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Updated: May 20, 2025
And here it is necessary to digress from the narrative of Astor's land transactions and advert to his banking activities, for it was by reason of these subordinately, as well as by his greater trade revenues, that he was enabled so successfully to pursue his career of wealth-gathering.
Neither was there any essential difference between Astor's methods and those of the manufacturing capitalists of the North who remorselessly robbed Charles Goodyear of the benefits of his discovery of vulcanized rubber and who drove him, after protracted litigation, into insolvency, and caused him to die loaded down with worries and debts, a broken-down man, at the age of 60.
Everything that they needed they had to buy at Astor's stores; by the time that they had bought a year's supplies they not only had nothing coming to them, but they were often actually in debt to Astor. But Astor how did he fare? His profits from the fur trade of the West were truly stupendous for that period.
Astor's most unpopular and even odious cause was triumphant. Warned by this verdict, the Legislature consented to compromise on Mr. Astor's own terms. The requisite amount of "Astor stock," as it was called, was created. Mr. Astor received about half a million of dollars, and the titles of the lands were secured to their rightful owners. The crowning glory of Mr.
In the light of subsequent developments, it is a matter for speculation whether these Nor'westers joined Astor purposely to overthrow his scheme in the interests of their old company; or were later bribed to desert him; or, as is most likely, simply grew dissatisfied with the inexperienced, blundering mismanagement of Astor's company, and reverted gladly to their old service.
The fates were certainly kind to me or rather the British Consul was efficient; and before night I had secured the use of a powerful Burgess-Dunne aeroboat, the property of Vincent Astor; also Mr. Astor's skilful services as pilot, which he generously offered through his interest in naval affairs and because of his desire to give the world this first account of a sea battle observed from the sky.
In Mrs. William Astor's spacious ball-room and picture gallery, balls have been given, each costing, it is said, $100,000. In cream and gold the picture gallery spreads; the walls are profuse with costly paintings, and at one end is a gallery in wrought iron where musicians give out melody on festive occasions. The dining rooms of these houses are of an immensity.
The great secret of Astor's early, rapid, and uniform success in business appears to have been, that he acted always upon the maxim that KNOWLEDGE IS POWER! He labored unceasingly at Mr. Bowne's to learn the business. He put all his soul into the work of getting a knowledge of furs, fur-bearing animals, fur-dealers, fur-markets, fur-gathering Indians, fur-abounding countries.
While at the outposts, and in the depths, of the Western wilderness an armed host was working and cheating for Astor, and, in turn, being cheated by their employer; while, for Astor's gain, they were violating all laws, debauching, demoralizing and beggaring entire tribes of Indians, slaying and often being themselves slain in retaliation, what was the beneficiary of this orgy of crime and bloodshed doing in New York?
Doubtless, Astor had the best of reasons for not explaining that payment; Cass was, or had been, the Governor of Michigan Territory, and he became the identical Secretary of War to whom so many complaints of the crimes of Astor's American Fur Company were made. The author personally inspected these ledgers.
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