THE FUR TRADERS. LI 



Missouri and to the south was largely in the hands of the 

 Missouri Company. Finding the power of these competing 

 companies too great to be combatted by him individually 

 he offered, if given aid and protection by the Government, 

 to turn the whole fur trade of the continent into American 

 channels. In 1809, being assured of Government support, 

 he secured from the Legislature of the State of New York 

 a charter incorporating the American Fur Company with 

 a capital of one million dollars all of which was furnished 

 by himself. 



The Canadian companies still continued their rivalry; 

 and Mr. Astor, feeling that the fur trade would not advan- 

 tageously admit of this foreign competition because of the 

 advantage which the restrictions placed by the United 

 States Government upon its citizens in their dealings with 

 the Indians gave to their competitors, who had a free hand 

 in regard to the sale of liquor and other articles, made a 

 new arrangement by which, in conjunction with certain . 

 partners of the Northwest Company, he bought out the 

 Mackinaw Company. With the sanction of the United 

 States Government he merged the Mackinaw Company and 

 the American Company into a new corporation known as/ 

 The South West Company. By this combination he came 

 into immediate possession of half of the posts and goods 

 belonging to the Mackinaw Company in the United States, 

 with the understanding that the balance would be conveyed 

 to the South West Company at the end of five years, if 

 during that time no attempt was made by the American 

 Company to trade within the British dominion. This 

 merger was suspended by the War of 1812, and was finally 

 entirely dissolved by an act of Congress prohibiting Brit- 

 ish fur companies from prosecuting their operations within 

 the territory of the United States. 



While the companies we have mentioned were pushing 

 their various enterprises in the east ; Captain Cook and 

 others reported that vast quantities of sea otter were to be 

 found along the Pacific coast, and that the skins of these 

 animals were bringing fabulous prices in China. "It was 

 as if a new gold field had been discovered. There was a 

 rush of adventurers from all sections to join in this traffic, 

 and, in 1792, twenty-one vessels, under different flags, but 

 most of them owned by Boston merchants, were trading 



