American Fur Company
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The American Fur Company (AFC) was founded in 1808, by
John Jacob Astor John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German-American businessman, merchant, real estate mogul, and investor who made his fortune mainly in a fur trade monopoly, by History of opium in China, smuggl ...
, a German immigrant to the United States. During the 18th century,
fur Fur is a thick growth of hair that covers the skin of mammals. It consists of a combination of oily guard hair on top and thick underfur beneath. The guard hair keeps moisture from reaching the skin; the underfur acts as an insulating blanket t ...
s had become a major
commodity In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a comm ...
in Europe, and North America became a major supplier. Several British companies, most notably the
North West Company The North West Company was a fur trading business headquartered in Montreal from 1779 to 1821. It competed with increasing success against the Hudson's Bay Company in what is present-day Western Canada and Northwestern Ontario. With great weal ...
and the
Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian retail business group. A fur trading business for much of its existence, HBC now owns and operates retail stores in Canada. The company's namesake business div ...
, were eventual competitors against Astor and capitalized on the lucrative trade in furs. Astor capitalized on anti-British sentiments and his commercial strategies to become one of the first
trusts A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the "settl ...
in American business and a major competitor to the British commercial dominance in North American fur trade. Expanding into many former British fur-trapping regions and
trade routes A trade route is a Logistics, logistical network identified as a series of pathways and stoppages used for the commercial transport of cargo. The term can also be used to refer to trade over bodies of water. Allowing Good (economics and accounti ...
, the company grew to
monopolize In United States antitrust law, monopolization is illegal monopoly behavior. The main categories of prohibited behavior include exclusive dealing, price discrimination, refusing to supply an essential facility, product tying and predatory pricing. ...
the fur trade in the United States by 1830, and became one of the largest and wealthiest businesses in the country. Astor planned for several companies to function across the
Great Lakes The Great Lakes, also called the Great Lakes of North America, are a series of large interconnected freshwater lakes in the mid-east region of North America that connect to the Atlantic Ocean via the Saint Lawrence River. There are five lakes ...
, the
Great Plains The Great Plains (french: Grandes Plaines), sometimes simply "the Plains", is a broad expanse of flatland in North America. It is located west of the Mississippi River and east of the Rocky Mountains, much of it covered in prairie, steppe, an ...
and the Oregon Country to gain control of the North American fur trade. Comparatively inexpensive manufactured goods were to be shipped to commercial stations for trade with various Indigenous nations for fur pelts. The sizable number of furs collected were then to be brought to the port of Canton, as pelts were in high demand in the
Qing Empire The Qing dynasty ( ), officially the Great Qing,, was a Manchu-led imperial dynasty of China and the last orthodox dynasty in Chinese history. It emerged from the Later Jin dynasty founded by the Jianzhou Jurchens, a Tungusic-speak ...
. Chinese products were, in turn, to be purchased for resale throughout Europe and the United States. A beneficial agreement with the
Russian-American Company The Russian-American Company Under the High Patronage of His Imperial Majesty (russian: Под высочайшим Его Императорского Величества покровительством Российская-Американс ...
was also planned through the regular supply of provisions for posts in
Russian America Russian America (russian: Русская Америка, Russkaya Amerika) was the name for the Russian Empire's colonial possessions in North America from 1799 to 1867. It consisted mostly of present-day Alaska in the United States, but a ...
. This was planned in part to prevent the rival
Montreal Montreal ( ; officially Montréal, ) is the List of the largest municipalities in Canada by population, second-most populous city in Canada and List of towns in Quebec, most populous city in the Provinces and territories of Canada, Canadian ...
based
North West Company The North West Company was a fur trading business headquartered in Montreal from 1779 to 1821. It competed with increasing success against the Hudson's Bay Company in what is present-day Western Canada and Northwestern Ontario. With great weal ...
(NWC) to gain a presence along the Pacific Coast, a prospect neither Russian colonial authorities or Astor favored. Demand for furs in Europe began to decline during the early 19th century, leading to the stagnation of the fur trade by the mid-19th century. Astor left his company in 1830, the company declared
bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
in 1842, and the American Fur Company ultimately ceased trading in 1847.


