Still, the competition of two rival companies west of the Rocky Mountains could not but prove detrimental to both, and fraught with those evils, both to the trade and to the Indians, that had attended similar rivalries in the Canadas. To prevent any contest of the kind, therefore, he made known his plan to the agents of the Northwest Company, and proposed to interest them, to the extent of one third, in the trade thus to be opened. Some correspondence and negotiation ensued. The company were aware of the advantages which would be possessed by Mr. Astor should he be able to carry his scheme into effect; but they anticipated a monopoly of the trade beyond the mountains by their establishments in New Caledonia, and were loth to share it with an individual who had already proved a formidable competitor in the Atlantic trade. They hoped, too, by a timely move, to secure the mouth of the Columbia before Mr. Astor would be able to put his plans into operation; and, that key to the internal trade once in their possession, the whole country would be at their command. After some negotiation and delay, therefore, they declined the proposition that had been made to them, but subsequently despatched a party for the mouth of the Columbia, to establish a post there before any expedition sent out by Mr.
Astor might arrive.
In the meantime Mr. Astor, finding his overtures rejected, proceeded fearlessly to execute his enterprise in face of the whole power of the Northwest Company. His main establishment once planted at the mouth of the Columbia, he looked with confidence to ultimate success. Being able to reinforce and supply it amply by sea, he would push his interior posts in every direction up the rivers and along the coast; supplying the natives at a lower rate, and thus gradually obliging the Northwest Company to give up the competition, relinquish New Caledonia, and retire to the other side of the mountains. He would then have possession of the trade, not merely of the Columbia and its tributaries, but of the regions farther north, quite to the Russian possessions. Such was a part of his brilliant and comprehensive plan.
He now proceeded, with all diligence, to procure proper agents and coadjutors, habituated to the Indian trade and to the life of the wilderness. Among the clerks of the Northwest Company were several of great capacity and experience, who had served out their probationary terms, but who, either through lack of interest and influence, or a want of vacancies, had not been promoted. They were consequently much dissatisfied, and ready for any employment in which their talents and acquirements might be turned to better account.
Mr. Astor made his overtures to several of these persons, and three of them entered into his views. One of these, Mr. Alexander M'Kay, had accompanied Sir Alexander Mackenzie in both of his expeditions to the northwest coast of America in 1789 and 1793.
The other two were Duncan M'Dougal and Donald M'Kenzie. To these were subsequently added Mr. Wilson Price Hunt, of New Jersey. As this gentleman was a native born citizen of the United States, a person of great probity and worth, he was selected by Mr. Astor to be his chief agent, and to represent him in the contemplated establishment.
On the 23d of June, 1810, articles of agreement were entered into between Mr. Astor and those four gentlemen, acting for themselves and for the several persons who had already agreed to become, or should thereafter become, associated under the firm of "The Pacific Fur Company."According to these articles, Mr. Astor was to be at the head of the company, and to manage its affairs in New York. He was to furnish vessels, goods, provisions, arms, ammunition, and all other requisites for the enterprise at first cost and charges, provided that they did not, at any time, involve an advance of more than four hundred thousand dollars.
The stock of the company was to be divided into a hundred equal shares, with the profits accruing thereon. Fifty shares were to be at the disposition of Mr. Astor, and the other fifty to be divided among the partners and their associates.
Mr. Astor was to have the privilege of introducing other persons into the connection as partners, two of whom, at least, should be conversant with the Indian trade, and none of them entitled to more than three shares.
A general meeting of the company was to be held annually at Columbia River, for the investigation and regulation of its affairs; at which absent members might be represented, and might vote by proxy under certain specified conditions.
The association, if successful, was to continue for twenty years;but the parties had full power to abandon and dissolve it within the first five years, should it be found unprofitable. For this term Mr. Astor covenanted to bear all the loss that might be incurred; after which it was to be borne by all the partners, in proportion to their respective shares.
The parties of the second part were to execute faithfully such duties as might be assigned to them by a majority of the company on the northwest coast, and to repair to such place or places as the majority might direct.
An agent, appointed for the term of five years, was to reside at the principal establishment on the northwest coast, and Wilson Price Hunt was the one chosen for the first term. Should the interests of the concern at any time require his absence, a person was to be appointed, in general meeting, to take his place.
Such were the leading conditions of this ascociation; we shall now proceed to relate the various hardy and eventful expeditions, by sea and land, to which it gave rise.
* Carver's Travels, Introd. b. iii. Philad. 1796.
** Carver's Travels, p. 360.
*** On this point Mr. Jefferson's memory was in error. The proposition alluded to was the one, already mentioned, for the establishment of an American Fur Company in the Atlantic States.
The great enterprise beyond the mountains, that was to sweep the shores of the Pacific, originated in the mind of Mr. Astor, and was proposed by him to the government.