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 about this time that he married Miss Sarah Todd, of New York. She
was a connection of the Brevoort family, and was of better social
position than her husband. She entered heartily into his business, doing
much of the buying and beating of the furs herself. She was a true
helpmate to him, and long after he was a millionaire, he used to boast
of her skill in judging furs and conducting business operations.
In 1794, Jay's treaty placed the frontier forts in the hands of the
Americans, and thus increased the opportunities of our own traders to
extend their business. It was of the greatest service to Mr. Astor. It
enabled him to enlarge the field of his operations, and, at the same
time, to send his agents on the long journeys which he formerly made,
while he himself remained in New York to direct his business; which by
this time had grown to considerable proportions.
He was now on the road to wealth. He had scores of trappers and hunters
working for him in the great wilderness, and his agents were kept busy
buying and shipping the skins to New York. As soon as he was able to do
so he purchased a ship, in which he sent his furs to London,
occasionally making a voyage thither himself. He manifested the greatest
interest in the markets of the Old World, especially in those of Asia,
and informed himself so accurately concerning them that he was always
enabled to furnish his captains with instructions covering the most
minute detail of their transactions in those markets; and it is said
that he was never unsuccessful in his ventures there, except when his
instructions were disobeyed.
In this again, as in the fur trade, we see him patiently acquiring
knowledge of the eastern trade before venturing to engage in it. His
first step was always to fully comprehend his task, to examine it from
every possible point of view, so that he should be prepared to encounter
any sudden reverse, or ready to take advantage of good fortune. Here lay
the secret of his success--that he never embarked in an enterprise until
he had learned how to use it to advantage.
Public-domain text, read in full here on John Shaqi.
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