Background


Origin

Before
John Jacob Astor John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German-American businessman, merchant, real estate mogul, and investor who made his fortune mainly in a fur trade monopoly, by History of opium in China, smuggl ...
founded his enterprise in the Oregon Country, European descendants throughout previous decades had suggested creating trade stations along the Pacific Coast.
Peter Pond Peter Pond (January 18, 1739 – 1807) was an American explorer, cartographer, merchant and soldier who was a founding member of the North West Company and the Beaver Club. Though he was born and died in Milford, Connecticut, most of his life ...
, an active American fur trader, offered maps of his explorations in modern
Alberta Alberta ( ) is one of the thirteen provinces and territories of Canada. It is part of Western Canada and is one of the three prairie provinces. Alberta is bordered by British Columbia to the west, Saskatchewan to the east, the Northwest Ter ...
,
Saskatchewan Saskatchewan ( ; ) is a Provinces and territories of Canada, province in Western Canada, western Canada, bordered on the west by Alberta, on the north by the Northwest Territories, on the east by Manitoba, to the northeast by Nunavut, and on t ...
and the
Northwest Territories The Northwest Territories (abbreviated ''NT'' or ''NWT''; french: Territoires du Nord-Ouest, formerly ''North-Western Territory'' and ''North-West Territories'' and namely shortened as ''Northwest Territory'') is a federal territory of Canada. ...
to both the
United States Congress The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washing ...
and to Henry Hamilton, Lieutenant Governor of Quebec in 1785. While it has been conjectured that Pond wanted funding from the Americans to explore the Pacific Coast for the
Northwest Passage The Northwest Passage (NWP) is the sea route between the Atlantic and Pacific oceans through the Arctic Ocean, along the northern coast of North America via waterways through the Canadian Arctic Archipelago. The eastern route along the Arc ...
, there is no documentation of this and it is more likely that he had sent a copy of the map to Congress due to personal pride. Pond later became a founding member of the
North West Company The North West Company was a fur trading business headquartered in Montreal from 1779 to 1821. It competed with increasing success against the Hudson's Bay Company in what is present-day Western Canada and Northwestern Ontario. With great weal ...
(NWC) and continued to trade in modern Alberta. In time Pond had an influence upon Alexander Mackenzie, who later crossed the North American continent. In 1802, Mackenzie promoted a plan form the "Fishery and Fur Company" to the British government. In it he called for "a supreme Civil & Military Establishment" on
Nootka Island Nootka Island (french: île Nootka) is an island adjacent to Vancouver Island in British Columbia, Canada. It is in area. It is separated from Vancouver Island by Nootka Sound and its side-inlets, and is located within Electoral Area A of the ...
, with two additional posts located on the
Columbia River The Columbia River (Upper Chinook: ' or '; Sahaptin: ''Nch’i-Wàna'' or ''Nchi wana''; Sinixt dialect'' '') is the largest river in the Pacific Northwest region of North America. The river rises in the Rocky Mountains of British Columbia, C ...
and another in the
Alexander Archipelago The Alexander Archipelago (russian: Архипелаг Александра) is a long archipelago (group of islands) in North America lying off the southeastern coast of Alaska. It contains about 1,100 islands, the tops of submerged coastal m ...
. Additionally this plan was formed to bypass the three major British
monopolies A monopoly (from Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a speci ...
at the time, the
Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian retail business group. A fur trading business for much of its existence, HBC now owns and operates retail stores in Canada. The company's namesake business div ...
, the
South Sea Company The South Sea Company (officially The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America, and for the encouragement of the Fishery) was a British joint-stock company founded in Ja ...
and the
East India Company The East India Company (EIC) was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southea ...
for access the Chinese markets. However the British government turned down the offer, leaving the NWC to pursue MacKenzie's plans alone. Another likely influence upon Astor was a longtime friend, Alexander Henry. At times Henry mused at the potential of the western coast. Forming establishments on the Pacific shoreline to harness the economic potential would be "my favorite plan" as Henry described in a letter to a New York merchant. It is likely that these considerations were discussed with Astor during his visits to
Montreal Montreal ( ; officially Montréal, ) is the List of the largest municipalities in Canada by population, second-most populous city in Canada and List of towns in Quebec, most populous city in the Provinces and territories of Canada, Canadian ...
and the
Beaver Club The Beaver Club was a gentleman's dining club founded in 1785 by the predominantly English-speaking men who had gained control of the fur trade of Montreal. According to the club's rules, the object of their meeting was "to bring together, at stat ...
. Despite not originating the idea to create a venture on the Pacific coast, Astor's "ability to combine and use the ideas of other men" allowed him to pursue the idea.


