John Jacob Astor founded the American Fur Company in 1808 and grew it to be a dominant fur trading business in North America. Through aggressive business tactics like lobbying Congress to pass laws restricting foreign competitors, acquiring rivals, and forcing Native American tribes to trade exclusively with his company, Astor established a fur trading monopoly across the Midwest. However, declining demand for beaver pelts as silk became more fashionable, along with overhunting, led to the collapse of the fur trade by the 1830s. Astor then shifted his business interests to lucrative New York City real estate, becoming one of the wealthiest men in America.

1. AMERICAN FUR COMANY
By-
Gaurav Singhal
Christ University,
Bangalore

2. MR. ASTOR
 Born in a butcher family in 1763 in Germany
 Left village at age 15 and went to London
 Went to America at age 20
 No education, speak poor english, and had little
money

3. BUSINESS
 During the voyage to America, a fur trader
taught him about the fur business
 Got a job in a bakery
 Invested his $2 income in trinkets
 Within a year collecteda ship lod of fur and
challenged the gov
 Become the 2nd richest man
 Paid bribes to the govt official Lewis Cass
 Advanced a personal loan to President James
Mornoe

4.  Assured that his new company could drive the
foreigners out
 include other wealty entrepreneur
 Issue stocks
 New company would enhance US security
 Took 4 partners
 Etablished BOD and retain 99.9% of stocks
 Became the president

5. PLANS
 Setting up a trading post in the Columbia river
and named it Astoria
 Wanted fur taken in west to come to Astoria and
shipped to China
 He was forced to sell Astoria after world war of
1812

6. STRATEGY
 Lobbied the congress into passing a law
forbidding foreigners from trading in US
 In 1826 astor merged with Bernard Prett
 He bought and liqidated Bone Bostwick
 He bankrupted Menard and Valle

7.  Encouraged Indians to take trade goods on credit
 Forced indians to trade with him only, to work
unlimited hours and in bad conditions

8. CHANGE
 Demand for beaver skin declined and fashion
changed form Fur to silk
 Furthur declined because of 1832 chlera epidemic
 Prices fell
 Astor liquidated all fur trading interest
 Earned more money in New York real estate.

9. Questions

10. 3. IMPACTS OF FUR TRADE ON
 Economy-
Fur was light so it was easier for traders to
transport by mules, barges, and ships to eastern
port and than to Europe.
 Cultural-
He donot care about the environment and treated
the poor like slaves, no good working condition for
workers and treated them badly.

11.  Technological-
Innovation of steamboat which travel 100 miles a
day
 Natural-
Drift of fashion from fur to silk
Prices dropped
Beavers extinguised
 Governemt-
Was influenced the the trade
Was controlled by Astor