dollars, which, considering the value of the property in
question, was thought very reasonable, and, at the present period, when
the life of Mrs. Morris is, according to calculation, worth little or
nothing, she being near eighty-six years of age, and the property more
valuable than it was in 1813. I am still willing to receive the amount
which I then stated, with interest on the same, payable in money or
stock, bearing an interest of -- per cent., payable quarterly. The stock
may be made payable at such periods as the Honorable the Legislature may
deem proper. This offer will, I trust, be considered as liberal, and as
a proof of my willingness to compromise on terms which are reasonable,
considering the value of the property, the price which it cost me, and
the inconvenience of having so long _lain out_ of my money, which, if
employed in commercial operations, would most likely have produced
better profits."

This offer was not accepted by the Legislature, and the cause was
delayed until 1827, when it was brought before the courts. It was argued
by such men as Daniel Webster and Martin Van Buren, on the part of the
State, and by Thomas Addis Emmett, Ogden, and others for Astor. The
State had no case, and the matter was decided in Astor's favor. Then the
State consented to compromise. The famous Astor stock, which paid that
gentleman about five hundred thousand dollars, was issued, and the
titles of the possessors of the lands confirmed.

The most important of all of Mr. Astor's undertakings was his effort at
founding the settlement of Astoria, on the coast of Oregon. This
enterprise has been made so familiar to the majority of readers by the
pen of Washington Irving, that I can only refer to it here. "His
design," says a writer of thirteen years ago, "was to organize and
control the fur trade from the lakes to the Pacific, by establishing
trading posts along the Missouri and Columbia to its mouth. He designed
establishing a central depot and post at the mouth of the Columbia. He
proposed sending regular supply-ships to the Pacific posts around the
Horn. By these, stores were to be sent also to the Russian
establishments. It was part of his plan, if possible, to obtain
possession of one of the Sandwich Islands as a station, for from the
Pacific coast he knew that the Chinese market for his peltries could be
most conveniently reached, and thus the necessity for a long and
circuitous voyage be avoided. Instead of bringing the furs intended for
China to New York, they could be sent from the Pacific. By the
supply-ships, too, the stock of goods suitable for the Indian trade
would be kept up there, and the cargoes purchased with the proceeds of
the furs sold in China brought back to New York. The line of posts
across the continent would become a line of towns; emigration would
follow, and civilization would belt the continent.

"In this grand scheme, Mr. Astor was only anticipating the course of
events which, fifty years later, we are beginning to witness. When he
laid his plans before the Government, Mr. Jefferson, who was then
President, 'considered as a great acquisition,' as he afterward
expressed himself in a letter to Mr. Astor, 'the commencement of a
settlement on the western coast of America, and looked forward with
gratification to the time when its descendants should have spread
themselves through the whole length of that coast, covering it with free
and independent Americans, unconnected with us except by ties of blood
and interest, and enjoying, like us, the rights of self-government.'
Even Jefferson's mind, wide as it was, could not take in the idea of a
national unity embracing both ends of the continent; but not so thought
Astor. The merchant saw farther than the statesman. It was precisely
this political unity which gave him hope and chance of success in his
worldwide schemes. When the Constitution was adopted, the chief source
of apprehension for its permanence with men like Patrick Henry, and
other wise statesmen, was the extent of our territory. The Alleghanies,
it was thought, had put asunder communities whom no paper constitution
could unite. But at that early day, when Ohio was the far West, and no
steamboat had yet gone up the Mississippi, Astor looked beyond the Ohio,
beyond the Mississippi, and the Rocky Mountains, and saw the whole
American territory, from ocean to ocean, the domain of one united
nation, the seat of trade and industry. He saw lines of trading posts
uniting the Western settlements with the Pacific; following this line of
trading posts, he saw the columns of a peaceful emigration crossing the
plains, crossing the mountains, descending the Columbia, and towns and
villages taking the places of the solitary posts, and cultivated fields
instead of the hunting-grounds of the Indian and the trapper.

"No enterprise, unless it be the Atlantic telegraph, engages more deeply
the public attention than a railroad communication with the Pacific
coast.[A] The rapid settlement of Oregon and California, the constant
communication by steam to the Pacific coast, render it easy now to feel
the nearness of that region, and the oneness of the nationality which
covers the continent. But to Astor's eye the thing was as palpable then
as now. And yet but two or three attempts had then been made to explore
the overland routes."

