Great Fortunes, and How They Were MadeMcCabe, James Dabney
History
Great Fortunes, and How They Were Made
McCabe, James Dabney
United States -- Biography
This offer was not accepted by the Legislature, and the cause was
delayed until 1827, when it was brought before the courts. It was argued
by such men as Daniel Webster and Martin Van Buren, on the part of the
State, and by Thomas Addis Emmett, Ogden, and others for Astor. The
State had no case, and the matter was decided in Astor's favor. Then the
State consented to compromise. The famous Astor stock, which paid that
gentleman about five hundred thousand dollars, was issued, and the
titles of the possessors of the lands confirmed.
The most important of all of Mr. Astor's undertakings was his effort at
founding the settlement of Astoria, on the coast of Oregon. This
enterprise has been made so familiar to the majority of readers by the
pen of Washington Irving, that I can only refer to it here. "His
design," says a writer of thirteen years ago, "was to organize and
control the fur trade from the lakes to the Pacific, by establishing
trading posts along the Missouri and Columbia to its mouth. He designed
establishing a central depot and post at the mouth of the Columbia. He
proposed sending regular supply-ships to the Pacific posts around the
Horn. By these, stores were to be sent also to the Russian
establishments. It was part of his plan, if possible, to obtain
possession of one of the Sandwich Islands as a station, for from the
Pacific coast he knew that the Chinese market for his peltries could be
most conveniently reached, and thus the necessity for a long and
circuitous voyage be avoided. Instead of bringing the furs intended for
China to New York, they could be sent from the Pacific. By the
supply-ships, too, the stock of goods suitable for the Indian trade
would be kept up there, and the cargoes purchased with the proceeds of
the furs sold in China brought back to New York. The line of posts
across the continent would become a line of towns; emigration would
follow, and civilization would belt the continent.
Public-domain text, read in full here on John Shaqi.
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