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Updated: May 20, 2025
But a heavier blow was inflicted in the establishment of John Jacob Astor's American Fur Company, which was given a substantial monopoly of Indian commerce. From its headquarters on Mackinac Island this great corporation rapidly squeezed the clandestine British agents out of the American trade, introduced improved methods, and built up a system which covered the entire fur-bearing Northwest.
And above all, Astor in common with his class, made the most valuable asset of Law, whether exploiting the violation, or the enforcement, of it. If we are to accept the superficial, perfunctory accounts of Astor's real estate investments in New York City, then he will appear in the usual eulogistic light of a law-loving, sagacious man engaged in a legitimate enterprise.
"of Astor's bequest reached Waldorf only in 1850, when a nephew of Mr. Astor's and one of the executors of his will appeared from New York in the testator's native town with power to pay over the money to the proper persons. He kept himself mostly in Heidelberg, and organized a supervisory board to aid in the disposition of the funds in accordance with the testator's intentions.
Another house, which was then engaged in the China trade, knowing the worth of this "king of captains," as Astor himself used to style him, bought him a ship and despatched him to Canton two months after the departure of Astor's vessel.
Just before she sank, some of the refugees say, the ship broke in two abaft the engine room after the bulkhead explosions had occurred. To Colonel Astor's death Philip Mock bears this testimony. "Many men were hanging on to rafts in the sea. William T. Stead and Colonel Astor were among them. Their feet and hands froze and they had to let go. Both were drowned."
Astor's mercantile career was that vast and brilliant enterprise which Washington Irving has commemorated in "Astoria." No other single individual has ever set on foot a scheme so extensive, so difficult, and so costly as this; nor has any such enterprise been carried out with such sustained energy and perseverance. To establish a line of trading-posts from St.
M'Dougal, who now considered himself at the head of the concern, as Mr. Astor's representative and proxy. Not having the captain to contend with, they soon pitched upon a spot which appeared to them favorable for the intended establishment.
John Jacob Astor's ships had come round the Horn from New York and, sailing right into the Russian hunting-grounds, were endeavoring to make arrangements to furnish supplies to the Russians in exchange for cargoes of the fur-seals, whose rookeries had been discovered about the time sea-otter began to be scarce.
The middleman landlord, speculative lessee or trading tenant who leased Astor's land and put up tenements or buildings, necessarily had to recoup himself for the high tribute that he had to pay to Astor. He did this either by charging the worker exorbitant rents or demanding excessive profits for his wares; in both of which cases the producers had finally to foot the bill.
At the mouth of the Snake River, on July 9, he erected a pole, on which he hoisted a flag and attached a sheet of paper claiming possession of the country for Great Britain and the North-West Company. A month later, when Astor's traders came up-stream from the mouth of the Columbia, they were amazed to find a British flag 'waving triumphantly' at this spot.
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