Great Fortunes, and How They Were Made Part 4

"In this grand scheme, Mr. Astor was only antic.i.p.ating the course of events which, fifty years later, we are beginning to witness. When he laid his plans before the Government, Mr. Jefferson, who was then President, 'considered as a great acquisition,' as he afterward expressed himself in a letter to Mr. Astor, 'the commencement of a settlement on the western coast of America, and looked forward with gratification to the time when its descendants should have spread themselves through the whole length of that coast, covering it with free and independent Americans, unconnected with us except by ties of blood and interest, and enjoying, like us, the rights of self-government.'

Even Jefferson's mind, wide as it was, could not take in the idea of a national unity embracing both ends of the continent; but not so thought Astor. The merchant saw farther than the statesman. It was precisely this political unity which gave him hope and chance of success in his worldwide schemes. When the Const.i.tution was adopted, the chief source of apprehension for its permanence with men like Patrick Henry, and other wise statesmen, was the extent of our territory. The Alleghanies, it was thought, had put asunder communities whom no paper const.i.tution could unite. But at that early day, when Ohio was the far West, and no steamboat had yet gone up the Mississippi, Astor looked beyond the Ohio, beyond the Mississippi, and the Rocky Mountains, and saw the whole American territory, from ocean to ocean, the domain of one united nation, the seat of trade and industry. He saw lines of trading posts uniting the Western settlements with the Pacific; following this line of trading posts, he saw the columns of a peaceful emigration crossing the plains, crossing the mountains, descending the Columbia, and towns and villages taking the places of the solitary posts, and cultivated fields instead of the hunting-grounds of the Indian and the trapper.

"No enterprise, unless it be the Atlantic telegraph, engages more deeply the public attention than a railroad communication with the Pacific coast.[A] The rapid settlement of Oregon and California, the constant communication by steam to the Pacific coast, render it easy now to feel the nearness of that region, and the oneness of the nationality which covers the continent. But to Astor's eye the thing was as palpable then as now. And yet but two or three attempts had then been made to explore the overland routes."

It would be deeply interesting to examine the details of this fast scheme of colonization and trade, for it is certain that Mr. Astor was as anxious to do an act which, by building up the continent, should hand his name down to posterity as a national benefactor, as to increase his business; but the limits of this article forbid more than a mere glance at the subject.

[Footnote A: The reader will bear in mind that the above extract was written in 1857.]

A company was formed, at the head of which stood Mr. Astor, and an elaborate and carefully-arranged plan of operations prepared. Two expeditions were dispatched to the mouth of the Columbia, one by land and the other by sea. Many hards.h.i.+ps were encountered, but the foundation of a settlement was successfully made on the Columbia. In spite of the war with England (1812-15), which now occurred, the enterprise would have been successful had Mr. Astor's positive instructions been obeyed. They were utterly disregarded, however, and his partners and agents not only betrayed him in every instance, but sold his property to a rival British company for a mere trifle. His pecuniary loss was over a million of dollars, and his disappointment bitter beyond expression. When the enterprise was on the point of failure, and while he was still chafing at the conduct of his treacherous subordinates, he wrote to Mr. Hunt, the most faithful of all his agents: "Were I on the spot, and, had the management of affairs, I would defy them all; but as it is, every thing depends on you and your friends about you. Our enterprise is grand, and deserves success, and I hope in G.o.d it will meet it. _If my object was merely gain of money_, I should say, think whether it is best to save what we can, and abandon the place; but the very idea is like a dagger to my heart." When the news of the final betrayal reached him, he wrote to the same gentleman: "Had our place and property been fairly captured, I should have preferred it; I should not feel as if I were disgraced."

Mr. Astor remained in active business for fifty years. During that entire period he scarcely committed an error of judgment which led to a loss in business. He was thorough master of every thing pertaining to his affairs, and his strength and accuracy of judgment was remarkable.

The particulars of his transactions were indelibly impressed upon his mind. His intellect was vigorous and quick, and he grasped a subject with a readiness which seemed like intuition. He was always careful of the present, but he loved to undertake enterprises which extended far into the future. He was a man of the utmost punctuality in all his habits. He rose early, and, until he was fifty-five years old, was always in his office before seven o'clock. His capacity for work was very great, so that, in spite of his heavy labors, he was always able to leave his office by two o'clock, while many of his a.s.sociates, who really did less than he, were compelled to remain in their counting-rooms until four or five. He was noted for his unvarying calmness, which he doubtless owed to his German temperament. In the midst of disaster and loss he was cooler and more cheerful than ever. To those who chafed at their troubles, he would say, smilingly, "Keep quiet; keep cool." This was his safeguard.

