History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial TimesMyers, Gustavus
History
History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial Times
Myers, Gustavus
United States -- Economic conditions; Wealth -- United States
What a climax of trading methods, first to debauch the Indians
systematically in order to swindle them, and then make a large revenue
on the rum that enabled the company to do it! Undoubtedly it was by
these means that Astor became possessed of large tracts of land in
Wisconsin and elsewhere in the West. But the methods thus far enumerated
were but the precursors of others. When the Indians were made maudlin
drunk and bargained with for their furs were they paid in money? By no
means. The American Fur Company had another trick in reserve. Astor
employed the cunning expedient of exchanging merchandise for furs. Large
quantities of goods, especially woolens, made by underpaid adult and
child labor in England and America, and representing the sweat and
suffering of the labor of the workers, were regularly shipped by him to
the West. For these goods the Indians were charged one-half again or
more what each article cost after paying all expenses of
transportation.[83] Reporting from St. Louis, Oct. 24, 1831, in a
communication to the Secretary of War, Thomas Forsyth gave a description
of this phase of the American Fur Company's dealings. He said:
In the autumn of every year [when the hunting season began] the
trader carefully avoids giving credit to the Indians on many
costly articles such as silver works, wampum, scarlet cloth, fine
bridles, etc., etc., as also a few woolens, such as blankets,
strouds, etc., unless it be to an Indian whom he knows will pay
all his debts. In that case he will allow the Indian, on credit,
everything he wishes.
Traders always prefer giving credit on gunpowder, flints, lead,
knives, tomahawks, hoes, domestic cottons, etc.; which they do _at
the rate of 300 or 400 per cent_, and if one-fourth of the price
of these articles be paid, he is amply remunerated.[84]
Public-domain text, read in full here on John Shaqi.
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