The
Other Proceedings Of Captain Sowle Were Equally Wrongheaded And
Unlucky.
He was offered one hundred and fifty thousand dollars
for the fur he had taken on board at St. Paul's. The goods for
which it had been procured cost but twenty-five thousand dollars
in New York.
Had he accepted this offer, and re-invested the
amount in nankeens, which at that time, in consequence of the
interruption to commerce by the war, were at two thirds of their
usual price, the whole would have brought three hundred thousand
dollars in New York. It is true, the war would have rendered it
unsafe to attempt the homeward voyage, but he might have put the
goods in store at Canton, until after the peace, and have sailed
without risk of capture to Astoria; bringing to the partners at
that place tidings of the great profits realized on the outward
cargo, and the still greater to be expected from the returns. The
news of such a brilliant commencement to their undertaking would
have counterbalanced the gloomy tidings of the war; it would have
infused new spirit into them all, and given them courage and
constancy to persevere in the enterprise. Captain Sowle, however,
refused the offer of one hundred and fifty thousand dollars, and
stood wavering and chaffering for higher terms. The furs began to
fall in value; this only increased his irresolution; they sunk so
much that he feared to sell at all; he borrowed money on Mr.
Astor's account at an interest of eighteen per cent , and laid up
his ship to await the return of peace.
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