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.
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