John Jacob Astor and the War of 1812

Magnificent as the Astorian scheme was, it did not occupy Mr. Astor's entire attention during the years between 1810-1815. Nor was his belief in the great future of the United States shaken by the failure of his enterprise.

He showed his patriotism in practical acts of national value. "In June, 1812, the merchants of New York memorialized the Government in favor of the embargo, and although for a time it almost annihilated the commerce of the port, the name of John Jacob Astor headed the list."

"From the beginning of the war, the support of the treasury of the United States came chiefly from the middle States. A loan of sixteen million dollars was authorized by Congress in December, 1812." Albert Gallatin, who had immigrated from Geneva, Switzerland, in his boyhood, coming to America with a letter of introduction from Benjamin Franklin, and thereafter becoming a large land-owner in Virginia, was Secretary of the Treasury. His conduct of the office is said to have "ranked among the finest illustrations of financial ability known." His influence "saved the loan."

David Parish and Stephen Girard in Philadelphia, and John Jacob Astor in New York, all personal friends of the great financier, "took over ten millions for themselves and their friends." All of these men who risked their treasure for their country were foreign born.

"Mr. Astor upheld the Government as the largest individual subscriber to the United States loans of that period." The young man,—who shortly after his arrival in America, found it impossible to obtain a loan of two hundred dollars, and compromised with his brother Henry, for a gift of one hundred, and a promise never to borrow of him again,—in middle life willingly made a loan to his country of millions of dollars.

The great shipping merchant was fortunate in receiving several cargoes of tea during the war, which had escaped capture by the British cruisers. All the dry goods merchants bought goods of the large shipping houses, often whole cargoes from the vessels which had successfully run the blockade, and come into port. Shipping goods were also smuggled through Canada.

Mr. Robbins had been steadily prospering in business since he learned the dry goods trade of Henry Laverty. He and John Jacob Astor were warm friends, and both of them were directors in the celebrated Globe Insurance Company. Mr. Robbins was one of those who purchased entire cargoes of Mr. Astor, the two men frequently conducting large commercial transactions in a most laconic manner.

At one time Mr. Robbins had bought an enormous quantity of nankeens, valuable goods of that day, of John Hone and Sons. The only remaining lot in the market was held by Mr. Astor. Mr. Robbins was determined to avoid competition, so went around to Mr. Astor's store, 69 Pine Street, corner of Pearl, and told him what he wanted. The proprietor led the way to a long counter in the center of the store, dusted its surface, and laid down a sample of the nankeens. "How many have you?" asked Mr. Robbing. Mr. Astor named the quantity. "What is your price?" The price was given. "I'll take them all," said Robbins. "Have them to-day?" "Yes, send them up to 450 Pearl Street." The author of "Old Merchants of New York," who tells this story, says Mr. Astor: "He asked but one price, and he never departed from it. He represented everything as it was, and never deceived anybody. He never told a lie to sell a lot of goods, even by implication. They were always found to be as he had represented them."

At times, Mr. Robbins joined with another merchant in the purchase of a cargo of valuable French goods, silks, velvets, laces, etc., which were much sought after by the fashionable world, and profit upon them had been known to reach thi'ee hundred per cent.

The dry goods merchants also sent orders by the merchant vessels, for other commodities besides those connected with their trade. Laverty and Gantley imported rare French Spode, and dainty cathedral clocks, with chimes in the Belfry of Notre Dame and vases delicate in design, and exquisite in workmanship.

Mr. Astor's one extravegance is said to have been in providing himself, at any cost, with news and information which would keep him in intimate touch with his operations all over the globe. A striking instance of this habit, was that of his receiving intelligence from Montreal, by special relays, of the signing of the Treaty of Ghent, December 24th, 1814, which restored peace between Great Britain and the United States. This was two days earlier than the news reached the American Government, to which it gave him great pleasure to make the announcement.

Charles Astor Bristed, a grandson of John Jacob Astor, tells of an incident connected with this Treaty of Peace.