China trade

Astor joined in on two NWC voyages charted to sail to the
Qing Empire The Qing dynasty ( ), officially the Great Qing,, was a Manchu-led imperial dynasty of China and the last orthodox dynasty in Chinese history. It emerged from the Later Jin dynasty founded by the Jianzhou Jurchens, a Tungusic-speak ...
during the 1790s. These were done with American vessels to bypass British
commercial law Commercial law, also known as mercantile law or trade law, is the body of law that applies to the rights, relations, and conduct of persons and business engaged in commerce, merchandising, trade, and sales. It is often considered to be a branc ...
, which at the time prohibited any company besides the
East India Company The East India Company (EIC) was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southea ...
from commerce with China. These were financially profitable ventures, enough so that Astor offered to become the NWC agent for all shipments of furs destined for
Guangzhou Guangzhou (, ; ; or ; ), also known as Canton () and alternatively romanized as Kwongchow or Kwangchow, is the capital and largest city of Guangdong province in southern China. Located on the Pearl River about north-northwest of Hong Kon ...
. However Alexander Mackenzie denied his offer, making Astor consider financing voyages to China without the Canadian traders. Now a fully independent international merchant, Astor began to fund trading voyages to China along with several partners. Cargoes often amounted to $150,000 in such as otter and beaver pelts, in addition to needed specie. Astor ordered the construction of the '' Beaver'' in 1803 to expand his trade fleet.


Formation

By 1808, Astor had established "an international empire that mixed furs, teas, and silks and penetrated markets on three continents." He began to court diplomatic and government support of a fur trading venture to be established on the Pacific shore in the same year. In correspondence with the
Mayor of New York City The mayor of New York City, officially Mayor of the City of New York, is head of the executive branch of the government of New York City and the chief executive of New York City. The mayor's office administers all city services, public property ...
, DeWitt Clinton, Astor explained that a state
charter A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified. It is implicit that the granter retains superiority (or sovereignty), and that the rec ...
would offer a particular level of formal sanction needed in the venture. He in turn requested the Federal government grant his operations military support to defend against Indians and control these new markets. The bold proposals were not given official sanction however, making Astor to continue to promote his ideas among prominent governmental agents. President
Thomas Jefferson Thomas Jefferson (April 13, 1743 – July 4, 1826) was an American statesman, diplomat, lawyer, architect, philosopher, and Founding Fathers of the United States, Founding Father who served as the third president of the United States from 18 ...
was contacted by the ambitious merchant as well. Astor gave a detailed plan of his mercantile considerations, declaring that they were designed to bring about American commercial dominance over "the greater part of the fur-trade of this continent..." This was to be accomplished through a chain of interconnected trading posts that stretching across the Great Lakes, the Missouri River basin, the Rocky Mountains, and ending with a fort at the entrance of the Columbia River. Once the pelts were collected from the extensive outposts they were to be loaded and shipped aboard ships owned by Astor to the Chinese port of Guangzhou, where furs were sold for impressive profits. Chinese products like
porcelain Porcelain () is a ceramic material made by heating substances, generally including materials such as kaolinite, in a kiln to temperatures between . The strength and translucence of porcelain, relative to other types of pottery, arises mainl ...
,
nankeen Nankeen (also called Nankeen cloth) is a kind of pale yellowish cloth originally made in Nanking (modern Nanjing), China from a yellow variety of cotton, but subsequently manufactured from ordinary cotton that is then dyed.''Oxford English Dic ...
s and
tea Tea is an aromatic beverage prepared by pouring hot or boiling water over cured or fresh leaves of ''Camellia sinensis'', an evergreen shrub native to East Asia which probably originated in the borderlands of southwestern China and north ...
were to be purchased; with the ships then to cross the
Indian Ocean The Indian Ocean is the third-largest of the world's five oceanic divisions, covering or ~19.8% of the water on Earth's surface. It is bounded by Asia to the north, Africa to the west and Australia to the east. To the south it is bounded by th ...
and head for European and American markets to sell the Chinese wares.


