. Had he
accepted this offer, and re-invested the amount in nankeens, which at
that time, in consequence of the interruption to commerce by the war,
were at two thirds of their usual price, the whole would have brought
three hundred thousand dollars in New York. It is true, the war would
have rendered it unsafe to attempt the homeward voyage, but he might
have put the goods in store at Canton, until after the peace, and have
sailed without risk of capture to Astoria; bringing to the partners at
that place tidings of the great profits realized on the outward cargo,
and the still greater to be expected from the returns. The news of such
a brilliant commencement to their undertaking would have counterbalanced
the gloomy tidings of the war; it would have infused new spirit into
them all, and given them courage and constancy to persevere in the
enterprise. Captain Sowle, however, refused the offer of one hundred
and fifty thousand dollars, and stood wavering and chaffering for
higher terms. The furs began to fall in value; this only increased
his irresolution; they sunk so much that he feared to sell at all; he
borrowed money on Mr. Astor's account at an interest of eighteen per
cent., and laid up his ship to await the return of peace.

In the meanwhile, Mr. Hunt soon saw reason to repent the resolution he
had adopted in altering the destination of the ship. His stay at the
Sandwich Islands was prolonged far beyond expectation. He looked in
vain for the annual ship in the spring. Month after month passed by,
and still she did not make her appearance. He, too, proved the danger of
departing from orders. Had he returned from St. Paul's to Astoria, all
the anxiety and despondency about his fate, and about the whole course
of the undertaking, would have been obviated. The Beaver would have
received the furs collected at the factory and taken them to Canton, and
great gains, instead of great losses, would have been the result. The
greatest blunder, however, was that committed by Captain Sowle.

At length, about the 20th of June, the ship Albatross, Captain Smith,
arrived from China, and brought the first tidings of the war to the
Sandwich Islands. Mr. Hunt was no longer in doubt and perplexity as to
the reason of the non-appearance of the annual ship. His first thoughts
were for the welfare of Astoria, and, concluding that the inhabitants
would probably be in want of provisions, he chartered the Albatross for
two thousand dollar