He was a devoted citizen of the United States, and, though he took no active interest in politics, was a steady supporter of the Whig party.

Henry Clay was his personal friend, and his last donation to any political cause was a subscription of fifteen hundred dollars to aid the election of his old friend to the Presidency.

About the year 1830, Mr. Astor, now the possessor of millions, began to withdraw from active business, confining his efforts chiefly to such investments as the management of his immense estate made necessary. He now put into execution an enterprise which he had long cherished. When a poor stranger in the city, he had once stopped in Broadway to notice a row of buildings which had just been erected, and which were considered the finest in the street, and had then made a vow that he would one day build a larger and finer house than any in Broadway. He now set to work to carry out the plan he had cherished ever since. He owned the entire block on Broadway, between Vesey and Barclay streets, with the exception of one house, which was the property of a Mr. Coster, a merchant who had ama.s.sed a large fortune and retired from business. Mr.

Astor made him many offers for his house, but the old gentleman was unwilling to remove. Mr. Astor offered him the full value of his house, which was thirty thousand dollars, and increased the bid to forty thousand, but Mr. Coster was obstinate. At length Mr. Astor, in despair, was compelled to reveal his plan to his neighbor.

"I want to build a hotel," said he. "I have got all the other lots. Now name your own price."

Mr. Coster replied that he would sell for sixty thousand dollars if his wife would consent, and that Mr. Astor could see her the next morning.

Mr. Astor was punctual to the appointment, and his offer was accepted by the good lady, who said to him, condescendingly, "I don't want to sell the house, but we are such old friends that I am willing for your sake."

Mr. Astor used to remark with great glee that any one could afford to exhibit such condescension after receiving double the value of a piece of property.

Having got possession of the entire block, he commenced the demolition of the old buildings, and on their site reared the Astor House, then the largest and most elegant hotel in the country. This building, when completed, he gave to his eldest son, William B. Astor.

In 1832, Mr. Astor sailed for Europe to visit one of his daughters, who had married a n.o.bleman, and remained abroad until 1835. In that year he was compelled to return home by the action of General Jackson with regard to the Bank of the United States. "He reached Havre," says Mr.

Parton, "when the s.h.i.+p, on the point of sailing, had every stateroom engaged, but he was so anxious to get home, that the captain, who had commanded s.h.i.+ps for him in former years, gave up to him his own stateroom. Head winds and boisterous seas kept the vessel beating about and tossing in the channel for many days. The great man was very sick, and still more alarmed. At length, being persuaded that he should not survive the voyage, he asked the captain to run in and set him ash.o.r.e on the coast of England. The captain dissuaded him. The old man urged his request at every opportunity, and said, at last, 'I give you tousand dollars to put me aboard a pilot boat.' He was so vehement and importunate, that one day the captain, worried out of all patience, promised him that if he did not get out of the channel before next morning, he would run in and put him ash.o.r.e. It happened that the wind changed in the afternoon and wafted the s.h.i.+p into the broad ocean. But the troubles of the sea-sick millionaire had only just begun. A heavy gale of some days' duration blew the vessel along the western coast of Ireland. Mr. Astor, now thoroughly panic-stricken, offered the captain ten thousand dollars if he would put him ash.o.r.e anywhere on the wild and rocky coast of the Emerald Isle. In vain the captain remonstrated. In vain he reminded the old gentleman of the danger of forfeiting his insurance.

"'Insurance!' exclaimed Astor, 'can't I insure your s.h.i.+p my self?'

"In vain the captain mentioned the rights of the other pa.s.sengers. In vain he described the solitary and rock-bound coast, and detailed the dangers and difficulties which attended its approach. Nothing would appease him. He said he would take all the responsibility, brave all the perils, endure all the consequences, only let him once more feel the firm ground under his feet. The gale having abated, the captain yielded to his entreaties, and engaged, if the other pa.s.sengers would consent to the delay, to stand in, and put him ash.o.r.e. Mr. Astor went into the cabin, and proceeded to write what was expected to be a draft for ten thousand dollars in favor of the owners of the s.h.i.+p on his agent in New York. He handed to the captain the result of his efforts. It was a paper covered with writing that was totally illegible.