Subsidiaries


Pacific Fur Company

To begin his plans of a chain of trading stations spread across the
Rocky Mountains The Rocky Mountains, also known as the Rockies, are a major mountain range and the largest mountain system in North America. The Rocky Mountains stretch in straight-line distance from the northernmost part of western Canada, to New Mexico in ...
to the
Pacific Northwest The Pacific Northwest (sometimes Cascadia, or simply abbreviated as PNW) is a geographic region in western North America bounded by its coastal waters of the Pacific Ocean to the west and, loosely, by the Rocky Mountains to the east. Though ...
, Astor incorporated the AFC subsidiary, the
Pacific Fur Company The Pacific Fur Company (PFC) was an American fur trade venture wholly owned and funded by John Jacob Astor that functioned from 1810 to 1813. It was based in the Pacific Northwest, an area contested over the decades between the United Kingdom o ...
. Astor and the partners met in New York on 23 June 1810 and signed the Pacific Fur Company's provisional agreement. The fellow partners were former NWC men, being Alexander McKay, Duncan McDougall, and Donald Mackenzie. The chief representative of Astor in the daily operations was
Wilson Price Hunt Wilson Price Hunt (March 20, 1783 – April 13, 1842) was an early pioneer and explorer of the Oregon Country in the Pacific Northwest of North America. Employed as an agent in the fur trade under John Jacob Astor, Hunt organized and led the gre ...
, a
St. Louis St. Louis () is the second-largest city in Missouri, United States. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which e ...
businessman with no outback experience. From the outpost on the Columbia, Astor hoped to gain a commercial foothold in Russian America and China. In particular, the ongoing supply issues faced by the
Russian-American Company The Russian-American Company Under the High Patronage of His Imperial Majesty (russian: Под высочайшим Его Императорского Величества покровительством Российская-Американс ...
were seen as a means to gain yet more furs. Cargo ships en route from the Columbia were planned to then sail north for
Russian America Russian America (russian: Русская Америка, Russkaya Amerika) was the name for the Russian Empire's colonial possessions in North America from 1799 to 1867. It consisted mostly of present-day Alaska in the United States, but a ...
to bring much needed provisions. By cooperating with Russian colonial authorities to strengthen their material presence in Russian America, it was hoped by Astor to stop the NWC or any other British presence to be established upon the Pacific Coast. A tentative agreement for merchant vessels owned by Astor to ship furs gathered in Russian America into the Qing Empire was signed in 1812. While intended to gain control of the regional fur trade, the Pacific Fur Company floundered in the
War of 1812 The War of 1812 (18 June 1812 – 17 February 1815) was fought by the United States of America and its indigenous allies against the United Kingdom and its allies in British North America, with limited participation by Spain in Florida. It bega ...
. The possibility of an occupation by the
Royal Navy The Royal Navy (RN) is the United Kingdom's naval warfare force. Although warships were used by English and Scottish kings from the early medieval period, the first major maritime engagements were fought in the Hundred Years' War against F ...
forced the sale of all company assets across the Oregon Country. This was formalized on 23 October 1813 with the raising of the
Union Jack The Union Jack, or Union Flag, is the ''de facto'' national flag of the United Kingdom. Although no law has been passed making the Union Flag the official national flag of the United Kingdom, it has effectively become such through precedent. ...
at
Fort Astoria Fort Astoria (also named Fort George) was the primary fur trading post of John Jacob Astor's Pacific Fur Company (PFC). A maritime contingent of PFC staff was sent on board the ''Tonquin (1807 ship), Tonquin'', while another party traveled overl ...
. On 30 November HMS ''Racoon'' arrived at the Columbia River and in honor of
George III of the United Kingdom George III (George William Frederick; 4 June 173829 January 1820) was King of Great Britain and of Monarchy of Ireland, Ireland from 25 October 1760 until Acts of Union 1800, the union of the two kingdoms on 1 January 1801, after which he was ...
, Fort Astoria was renamed Fort George. After the forced merger in 1821 of the North West Company into their long time rivals, the
Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian retail business group. A fur trading business for much of its existence, HBC now owns and operates retail stores in Canada. The company's namesake business div ...
, in a short time the HBC controlled the majority of the fur trade across the Pacific Northwest. This was done in a manner that "the Americans were forced to acknowledge that Astor's dream" of a multi-continent economic web "had been realized... by his enterprising and far-sighted competitors."


