FREE BOOKS

Author's List




PREV.   NEXT  
|<   82   83   84   85   86   87   88   89   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104   105   106  
107   108   109   110   111   112   113   114   115   116   117   118   119   120   121   122   123   124   125   126   127   128   129   130   131   >>   >|  
mendicant used the same plea in begging a mite of alms on the streets, the law has invariably regarded him as a vagrant to be committed to the Workhouse. ASTOR'S ENORMOUS PROFITS. At about the identical time that John Jacob Astor was persistently complaining that the company was making no money, his own son and partner, William B. Astor, was writing from New York on Nov. 25, 1831, to the Secretary of War, that the company had a capital of about $1,000,000 and that, "You may, however, estimate our annual returns at half a million dollars."[88] Not less than $500,000 annual revenues on a capital of $1,000,000! These were inconceivably large returns for the time; Thomas J. Dougherty, Indian Agent at Camp Leavenworth, estimated that from 1815 to 1830 the fur trade on the Missouri and its waters had yielded returns amounting to $3,330,000 with a clear profit of $1,650,000. This was unquestionably a considerable underestimate. It is hardly necessary to say that Astor, as the responsible head and beneficiary of the American Fur Company, was never prosecuted for the numerous violations of both penal and civil laws invariably committed by his direction and for his benefit. With the millions that rolled in, he was able to command the services of not only the foremost lawyers in warding off the penalties of law, but in having as his paid retainers some of the most noted and powerful politicians of the day.[89] Senator Benton, of Missouri, a leading light in the Democratic party, was not only his legal representative in the West and fought his cases for him, but as United States Senator introduced in Congress measures which Astor practically drafted and the purport of which was to benefit Astor and Astor alone. Thus was witnessed a notorious violator of the law, invoking aid of the law to enrich himself still further,--a condition which need not arouse exceptional criticism, since the whole trading class in general did precisely the same thing. FOOTNOTES: [72] Parton's "Life of John Jacob Astor":28. [73] "The Old Merchants of New York," 1:287. [74] The extent of its operations and the rapid slaughter of fur animals may be gathered by a record of one year's work. In 1793 this company enriched itself by 106,000 beaver skins, 2,100 bear skins, 1,500 fox skins, 400 kit fox, 16,000 muskrat, 32,000 martin, 1,800 mink, 6,000 lynx, 6,000 wolverine, 1,600 fisher, 100 raccoon, 1,200 dressed deer, 700 elk, 550 buffalo robes,
PREV.   NEXT  
|<   82   83   84   85   86   87   88   89   90   91   92   93   94   95   96   97   98   99   100   101   102   103   104   105   106  
107   108   109   110   111   112   113   114   115   116   117   118   119   120   121   122   123   124   125   126   127   128   129   130   131   >>   >|  



Top keywords:

returns

 

company

 

Missouri

 

capital

 

invariably

 

benefit

 

committed

 
Senator
 

annual

 

witnessed


notorious
 
invoking
 

violator

 

enrich

 
criticism
 

trading

 
exceptional
 
arouse
 

condition

 

measures


representative

 

politicians

 
Benton
 

leading

 

Democratic

 

fought

 
practically
 

drafted

 

purport

 
powerful

United

 

States

 

introduced

 

Congress

 

slaughter

 
muskrat
 
martin
 

beaver

 

buffalo

 

dressed


wolverine

 

fisher

 

raccoon

 

enriched

 

Merchants

 

Parton

 
precisely
 

FOOTNOTES

 

extent

 
record