It would be deeply interesting to examine the details of this fast
scheme of colonization and trade, for it is certain that Mr. Astor was
as anxious to do an act which, by building up the continent, should hand
his name down to posterity as a national benefactor, as to increase his
business; but the limits of this article forbid more than a mere glance
at the subject.

[Footnote A: The reader will bear in mind that the above extract was
written in 1857.]

A company was formed, at the head of which stood Mr. Astor, and an
elaborate and carefully-arranged plan of operations prepared. Two
expeditions were dispatched to the mouth of the Columbia, one by land
and the other by sea. Many hardships were encountered, but the
foundation of a settlement was successfully made on the Columbia. In
spite of the war with England (1812-15), which now occurred, the
enterprise would have been successful had Mr. Astor's positive
instructions been obeyed. They were utterly disregarded, however, and
his partners and agents not only betrayed him in every instance, but
sold his property to a rival British company for a mere trifle. His
pecuniary loss was over a million of dollars, and his disappointment
bitter beyond expression. When the enterprise was on the point of
failure, and while he was still chafing at the conduct of his
treacherous subordinates, he wrote to Mr. Hunt, the most faithful of all
his agents: "Were I on the spot, and, had the management of affairs, I
would defy them all; but as it is, every thing depends on you and your
friends about you. Our enterprise is grand, and deserves success, and I
hope in God it will meet it. _If my object was merely gain of money_, I
should say, think whether it is best to save what we can, and abandon
the place; but the very idea is like a dagger to my heart." When the
news of the final betrayal reached him, he wrote to the same gentleman:
"Had our place and property been fairly captured, I should have
preferred it; I should not feel as if I were disgraced."

Mr. Astor remained in active business for fifty years. During that
entire period he scarcely committed an error of judgment which led to a
loss in business. He was thorough master of every thing pertaining to
his affairs, and his strength and accuracy of judgment was remarkable.
The particulars of his transactions were indelibly impressed upon his
mind. His intellect was vigorous and quick, and he grasped a subject
with a readiness which seemed like intuition. He was always careful of
the present, but he loved to undertake enterprises which extended far
into the future. He was a man of the utmost punctuality in all his
habits. He rose early, and, until he was fifty-five years old, was
always in his office before seven o'clock. His capacity for work was
very great, so that, in spite of his heavy labors, he was always able to
leave his office by two o'clock, while many of his associates, who
really did less than he, were compelled to remain in their
counting-rooms until four or five. He was noted for his unvarying
calmness, which he doubtless owed to his German temperament. In the
midst of disaster and loss he was cooler and more cheerful than ever. To
those who chafed at their troubles, he would say, smilingly, "Keep
quiet; keep cool." This was his safeguard.

He was a devoted citizen of the United States, and, though he took no
active interest in politics, was a steady supporter of the Whig party.
Henry Clay was his personal friend, and his last donation to any
political cause was a subscription of fifteen hundred dollars to aid the
election of his old friend to the Presidency.

About the year 1830, Mr. Astor, now the possessor of millions, began to
withdraw from active business, confining his efforts chiefly to such
investments as the management of his immense estate made necessary. He
now put into execution an enterprise which he had long cherished. When a
poor stranger in the city, he had once stopped in Broadway to notice a
row of buildings which had just been erected, and which were considered
the finest in the street, and had then made a vow that he would one day
build a larger and finer house than any in Broadway. He now set to work
to carry out the plan he had cherished ever since. He owned the entire
block on Broadway, between Vesey and Barclay streets, with the
exception of one house, which was the property of a Mr. Coster, a
merchant who had amassed a large fortune and retired from business. Mr.
Astor made him many offers for his house, but the old gentleman was
unwilling to remove. Mr. Astor offered him the full value of his house,
which was thirty thousand dollars, and increased the bid to forty
thousand, but Mr. Coster was obstinate. At length Mr. Astor, in despair,
was compelled to reveal his plan to his neighbor.

"I want to build a hotel," said he. "I have got all the other lots. Now
name your own price."

Mr. Coster replied that he would sell for sixty thousand dollars if his