elf of the
opportunity, but as a rule he bought his lands in what was then the
suburb of the city, and which few besides himself expected to see built
up during their lifetime. His sagacity and foresight have been more than
justified by the course of events. His estate now lies principally in
the heart of New York, and has yielded an increase greater even than he
had ventured to hope for. Seventy hundred and twenty houses are said to
figure on the rent roll of the Astor estate at present, and besides
these are a number of lots not yet built upon, but which are every day
increasing in value. "When Mr. Astor bought Richmond Hill, the estate of
Aaron Burr, he gave one thousand dollars an acre for the hundred and
sixty acres. Twelve years later, the land was valued at fifteen hundred
dollars per lot."

In 1810, he sold a lot near Wall Street for eight thousand dollars. The
price was so low that a purchaser for cash was found at once, and this
gentleman, after the sale, expressed his surprise that Mr. Astor should
ask only eight thousand for a lot which in a few years would sell for
twelve thousand.

"That is true," said Mr. Astor, "but see what I intend doing with these
eight thousand dollars. I shall buy eighty lots above Canal Street, and
by the time your one lot is worth twelve thousand dollars, my eighty
lots will be worth eighty thousand dollars."

His expectations were realized.

During the war of the Revolution, Roger Morris and his wife, Mary, of
Putnam County, were obliged to flee from the country to England for
adhering to the cause of King George, and, being attainted by the
authorities as public enemies, their immense estate, consisting of
fifty-one thousand one hundred and two acres, was seized by the State of
New York, and sold in small parcels to farmers, who believed the title
thus acquired valid. In 1809, there were upwards of seven hundred
families residing on this land. Mr. Astor, having learned that Roger and
Mary Morris possessed only a life interest in their property, and having
ascertained to his satisfaction that the State could not confiscate the
rights of the heirs, purchased their claim, which was good not only for
the land, but for all the improvements that had been put upon it. He
paid twenty thousand pounds sterling for it. A few years previous to the
death of Mrs. Morris, who survived her husband some years, Mr. Astor
presented his claim. The occupants of the land were thunderstruck, but