In connection with the Bowery Amphitheatre, the information came to him that the collection of curiosities comprising Scudder's American Museum, at the corner of Broadway and Ann Streets, was for sale. The original proprietor had spent $50,000 on it, and at his death had left a large fortune as the result of the speculation. It was now losing money and the heirs offered it for sale, at the low price of $15,000. Realizing that with tact, energy, and liberality, the business might be made as profitable as ever, Barnum resolved to buy it. "You buy the American Museum!" exclaimed a friend to whom he confided the scheme. "What will you buy it with?" "With brass," answered Barnum, "for silver and gold have I none." And buy it with brass he did, as the story of the transaction testifies. The Museum building belonged to Mr. Francis W. Olmsted, a retired merchant, to whom he wrote, stating his desire to buy the collection, and that although he had no means, if it could be purchased upon reasonable credit, he was confident that his tact and experience, added to a determined devotion to business, would enable him to make the payments when due. Barnum therefore asked him to purchase the collection in his own name; to give a writing securing it to Barnum, provided he made the payments punctually, including the rent of his building; to allow Barnum twelve dollars and a half a week on which to support his family; and if at any time he failed to meet the installment due, he would vacate the premises, and forfeit all that might have been paid to that date. "In fact, Mr. Olmsted." Barnum continued, earnestly, "you may bind me in any way, and as tightly as you please--only give me a chance to dig out, or scratch out, and I will do so or forfeit all the labor and trouble I may have incurred." In reply to this letter, which Barnum took to his house himself, Mr. Olmsted named an hour when he could call on him. Barnum was there at the exact moment, and Olmsted was pleased with his punctuality. He inquired closely as to Barnum's habits and antecedents, and the latter frankly narrated his experiences as a caterer for the public, mentioning his amusement ventures in Vauxhall Garden, the circus, and in the exhibitions he had managed at the South and West. "Who are your references?" Olmsted inquired. "Any man in my line," Barnum replied, "from Edmund Simpson, manager of the Park Theatre, or William Niblo, to Messrs. Welch, June, Titus, Turner, Angevine, or other circus or menagerie proprietors; also Moses Y. Beach, of the New York Sun." "Can you get any of them to call on me?" Barnum told him that he could, and the next day Mr. Niblo rode down and had an interview with Mr. Olmsted, while Mr. Beach and several other gentlemen also called. The following morning Barnum waited upon him for his decision. "I don't like your references, Mr. Barnum," said Mr. Olmsted, abruptly, as soon as he entered the room. Barnum was confused, and said, "he regretted to hear it."