He Was Aware Of The Wish Of The American Government,
Already Stated, That The Fur Trade Within Its Boundaries Should
Be In The Hands Of American Citizens, And Of The Ineffectual
Measures It Had Taken To Accomplish That Object.
He now offered,
if aided and protected by government, to turn the whole of that
trade into American channels.
He was invited to unfold his plans
to government, and they were warmly approved, though the
executive could give no direct aid.
Thus countenanced, however, he obtained, in 1809, a charter from
the legislature of the State of New York, incorporating a company
under the name of "The American Fur Company," with a capital of
one million of dollars, with the privilege of increasing it to
two millions. The capital was furnished by himself he, in fact,
constituted the company; for, though he had a board of directors,
they were merely nominal; the whole business was conducted on his
plans and with his resources, but he preferred to do so under the
imposing and formidable aspect of a corporation, rather than in
his individual name, and his policy was sagacious and effective.
As the Mackinaw Company still continued its rivalry, and as the
fur trade would not advantageously admit of competition, he made
a new arrangement in 1811, by which, in conjunction with certain
partners of the Northwest Company, and other persons engaged in
the fur trade, he bought out the Mackinaw Company, and merged
that and the American Fur Company into a new association, to be
called the "Southwest Company." This he likewise did with the
privity and approbation of the American government.
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