"'What is this?' asked the captain.

"'A draft upon my son for ten thousand dollars,' was the reply.

"'But no one can read it.'

"'O yes, my son will know what it is. My hand trembles so that I can not write any better.'

"'But,' said the captain, 'you can at least write your name. I am acting for the owners of the s.h.i.+p, and I can not risk their property for a piece of paper that no one can read. Let one of the gentlemen draw up a draft in proper form; you sign it, and I will put you ash.o.r.e.'

"The old gentleman would not consent to this mode of proceeding, and the affair was dropped."

During the last twenty years of his life Mr. Astor lived in the retirement of his family, leaving even the greater part of the management of his estate to the hands of others. He was exceedingly fond of literary men. Irving was his friend, and Halleck his business manager. He died at the age of eighty-four years and eight months, literally from old age. He was buried in St. Thomas's Church, on Broadway.

His immense estate was left to his children, the bulk of it being bequeathed to his eldest son. All of his relatives were made comfortable. The village of Waldorf, his native place, received a legacy of fifty thousand dollars for the benefit of its poor, and an amount in land and funds equal to four hundred thousand dollars was left to certain trustees to establish the Astor Library in the city of New York.

Besides these, several charitable and benevolent a.s.sociations received handsome donations from him.

His career has been related in these pages as an example to those who are seeking to rise in legitimate commerce. It is the Best instance on record of the facility with which success may be won by patient and intelligent industry. In his capacity for grasping and carrying out an enterprise, in his prudent and economical management of his business, in his tact, courage, sagacity, Mr. Astor's example is one which will lead many to success, and none to injury.

He was a thoroughly upright man, his transactions were rigidly honest; but as a man, candor compels the acknowledgment that he was not a safe or admirable model. He was utterly devoid of generosity. Liberal to an extreme with his own family, he was close and hard with others. He paid small wages to his employes and never gave more than the man bargained for, no matter what extra service might be rendered. He carried his economy to a degree of meanness painful to contemplate. At his death, out of his vast estate, he left to his friend and faithful manager an annuity of only two hundred dollars, which his son increased to fifteen hundred.

One of his captains once succeeded in saving for him property in China to the amount of seven hundred thousand dollars, which had become jeopardized by the sudden death of the agent in charge of it. This service was purely voluntary, and was one which required the greatest skill, determination, and courage on the part of the captain, and Astor acknowledged it, frequently saying: "If you had not done just as you did, I should never have seen one dollar of my money; no, not one dollar of it." This was the only acknowledgment he made, however. He was worth ten millions of dollars, and the captain had only his pay--twelve hundred dollars a year--and a family. At his father's death Mr. William B. Astor sent a considerable sum to the old seaman in return for this service.

"We have all heard much of the closeness, or rather the meanness, of this remarkable man. Truth compels us to admit that he was not generous, except to his own kindred. His liberality began and ended in his own family. Very seldom during his lifetime did he willingly do a generous act, outside of the little circle of his relations and descendants. To get all he could, and to keep nearly all that he got--those were the laws of his being.... He enjoyed keenly the consciousness, the feeling, of being rich. The roll-book of his possessions was his Bible. He scanned it fondly, and saw, with quiet but deep delight, the catalogue of his property lengthening from month to month. The love of acc.u.mulation grew with his years, until it ruled him like a tyrant. If at fifty he possessed his millions, at sixty-five his millions possessed him. Only to his own children and to their children was he liberal; and his liberality to them was all arranged with a view to keeping his estate in the family, and to cause it at every moment to tend toward a final consolidation in one enormous ma.s.s."

This is the estimate of his character formed by Mr. James Parton. His friend Dr. Coggswell presents him in quite a different light. He says:

"Mr. Astor lived to the good old age of four score and four years and eight months. For some years previous to his death, which happened March 29, 1848, his manly form was bowed down by age, and his bodily strength greatly enfeebled, but his mind retained much of its original Vigor and brightness. Considering his extraordinary activity until a late period of his life, he submitted to the helplessness of age with uncommon resignation. When his impaired eye-sight no longer permitted him to read, his princ.i.p.al relief from the wearisomeness of unoccupied time was in the society of his friends and near relatives. All who knew him well were strongly attached to him, and none but those who were ignorant of his true character believed him unamiable and repulsive.

