Detail of an painting by Gilbert Stuart, 1794 John Jacob Astor in the Brook Club, New York
On this day, June 23rd, 1810 the Pacific Fur Company was founded by John Jacob Astor in New York City. In 1811, the company established a trading post in Astoria, Oregon. Astor's ambitious plan included a trade ring that included New York City, the old Oregon Country, Russian Alaska, Hawaii and China. Ships were to load Indian trade goods in New York, stopping in Hawaii for provisions the ship would continue on to Columbia and Russian Alaska picking up furs and pelts traded for porcelain, silk, cloth and spices in Canton China and then transported back to New York. At the time, China was the best market for furs.
In the lead up to the War of 1812, the Pacific Fur Company found itself facing threats from British warships and difficulty protecting posts. In October of 1813, the Pacific Fur Company and its assets were sold to the Montreal based North West Company.
John Jacob Astor had built a fur trading empire. While trading furs was certainly the most profitable, Astor began fur goods shops in New York City early on. Later in life he diversified investing in Manhattan real estate and becoming a patron of the arts. It is also said that when trading restrictions and other challenges faced the fur trade, Astor became involved in smuggling opium.
In the lead up to the War of 1812, the Pacific Fur Company found itself facing threats from British warships and difficulty protecting posts. In October of 1813, the Pacific Fur Company and its assets were sold to the Montreal based North West Company.
John Jacob Astor had built a fur trading empire. While trading furs was certainly the most profitable, Astor began fur goods shops in New York City early on. Later in life he diversified investing in Manhattan real estate and becoming a patron of the arts. It is also said that when trading restrictions and other challenges faced the fur trade, Astor became involved in smuggling opium.
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