American Fur Trading Company
| Private | |
| Industry | Fur trade |
| Fate | Dissolved |
| Successor | None |
| Founded | New York City, U.S. (1808) |
| Founder | John Jacob Astor |
| Defunct | 1847 |
| Headquarters | New York City |
|
Area served
|
United States and Territories |
The American Fur Company (AFC) was founded in 1808, by John Jacob Astor, a German immigrant to the United States. During the 18th century, furs had become a major commodity in Europe, and North America became a major supplier. Several British companies, most notably the North West Company and the Hudson's Bay Company, were eventual competitors against Astor and capitalized on the lucrative trade in furs. Astor capitalized on anti-British sentiments and his commercial strategies to become one of the first trusts in American business and a major competitor to the British commercial dominance in North American fur trade. Expanding into many former British fur-trapping regions and trade routes, the company grew to monopolize the fur trade in the United States by 1830, and became one of the largest and wealthiest businesses in the country.
Astor planned for several companies planned to function across the Great Lakes, the Great Plains and the Oregon Country to gain control of the North American fur trade. Comparatively inexpensive manufactured goods were to be shipped to commercial stations for trade with various Indigenous nations for fur pelts. The sizable number of furs collected were then be brought to the port of Guangzhou, as pelts were in high demand in the Qing Empire. Chinese products were in turn be purchased for resale throughout Europe and the United States. A beneficial agreement with the Russian-American Company was also planned through the regular supply of provisions for posts in Russian America. This was planned in part to prevent the rival Montreal based North West Company (NWC) to gain a presence along the Pacific Coast, a prospect neither Russian colonial authorities or Astor favored.
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Wikipedia