Great Fortunes, and How They Were MadeMcCabe, James Dabney
History
Great Fortunes, and How They Were Made
McCabe, James Dabney
United States -- Biography
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.
Public-domain text, read in full here on John Shaqi.
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