"After the Treaty of Ghent was concluded, Mr. Astor said to his friend, Albert Gallatin, 'I am very much pleased with all that you gentlemen (the Commissioners) have accomplished, but there are some things which you ought not to have left undone. You should have settled more definitely the question of the Columbia territory.'

Mr. Gallatin was a most able and long-headed man, but even he did not appreciate the correctness of his friend's view, and attributed to personal feelings, the importance which Mr. Astor attached to the subject. He answered with a smile: 'Never mind Mr. Astor, it will be time enough for our great-grandchildren to talk about that in two hundred years.'

'If we live,' replied John Jacob Astor, 'we shall see trouble about it in less than forty years.' Mr. Astor lived to see his prediction verified within the given time."

One who knew Mr. Astor well, said of him. "He saw further into the interests, capacities and destiny of the country of his adoption, than those who were at the head of the government."

With the return of peace, and the withdrawal of the British squadron from New York, Mr. Astor resumed his regular consignment of furs to England and China, and continued his shipping activities until his retirement from commerce in 1827.

John Jacob Astor's Captains were men whose reputation shone with no borrowed luster. The great ship-owner's choice of men to serve in his far-reaching ventures, was usually so wise, that to be one of Astor's Captains spoke volumes in itself. John Whetten, who in his early manhood, had advised young Astor what ship to take to America, was later one of his Captains. Through Mr. Astor's marriage with Miss Sarah Todd, who was the sister of John Whetten's mother, the two young men had become relatives.

Augustus DePeyster is said to have taken to the sea in his boyhood as naturally "as a duck to water." He sailed a number of voyages with Captain John Whetten, and also with Captain Cowman, whom his employer was in the habit of calling his "King of Captains." Captain Cowman was a very severe, stern man, but a good sailor, and a skilled navigator. Such training was likely to serve young DePeyster in good stead, and he passed from sailor to mate, and then to Captain, in Mr. Astor 's employ.

He fought French privateers and came off victorious, sailed with his owner on board as passenger to Europe, and had the honor of commanding the brig "Seneca" belonging to Mr. Astor, which caried the "Proclamation of Peace in 1815, in fifty-five days to the Cape of Good Hope, and then to Java, and China". Captain DePeyster continued in the China trade until 1828. He followed Captain Whetten as Governor of the Sailors' Snug Harbor at Staten Island, and could spin a sea yarn excelled by none.

Captain Isaac Chauncy was another of these noted Captains. He was energetic and fearless, and made several successful voyages to the East Indies as a commander of Mr. Astor's vessels. Captain Chauncy was later head of the New York Navy Yard, appointed chief in command of the waters of the Lakes, and superintended the forming of the Navy. His gallantry was conspicuous in engagements off Tripoli.

John Jacob Astor, John Bobbins, Nathaniel Prime, and John Hone, once served as a committee to look into the advisability of a loan asked for by the State of Ohio. This State of the middle west, had witnessed the success of the Erie Canal, and wished to follow New York in the matter of internal improvements.

Commissioners came on to Wall street to raise money, first applying to Nathaniel Prime, and he advised putting the matter in the hands of the four financiers mentioned.

The committee held a session extending over a night and a day, looking over Ohio 's papers, carefully examining every document, and searching into the laws of the State. After their long and discriminating examination and consultation, they voted in favor of loaning the State the financial assistance she asked for, provided Ohio's Legislature would insert in the law creating the loan, a clause which they mentioned, concerning taxation.

Upon receiving their answer, the commissioners started for the Capital of Ohio. The Legislature was in session, and it promptly amended the law as requested by the money-kings of Wall Street. Then the agents returned to New York, and obtained all the money Ohio needed.

As time passed, Mr. Astor was frequently consulted by the United States Treasury upon financial subjects; and entered into correspondence with Henry Clay, James Monroe, Thomas Jefferson, President Madison, and Albert Gallatin, Secretary of the Treasury, on varied questions of finance.

In 1816 Mr. Astor was appointed a Director of the Bank of the United States, Mr. Gallatin was also a director of this bank, and out of these days of service together, a still warmer friendship grew up between the two men, causing them to be frequently seen in each other's company.