South West Company

The South West Company handled the Midwestern and Southwestern fur trade. In the Midwest, it also competed with regional companies along the upper Missouri, upper Mississippi, Platte rivers and as far south as New Mexico. These competitors were mostly companies based in
Saint Louis, Missouri St. Louis () is the second-largest city in Missouri, United States. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which ...
, which were active in the fur trade as well as in trade of general merchandise, and which were typically founded and led by French colonial families, such as Pratte,
Chouteau Chouteau was the name of a highly successful, ethnically French fur-trading family based in Saint Louis, Missouri, which they helped found. Their ancestors Chouteau and Laclède initially settled in New Orleans. They then moved-up the Mississipp ...
, Cabanne and
Ceran St. Vrain Ceran St. Vrain, born Ceran de Hault de Lassus de Saint-Vrain (May 5, 1802 – October 28, 1870), was the son of a French aristocrat who immigrated to the Spanish Louisiana in the late 18th century; his mother was from St. Louis, where he was b ...
amongst the most prominent, both before and after the
Louisiana Purchase The Louisiana Purchase (french: Vente de la Louisiane, translation=Sale of Louisiana) was the acquisition of the territory of Louisiana by the United States from the French First Republic in 1803. In return for fifteen million dollars, or app ...
or Astor setting up his company. Competition in the wilderness areas between men of the companies sometimes erupted into physical violence and outright attacks. In 1834, the American Fur Company sold its Western Division to Bernard Pratte and Pierre Chouteau Jr., with whom they had been already cooperating, with the latter continuing the business as Pratte, Chouteau & Company.


Later history

For a time, it seemed that the company had been destroyed but, following the war, the United States passed a law excluding foreign traders from operating on U.S. territory. This freed the American Fur Company from having to compete with the Canadian and British companies, particularly along the borders around the
Great Lakes The Great Lakes, also called the Great Lakes of North America, are a series of large interconnected freshwater lakes in the mid-east region of North America that connect to the Atlantic Ocean via the Saint Lawrence River. There are five lakes ...
and in the West. The AFC competed fiercely among American companies to establish a monopoly in the
Great Lakes The Great Lakes, also called the Great Lakes of North America, are a series of large interconnected freshwater lakes in the mid-east region of North America that connect to the Atlantic Ocean via the Saint Lawrence River. There are five lakes ...
region and the Midwest. In the 1820s the AFC expanded its monopoly into the
Great Plains The Great Plains (french: Grandes Plaines), sometimes simply "the Plains", is a broad expanse of flatland in North America. It is located west of the Mississippi River and east of the Rocky Mountains, much of it covered in prairie, steppe, an ...
and the
Rocky Mountains The Rocky Mountains, also known as the Rockies, are a major mountain range and the largest mountain system in North America. The Rocky Mountains stretch in straight-line distance from the northernmost part of western Canada, to New Mexico in ...
, dominating the fur trade in what became Montana by the mid-1830s. To achieve control of the industry, the company bought out or beat out many smaller competitors, like the
Rocky Mountain Fur Company The enterprise that eventually came to be known as the Rocky Mountain Fur Company was established in St. Louis, Missouri, in 1822 by William Henry Ashley and Andrew Henry. Among the original employees, known as "Ashley's Hundred," were Jedediah ...
. By 1830, the AFC had nearly complete control of the fur trade in the United States. The company's time at the top of America's business world was short-lived. Sensing the eventual decline of fur's popularity in fashion, John Jacob Astor withdrew from the company in 1834. The company split into smaller entities like the Pacific Fur Company. The Northern Division of the midwestern outfit continued to be called the American Fur Company and was led by
Ramsay Crooks Ramsay Crooks (2 January 1787 – 6 June 1859) was an American fur trader who immigrated to Canada from Greenock, Scotland. He was the father of American Civil War Colonel William Crooks who served in the 6th Minnesota Regiment. In 1803 Ramsay w ...
. To cut down on expenses, it began closing many of its trading posts.


