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

* An instance of this buoyant confidence, which no doubt aided to produce the success it anticipated, we have from the lips of Mr. A. himself. While yet almost a stranger in the city, and in very narrow circumstances, he passed by where a row of houses had just been erected in Broadway, and which, from the superior style of their architecture, were the talk and boast of the city. "I'll build, one day or other, a greater house than any of these, in this very street," said he to himself. He has accomplished his prediction.

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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

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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.

CHAPTER III.

FUR TRADE IN THE PACIFIC.-AMERICAN COASTING VOYAGES.-RUSSIAN ENTERPRISES.-DISCOVERY OF THE COLUMBIA RIVER.-CARVER'S PROJECT TO FOUND A SETTLEMENT THERE.-MACKENZIE'S EXPEDITION.-LEWIS AND CLARKE'S JOURNEY ACROSS THE ROCKY MOUNTAINS.-MR. ASTOR'S GRAND COMMERCIAL SCHEME.-HIS CORRESPONDENCE ON THE SUBJECT WITH MR. JEFFERSON.-HIS NEGOTIATIONS WITH THE NORTHWEST COMPANY.-HIS STEPS TO CARRY HIS SCHEME INTO EFFECT.

HILE the various companies we have noticed were pushing their enterprises far and wide in the wilds of Canada, and along the course of the great western waters, other adventurers, intent on the same objects, were traversing the watery wastes of the Pacific and skirting the northwest coast of America. The last voyage of that renowned but unfortunate discoverer, Captain Cook, had made known the vast quantities of the sea-otter to be found along that coast, and the immense prices to be obtained for its fur in China. It was as if a new gold coast had been discovered. Individuals from various countries dashed into this lucrative traffic, so that in the year 1792, there were twenty-one vessels under different flags, plying along the coast and trading with the natives. The greater part of them were American, and owned by Boston merchants. They generally remained on the coast and about the adjacent seas, for two years, carrying on as wandering and adventurous