Studies in American History 
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to rise.^° The Maumee and Wabash valleys produced enor- 
mous numbers of raccoons and thus became for a few years 
the center of interest of the fur business of America. 
In 1836, at the time of the first great advance in the price 
of raccoons, the American Fur Company got the bulk of the 
stock. Brewster had advance information of the increased 
demand and, with plenty of capital, was first among the trap- 
pers. The Ewings bought cautiously, however, and made ‘‘a 
very large profit'’ from their collection. 
In 1837 the fur business became very uncertain. The price 
in Europe continued good, but the panic in America made capi- 
tal difficult to get and produced a feeling of timidity among 
American business men that made them unwilling to take any 
chances. To add to the confusion, a German fur buyer 
named Hotte came to Detroit and began paying high prices 
for minks and raccoons. This hurt the purchases of the 
American Fur Company and curtailed the trade of the Ew- 
ings."^^ Another cause of fear was the knowledge that the 
Hudson Bay Company was importing vastly increased quan- 
tities of furs from the Columbia, and it was believed that 
these importations would depress prices."^^ Under these cir- 
cumstances Hotte was left to buy the Maumee furs almost 
without competition. He paid forty-five cents for raccoons 
and fifty cents for mink and resold in Europe at a big profit.'^® 
In the fall of 1837, Brewster began his fur-buying early. 
He engaged George Hunt, of Fort Wayne, to take charge of 
the trade in the valleys of the Maumee, Wabash, and White 
rivers. Hunt succeeded in buying twenty thousand raccoons 
of Conner, a trader along the White River, and in buying an 
equally large collection of Coquillard. He tried also to get the 
Crooks to Brewster, April 26, 1836. “Reports from Lampson that since autumn 
racoons have advanced 50% . . . minks 40 to 50%. ” He urged Brewster to hurry 
to buy raccoons as buyers “will go mad”. Ibid., No. 3. Raccoon advanced from 25 
cents in New York in 1828 to around $1 in 1836. 
Suydam, Sage, and Company to W. G. and G. W. Ewing, New York, December 
26, 1836, in Ewing Paupers. 
“There never was such a time in the commercial world here & Failures of our 
best Houses are numerous and of daily occurence. From our debtors we receive almost 
nothing . . . Confidence is completely prostrated.” R. Crooks to S. Abbott, New 
York, May 6, 1837, in American Fur Company Letter Book, No. 4. 
“W. B. Hotte has injured us at Detroit by paying all round for coons 60 c, 
minks 45 c.” R. Crooks to Lampson, June 19, 1837, in Ibid., No. 5. “Our collection 
of furs & peltries this spring will be but small.” W. G. Ewing to Suydam, Sage, and 
Company, January 23, 1837, in Ewing Letter Book. 
Crooks to Brewster, June 15, 1837, in American Fur Company Letters. 
Brewster to Crooks, June 13, 1837, in ibid. 