Decline

Through the 1830s, competition began to resurface. At the same time, the availability of furs in the Midwest declined. During this period, the Hudson's Bay Company began an effort to destroy the American fur companies from its
Columbia District The Columbia District was a fur trading district in the Pacific Northwest region of British North America in the 19th century. Much of its territory overlapped with the disputed Oregon Country. It was explored by the North West Company betw ...
headquarters at
Fort Vancouver Fort Vancouver was a 19th century fur trading post that was the headquarters of the Hudson's Bay Company's Columbia Department, located in the Pacific Northwest. Named for Captain George Vancouver, the fort was located on the northern bank of th ...
. By depleting furs in the
Snake River The Snake River is a major river of the greater Pacific Northwest region in the United States. At long, it is the largest tributary of the Columbia River, in turn, the largest North American river that empties into the Pacific Ocean. The Snake ...
country and underselling the American Fur Company at the annual
Rocky Mountain Rendezvous The Rocky Mountain Rendezvous was an annual rendezvous, held between 1825 to 1840 at various locations, organized by a fur trading company at which trappers and mountain men sold their furs and hides and replenished their supplies. The fur compa ...
, the HBC effectively ruined American fur trading efforts in the Rocky Mountains. By the 1840s,
silk Silk is a natural protein fiber, some forms of which can be woven into textiles. The protein fiber of silk is composed mainly of fibroin and is produced by certain insect larvae to form cocoons. The best-known silk is obtained from the coc ...
was replacing fur for hats as the clothing fashion in Europe. The company was unable to cope with all these factors. Despite efforts to increase profits by diversifying into other industries like
lead Lead is a chemical element with the symbol Pb (from the Latin ) and atomic number 82. It is a heavy metal that is denser than most common materials. Lead is soft and malleable, and also has a relatively low melting point. When freshly cu ...
mining, the American Fur Company folded. The assets of the company were split into several smaller operations, most of which failed by the 1850s. In 1834, John Jacob Astor sold his interest on the river to replace the old fur company. He invested his fortune in real estate on Manhattan Island, New York, and became the wealthiest man in America. After 1840, the business of the American Fur Company declined.


Influence

During its heyday, the American Fur Company was one of the largest enterprises in the United States and held a total monopoly of the lucrative fur trade in the young nation by the 1820s. Through his profits from the company,
John Jacob Astor John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German-American businessman, merchant, real estate mogul, and investor who made his fortune mainly in a fur trade monopoly, by History of opium in China, smuggl ...
made numerous, lucrative land investments and became the richest man in the world and the first multi-millionaire in the United States. The German-born Astor is ranked as the eighteenth-wealthiest person of all time, and the eighth to create his fortune in the United States. He used part of his fortune to found the
Astor Library The Astor Library was a free public library in the East Village, Manhattan, developed primarily through the collaboration of New York City merchant John Jacob Astor and New England educator and bibliographer Joseph Cogswell. It was primarily ...
in New York City. Later it merged with the Lenox Library to form the
New York Public Library The New York Public Library (NYPL) is a public library system in New York City. With nearly 53 million items and 92 locations, the New York Public Library is the second largest public library in the United States (behind the Library of Congress ...
. On the frontier, the American Fur Company opened the way for the settlement and economic development of the Midwestern and Western United States.
Mountain men A mountain man is an explorer who lives in the wilderness. Mountain men were most common in the North American Rocky Mountains from about 1810 through to the 1880s (with a peak population in the early 1840s). They were instrumental in opening up ...
working for the company improved Native American trails and carved others that led settlers into the West. Many cities in the Midwest and West, such as
Fort Benton, Montana Fort Benton is a city in and the county seat of Chouteau County, Montana, United States. Established in 1846, Fort Benton is the oldest continuously occupied settlement in Montana. The city's waterfront area, the most important aspect of its 19 ...
, and Astoria, Oregon developed around American Fur Company
trading post A trading post, trading station, or trading house, also known as a factory, is an establishment or settlement where goods and services could be traded. Typically the location of the trading post would allow people from one geographic area to tr ...
s. The company played a major role in the development and expansion of the young United States.


See also

* North American fur trade *
Fur trade in Montana The fur trade in Montana was a major period in the area's economic history from about 1800 to the 1850s. It also represents the initial meeting of cultures between indigenous peoples and those of European ancestry. British and Canadian traders ap ...


References


Bibliography

* * * Cochrane, Timothy (2018), ''Gichi Bitobig, Grand Marais: Early Accounts of the Anishinaabeg and the North Shore Fur Trade.'' Minneapolis, MN: University of Minnesota Press. * * * * * * * * * * * * * * *


External links


American Fur Company collection
Rare Books and Manuscripts, Indiana State Library {{Authority control Fur trade History of United States expansionism American companies established in 1808 Defunct companies of the United States 1808 establishments in New York (state) Economic history of the United States