The Continental Monthly, Vol. 2, No. 2, August, 1862: Devoted to Literature and National PolicyVarious
History
The Continental Monthly, Vol. 2, No. 2, August, 1862: Devoted to Literature and National Policy
Various
Literature, Modern -- 19th century -- Periodicals; United States -- Politics and government -- 19th century -- Periodicals
Mr. Astor's profits rolled in upon him at a rate which no one could have
dreamed of, and he kept their amount a secret until he had so penetrated
the frontier by his agencies that he controlled the whole trade, when he
occasionally acknowledged a degree of wealth which astonished those who
heard. For instance, we may state this fact in illustration: He had
occasion at a certain time to use a large amount of cash, and what was
very rare with him, applied to his bank for a heavy discount. The
unusual circumstance and the sum demanded startled the cashier, who in a
plain, business way, put the question: 'Mr. Astor, how much do you
consider yourself worth?' '_Not less than a million_,' was the reply. _A
million_! the cashier was overwhelmed. He supposed that he knew all his
customers, and had rated Astor at hardly more than one tenth of that
sum.
Mr. Astor commenced at an early day to buy real estate, and the habit
grew upon him until it became a passion. He was for years a leading
character at sheriff and other land sales, and it was the commonest
thing at such places to hear the closing words of the auctioneer: 'Last
call--going, going--gone--to John Jacob Astor.' At that time many large
estates were broken up, and among others, that of Aaron Burr was put
into the market, and speedily became the property of Mr. Astor. It
embraced a small suburban principality, whose mansion, 'Richmond Hill,'
was Burr's country-seat. The whole property is now in the heart of the
city and is worth millions, where once it brought thousands. Mr. Astor
boldly bought those wild lands, including swamps, rocky knolls, and
barren commons, which lay at waste from Canal street onward to
Bloomingdale, and while others affected to laugh at his judgment, the
correctness of that judgment is now quite apparent. A case similar in
character is that of the late eccentric Jonathan Hunt. This man, who had
accumulated a vast fortune South, was quite noted, a few years ago, for
his dashing land purchases in New-York, and his relatives actually
served on him a warrant _de lunatico inquirendo_, with a view of
preventing him from wasting his estate. Subsequently, however, it turned
out that these incessant purchases which had made him a leading man at
the Merchants' Exchange, and an object of distrust to his family, were
splendid operations. Poor Hunt's bid was subsequently refused by the
auctioneers, on the score of insanity, while the lots he bought on
Madison avenue and elsewhere, were, in fact, as speculations, superior
to the operations of the most sagacious speculators.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account