The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1865-07-03
JOHN JACOB AST0R.
How the Richest Man I'm America
Acquired his Colossal Forfune-In-
teresting Sketch Of his Life-Anec.
dotes, sc.
TCONCLCsION.1

teresting Sketch Of his Life-Anec.
dctes, SC.
[coNcLUsIoN.]
HOW HE BECAME so ENORMOUSLY RICH
is an interesting question, for after 4
sixty years business career and an accu-
mutation of twenty million dollars,
probably not more than two millions
were the fruit of his business az II fur
trader and China merchant. At that day
the fur trade was exceedingly profitable
as we'll as ofrNst extent. Ii is estimated
that about tho year 1890 TIC numher Of
pe,tries annually furnished = commerce
was about six mI!l.ons yalying in value
from fifteen ceuts to five hundred dollars.
When every respectable man in Europe
and America wore beaver skin upon
his head, ora part of Que; and when a
good beaver skin could I've bought in
Western New York for dollars QOur
English sEillings) worth of trash, and
could I've SOLD III in London for twenty
five English slIillings; and when those
twenty-five English shilliugs could be
invested in English cloth and cutlery and
sold in New York for the equivalent of
forty English shillings, it may be i'm
agined that fur trading was a very good
business. Mr. Aston had his share of the
cream of it, and that was the foundation
of his colossal fortune. Hence, too, the
tender love he felt for fine fur. In the
next place his ventures to China were
sometimes exceedingly fortunate. A fair
profit on voyage to China at that time
was thirty thousand dollars. Mr.. AStor
has been known to gain seventy thousand
and to have his money in his pocket
within the year He had, too, at one
period of his life, several vessels oper-
ating in this way They would 60 to
the Pacific (Oregon) and carry from
thence furs TO Canton. These would he
sold at I.,rge profits. Then the cargoes of
tea hence to New York would pay enor-
nous duties, which AStCrdid not have to
pay to the United States for year and q
half His tea cargoes would be sold for
good four and six months paper, or per
haps cash; so that Cor eighteen or TWEEN
ty years John Jacob Astor had what was
actually q free-of-interest loan from the
government of over five millions of dol
lars. But it was neither his tea trade
nor his fur trade that gave Aston twenty
millions of dollars. 1t was his sagacity
in investing profits that made him the
richest man in America. He sold u lot
N the vicinity of Wall street for eight
thousand dollars, which was supposed to
be- rnder its value. The purchaser, after
the papers were signed, seemed disposed
to- chuckle over his bargain.
why, Mr.. Astor," said he. ''in few
years this lot will be worth twelve thou
sand dollars"
Very true" replied Mr. Aston: "but
yoG shall see what l will do with my
money. With eight thousand dollars |
buy eighty lots above Canal street. BY
the time your lot is worth twelve thou
sand, my eighty lots will be worth eighty
thousand dollars"-which proved to be
the fact In the course of time the whole
of Manhattan Island was dotted over
with Aston lands. Passing by one of his
land speclations by which he acquired
legal title to one-third of the comfy Of
Putnam, in this State, we come to his
greatest enterprise, which Washington
Irving has COMMUNICATED i'll Astoria"
To establish line of trading posts from
ST. Louis to the Pacific--to found per-
manent settlement on the Pacific coast as
the grand depot of furs and supplies--to |
arrange plan by which the furs collect
ed should he regularly transferred to
China, and the ships return to New York |
laden with tea and silks, and then pro-
coed once more to the Pacific coast to re- |
peat the circuit, was IN enterprise which |
had been memorable even if it had been |
undertaken by wealthy corporation or |
powerful government. The war of
1912 foiled the enterprise "But for that |
war;" Mr.. Aston used to say, IL should |
have been the richest man in America" |
He was an active business man in New
York city for about forty-six years-from |
his twenty first to his sixty -seventh year
aToward the year 1880 he began to retire |
I from business. His three daughters were
married His son and heir was man of |
thirty. He was fond of the society of |
literary men Washington Irving and |
Fitz Greene Halleck he liked to have at |
his house, and made much of them. The |
latter at last permanently resided with |
him, aud took charge of his affairs. to
the old geltlemau's entire satisfaction.-I
Having retired from business he deter |
mined to build on Broadway house
larger and costlier than any it could then |
boast Behold the result in
THE AsToR HOUSE,
which remains TO this day one of the |
most solid aud imposing structures in the |
city. the ground on which the hotel |
stands WAS covered with substantial |
houses. Old Mr.. Coster, retired mer-
chant OF great wealth, lived in one of |
them aGd was extremely indisposed to |
remove His house was worth thirty |
: tl,ousa,.2 dollars. Before he could be |
mn vailed upon to sell, Mr.. Astor had to |
aiyDIhim S600a0 for IT, The roll book of |
his possessioNs ROW became to Mr. Aston
lia bible If at fifty he possessed his
l1frG6s, now, at sixty.fve, bis millions
pSssessed him. He was ever considerate |
for the b @fort of his imbecile son. One
Of his last enterprises was to build for
him commodious residence In 1882,
one Of his daughters having married "a |
European nobleman. he allowed himself |
the pleasure of visit to her, and Ie-.
manned abroad until 1885. During the
last few years of his life his faculties |
were scnsibly impaired; he was . child
again -: &. 49,
THE Aston LIBRARYsg