"His smile was peculiarly benignant and expressive of genuine kindness of heart, and his whole manner cordial and courteous to every one ent.i.tled to his respect. There was something so impressive in his appearance, no one could stand before him without feeling that he was in the presence of a superior intelligence. His deep, sunken eye, beneath his overarched brow, denoted the prophetic--it might almost be said the inspired--mind within. Although he lived many years beyond the age when the gra.s.shopper is a burden, and was the victim of much suffering, he did not murmur, nor did he become unreasonable and peevish. He was not wont to talk much on the subject of religion, or freely communicate his views in relation to the life beyond the grave; but it can not be doubted that such tranquility as he exhibited in his near approach to it must have been derived from 'that peace which the world can neither give nor take away,'"

Perhaps a medium between Mr. Parton's bitterness and Dr. Coggswell's enthusiasm will be as correct an estimate of his personal character as can be formed. It is a singular fact that Mr. Astor managed, in spite of the closeness which marked his operations, in spite of the small wages he paid, to inspire his employes with a zeal in his service that made them willing to undertake any thing, to endure any amount of labor, for him.

"He once lost seventy thousand dollars by committing a piece of petty injustice toward his best captain. This gallant sailor, being notified by an insurance office of the necessity of having a chronometer on board his s.h.i.+p, spoke to Mr. Astor on the subject, who advised the captain to buy one.

"'But,' said the captain, 'I have no five hundred dollars to spare for such a purpose; the chronometer should belong to the s.h.i.+p.'

"'Well,' said the merchant, 'you need not pay for it now; pay for it at your convenience,'

"The captain still objecting, Astor, after a prolonged higgling, authorized him to buy a chronometer and charge it to the s.h.i.+p's account, which was done.

"Sailing day was at hand. The s.h.i.+p was hauled into the stream. The captain, as is the custom, handed in his account. Astor, subjecting it to his usual close scrutiny, observed the novel item of five hundred dollars for the chronometer. He objected, averring that it was understood between them that the captain was to pay for the instrument.

The worthy sailor recalled the conversation, and firmly held to his recollection of it. Astor insisting on his own view of the matter, the captain was so profoundly disgusted that, important as the command of the s.h.i.+p was to him, he resigned his post. Another captain was soon found, and the s.h.i.+p sailed for China.

"Another house, which was then engaged in the China trade, knowing the worth of this 'king of captains,' as Astor himself used to style him, bought him a s.h.i.+p and dispatched him to Canton two months after the departure of Astor's vessel. Our captain, put upon his mettle, employed all his skill to accelerate the speed of his s.h.i.+p, and had such success that he reached New York, with a full cargo of tea, just seven days after the arrival of Mr. Astor's s.h.i.+p. Astor, not expecting another s.h.i.+p for months, and therefore sure of monopolizing the market, had not yet broken bulk, nor even taken off the hatchways. Our captain arrived on a Sat.u.r.day. Advertis.e.m.e.nts and handbills were immediately issued, and on the Wednesday morning following, as the custom then was, the auction sale of the tea began on the wharf--two barrels of punch contributing to the _eclat_ and hilarity of the occasion. The cargo was sold to good advantage, and the market was glutted. Astor lost in consequence the entire profits of the voyage, not less than the sum previously named.

Meeting the captain some time after in Broadway, he said:

"'I had better have paid for that chronometer of yours,'"

Yet he could do a kind act when he was in the humor. When he was poor and struggling for fortune, he had a friend in the city named Pell, a coachmaker. As he advanced in the world he lost sight of his friend. One day a young man called on him to ask if he would sell one of his leases which he (the visitor) then held. He replied promptly and decidedly that he would not sell.

"But what is your name?" he asked.

"It is Pell," was the reply.

"Pell--Pell--" said the old man, hesitating a moment, "I knew a man by that name once; he was a dear friend of mine, but I have not seen him for years."

"That man," said the visitor, "was my father."

"Indeed," exclaimed the old man, warmly; "your father? Why, he used to give me rides in his coaches. How I should like to see him."

Then pausing a moment, and smiling as he recalled the past to his mind, he said: