John Jacob Astor Quotes

102 John Jacob Astor Quotes (America’s first multi-millionaire) 1763-1848

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[On the 4th of May 1834 at the age of 71.] Could I begin life again, knowing what I now know, and had money to invest, I would buy every foot of land on the Island of Manhattan.
John Jacob Astor

[On his wife Mrs Astor (Sarah Cox Todd) whom he was married to for 57 years passing away just six years before he did.] She was the best business partner any man ever had.
John Jacob Astor

[On three resolutions he made as a youth soon after leaving school.] To be honest, to be industrious, and not to gamble.
John Jacob Astor

The only hard step in building up my fortune was the first thousand dollars. After that it was easy.
John Jacob Astor

[On one of his business mottoes.] If you wish a thing done, get some one to do it for you; but if you wish it done well, do it yourself.
John Jacob Astor

[On one is his favourite sayings.] To give something for nothing is to weaken the giver.
John Jacob Astor

An ounce of practice is worth a pound of theory.
John Jacob Astor

Wealth is a result of habit.
John Jacob Astor

Good habits in America make any man rich.
John Jacob Astor

[In his early days on future ambitions when a new row of houses in Broadway was the talk of the city from their magnitude and beauty.] I’ll build sometime or other a greater house than any of these, and in this very street.
John Jacob Astor



[‘I am surprised that a man having so much property as yourself should be so anxious to increase it.’ – Stephen Girard (13 years older than Mr Astor and wealthy in his own right.)] You cannot be so much surprised at my course as I am by your remark, coming as it does from a man who has a much greater fortune than I have, and seems much more desirous to enlarge it. [‘Oh yes, but you forget that I have no children to be spoiled by it.’ – Stephen Girard]
John Jacob Astor

From a fort you get a trading post, and from a trading post you will get a city.
John Jacob Astor

The gateway to China will be from the northwest. My plans were correct. Time will vindicate my reasoning.
John Jacob Astor

A man who makes a million dollars is just as well off as if he were rich.
John Jacob Astor

[On being called upon for a charity and donating fifty dollars and then being told by a disappointed committee ‘Oh, Mr. Astor, your son William gave us a hundred dollars.’ – Committee] Yes. But you must remember that William has a rich father.
John Jacob Astor

Nobody would know I was a German - ain't it?
John Jacob Astor

The first hundred thousand dollars – that was hard to get; but afterward it was easy to make more.
John Jacob Astor

[(Astor was not one to show off his wealth and had neither showy expensive tastes nor wasteful vices.) A dandy bank clerk, one day, expressed a doubt as to the sufficiency of his name to a piece of mercantile paper. Astor asked him how much he thought he was worth. The clerk mentioned a sum ludicrously less than the real amount. Astor then asked him how much he supposed this and that leading merchant, who he named, was worth. The young man endowed them with generous sum-totals proportioned to their style of living.] Well, I am worth more than any of them. I will not say how much I am worth, but I am worth more than any sum you have mentioned. [‘Then, you are even a greater fool than I took you for, to work as hard as you do.’ – Young bank clerk (Astor liked to tell this story with great glee a classic example of ‘The Millionaire Next Door’.)]
John Jacob Astor

[On an early time of his life asking his older brother Henry Astor for a loan when he was much better off than him operating and owning a butcher stall. It was a source of annoyance to his brother Henry especially when John Jacob wanted to borrow $200 very badly. ‘John, I will give you $100, if you will agree never to ask me to loan you any money, indorse a note, or sign a bond for you, or be obligated for you in any manner whatever’ – Henry Astor] I hesitated for a moment, rapidly passed the proposition through my mind, saw its advantages, for $100 was $100 in those days. Accepted the proposition and never asked a favor of that character of my brother in after years.
John Jacob Astor

[On needing to borrow $200 from his brother Heinrich (Henry). ‘Two hundred dollars!’ Gott im Himmel, boy, am I made of money? Must you forever be picking at my pocket? – Henry] But it is not that I have been extravagant. You know I have had to expand my business, and with next to nothing to work with. [‘You are a fool to expand beyond your means. Go slow, and be safe.’ – Henry.] I will after this, Heinrich. But I have had to take every opportunity, and if I do not find two hundred – [‘No! No – a thousand times no. Borrowing is becoming a habit with you. You need a lesson.’ – Henry] It will be an expensive one. I will lose half a season’s income. [‘Economize, then. Bah, I tell you what I will do. I will not lend you two hundred dollars, now or any time; but I will give you one hundred dollars, on the understanding that you never seek to borrow from me again.’ – Henry] I’ll talk to Sarah. Perhaps she can find a way for us. But I really need that extra hundred. Heinrich. If you – [‘A hundred I give you. That’s all. A man who goes too fast ends in the Bridewell.’ – Henry] I’ll come back tomorrow.
John Jacob Astor



[On asking his wife Sarah Astor that he needed her to go to his warehouse and give her opinion on some skins. ‘I’m very busy. If I go it will cost you five hundred dollars an hour.’ – Sarah Astor] Agreed.
John Jacob Astor

Well, Sarah. I’m going to load the Beaver. You want to look at them pelts from the Lakes? The musquash, they ain’t so good. [‘I’m a busy woman, Jacob. This is a big house, and the girls- ’ – Sarah Astor] It don’t take long. And I pay you. Ja! [‘How long?’ – Sarah Astor] Maybe one hour, maybe two. Nobody like you to judge furs, Sarah. Come! I pay you. [(Chuckling) ‘You’ll have to pay well to get me away from this housework.’ – Sarah Astor] How much you want? [‘Five hundred dollars an hour, my man.’ – Sarah Astor] You got it. I tell the boys to spread out them packs for you. Ten o’clock ja?
John Jacob Astor

[On selling a lot in the vicinity of Wall Street in 1810 for $8,000.00 that he had purchased in 1802. The purchaser, after the papers were signed seemed to chuckle over his bargain. ‘Why Mr Astor, in a few years this lot will be worth twelve thousand dollars.’] Very true, but now you shall see what I will do with this money. With eight thousand dollars I buy eighty lots above Canal Street. By the time your lot is worth twelve thousand dollars, my eighty lots will be worth eighty thousand dollars. [This later proved to be the fact.]
John Jacob Astor

[On being asked what particular transaction or peculiar kind of business first gave him his great start.] At one period of my life I had accumulated quite a quantity of unsaleable furs in this market, such as beavers. The common furs that I or my agents picked up, namely musk-rat, mink, rabbit, squirrel etc I could sell in the city and at good prices. The other and more costly I had to buy, but could not sell here and they were packed away in whisky casks down in the cellar. I had no correspondent in London to send them to, and no disposition to send them if I had had. After talking over the matter with my wife, we concluded it would be best for myself to go to London with the choicest kind of furs. [He did so. The prospect of the trip was uncertain, and to economize as much as possible, he went out as a steerage passenger.] When I reached London, I found a ready market for my choice furs, and them at a very high rate. I made a list out of such goods as I thought would make money by being taken to the New-York market, purchased and shipped them by a vessel bound hither. After I was all through with his business, I was detained a couple of weeks by the ship not being ready to sail. The idle time I spent in looking about London, and picking up all the information possible, especially such as was likely to advantage my business in New-York. Among other extraordinary places I visited, was the great East-India House. I visited the warehouse and offices. On one occasion I asked one of the porters what the name of the Governor was. The man replied, giving a German name very familiar to myself. I asked my informer if the Governor was an Englishman. He replied that he had come from Germany originally when a boy. I determined to see him – watched an opportunity, and sent in my name. I was admitted. When I entered, I said to the Governor: ‘Is not your name Wilhelm ____? Did not you go to school in such a town?’ [‘I did, and now I remember you very well. Your name is Astor!’ – Governor.] After this, we had a long chat, and talked over old school matters. The Governor insisted that I should dine with him. I declined for that day, but the next [time] they met again. He asked myself several times if there was nothing he could do for myself. I said no; I had bought all I wanted; I needed no cash, or credit. Almost every day we met. The Governor kept urging myself to name something that he could do for myself. He asked what present would be acceptable. I declined any. Finally, we met two days before the vessel was to sail, and again the Governor asked myself if I would accept any present he made myself. Seeing the Governor so anxious, I said: ‘Yes.’ When I called to bid the Governor good-bye, the latter was really quite affected at parting with his old German schoolmate. ‘Take these,’ said he, ‘you may find their value.’ One of the documents was simply a Canton prices current. The other was a carefully engrossed permit on parchment, authorizing the ship that bore it to trade freely and without any molestation, at any of the ports monopolized by the East-India Company. I bade my friend good-bye, and returned to this city, never giving the present a second thought. I had no ships, and never had any trade with the East-Indies, and never expected to have. I little dreamed that in the parchment would be the foundation of vast shipping operations, and a trade amounting to millions, and embracing the Pacific Ocean. The permit was No. 68. When I got home, I showed these documents to my wife, and advised with her, as I always did, what to do in the matter. I said ‘I have no ships – it’s [of] no use to us,’ At that time, there was a very celebrated merchant named James Livermore. He was largely engaged in the West-India trade, particularly to Jamaica. He owned vessels – some of good size. Mrs Astor recommended I go and have a talk with the merchant. I went and showed the East-India Company ship-pass and the Canton prices current. ‘Now,’ I said, ‘if you will make up a voyage for one of your largest ships, you can have the pass and have the prices current, on one condition. You are to furnish ship and cargo, but I am to have one half the profits for my pass and for suggesting the voyage.’ ‘Pah, pah!’ said the great West-India merchant. He laughed at it – would not listen to such a one-sided operation. I went home and reported progress. For a time, the matter was dropped. Not many weeks after, the great West-India merchant thought over the matter. He had made money in the West-India trade, and he saw an opening in the East-Indies. At that time no vessels traded to Canton. It was just after the Revolutionary war, and the East-India ports were as hermetically sealed to American commerce as if it had not existed. He called at my store. ‘Were you in earnest the other day, when you showed me the pass of the East-India Company?’ ‘I was. Never more so.’ Again we talked over the matter. The merchant finally thought he saw his way clear, and an agreement was signed, agreeing to give myself one half the result or profits; and for myself to have no outlay. The ship was selected and loaded; partly with specie – Spanish milled dollars, about $30,000, and the other half was ginseng, lead, and scrap-iron. She went to Canton. The pass enabled her to anchor at Whampoa, a few miles below Canton, where she loaded and unloaded her cargo the same as if she had been a vessel belonging to the East-India Company. Her ginseng, costing twenty cents per pound in New-York, she sold at $3.50 per pound in Canton, lead ten cents, scrap-iron at an enormous price. Tea was purchased that sold here at one dollar per pound profit on the Canton cost. When the return cargo was sold, the accounts were made out, and my half share, which was $55,000 all in silver, was packed in barrels, and sent up to my store. When Mrs Astor saw the barrels, she asked what was in them. ‘The fruits of our East-India pass,’ replied myself. I went to the ship-owner, and got back my pass. I then bought a ship, and loaded her with an assorted cargo. On her way out, she touched at the Sandwich Islands to take in water and fresh provisions. They also laid in a large stock of firewood. When this ship reached Canton a mandarin came on board, and noticing our firewood, asked the price of it at once. Our Captain laughed at such a question, but signified that he was open to an offer. The mandarin offered $500 a ton, and every part of it was sold at that price. That was sandal wood. For seventeen years I enjoyed that lucrative sand-wood trade without a rival. No other concern in the United States or England knew the secret. Nor was it discovered until a shrewd Boston shipowner detailed a ship to follow one of mine, and observe the events of the voyage. Then, for some time, that house was a participant in this valuable trade. It was a curious fact that Mrs Astor knew more of the value of furs than I did. She would select a cargo for the Canton market, and make no mistake.
John Jacob Astor

German Flutes of a superior Quality to be sold at this Printing Office.
John Jacob Astor

[One of Mr Astor’s earliest business advertisements that appeared on the 22nd of May 1786 in the ‘New York Packet’.] Jacob Astor, No. 81 Queen St, two doors from the Friends’ Meeting House, has just imported from London an elegant assortment of musical instruments, such as Piano Fortes, spinets, guitars; the best of violins, German Flutes, clarinets, hautboys, fifes; the best Roman Violin strings and all other kinds of strings; music books and paper, and every other article in the musical line, which he will dispose of on very low terms for cash.
John Jacob Astor

[An advertisement on the 10th of January 1789.] John Jacob Astor, At No. 81 Queen Street, Next door but one to the Friends’ Meeting House, Has for sale an assortment of Piano Fortes of the Newest Construction, made by the best makers in London, which he will sell at reasonable terms. He gives cash for all kinds of Furs and has for sale a quantity of Canada Beavers and Beavering coating, Raccoon Skins, and Raccoon Blankets, Muskrat Skins, etc., etc.
John Jacob Astor

[On making his first purchase of real estate of two lots on Bowery Lane in 1789 at the age of 26 paying cash for it.] Two hundred and fifty pounds (about six hundred and twenty-five dollars) current money of the State of New York.
John Jacob Astor

[In 1790 on how he appeared in the city Directory.] Astor, J. J., Fur Trader, 40 Little Dock Street.
John Jacob Astor

[On his first day in the New World (America) when he stayed three weeks in Baltimore before leaving for New York.] I took a walk to see the town, getting up Market Street. While standing and looking about, a little man came out of his shop. This was Nicholas Tuschdy. He addressed me saying – young man I believe you are a stranger, to which I replied yes. Where did you come from – from London – but you are not an Englishman, no a German. Then he says we are near countrymen. I am a Swiss – we are glad to see people coming to this country from Europe. On this he asked me into his house and offered me a glass of wine and introduced me to his wife as a countryman. He offered his services and advice while in Baltimore and requested me to call again to see him.
John Jacob Astor



[On dropping into a children’s party in the home of a friend and a pretty six-year-old girl caught his eye and when he asked her her name, she answered ‘My name is Sarah Sherburne Langdon.’] For your sake, I shall have to forgive your mother and father. [The girls mother was Mr Astor’s daughter Dolly (Dorothea) Astor who had married Colonel Walter Langdon before discussing it with Mr Astor and it took him seven years to forgive her.]
John Jacob Astor

[On Captain John Ebbets who had rescued a number of men during a bloody Indian uprising in New Archangel.] Enjoyed both the esteem and confidence of the Indians and had long been known to Mr Baranov [Governor Alexander Baranov], who had seen proof of his trustworthiness in many a business transaction.
John Jacob Astor

[In 1810 to four partners about to embark on the Tonquin.] If you find the Indians kind, as I hope you will, be so to them. If otherwise, act with caution and forbearance, and convince them that you come as friends.
John Jacob Astor

[In 1810 to Captain Thorn of the Tonquin.] I must recommend you to be particularly careful on the coast, and not to rely too much on the friendly disposition of the natives. All accidents which have yet happened there, arose from too much confidence in the Indians.
John Jacob Astor

[On learning that the crew of the Tonquin were all killed in an encounter with Indians from the interpreter who survived after being enslaved for several months.] Calamity the length of which I could not forsee.
John Jacob Astor

[On a friend expressing his surprise at his calmness after learning about such a disastrous event with the Tonquin.] What would you have me do? Would you have me stay at home and weep for what I cannot help?
John Jacob Astor

[On Robert Stuart telling him of Mr Hunt’s safe arrival at Astoria.] I felt ready, to fall upon my knees in a transport of gratitude.
John Jacob Astor

[In 1814 on being asked by Secretary of treasury Gallatin that he join with Stephen Girard (The only person reputed to be richer than him) and loan the government $10 million. This loan became the first bond syndicate in American history. Mr Astor bought $2 million worth of government paper at a rate of $88 for a $100 certificate yielding 6 percent. On the 15th of August 1814 Mr Astor wrote to Girard in Philadelphia to suggest they each come up with $4 or $5 million more and he hinted at movements towards peace.] We have just now a prize Schooner arrived with English accounts of 8 July they state that G. Britain had appointed and send 5 commissioners to meet our and that the General believes was peace if you do like to loan to government 4 or 5 million dollars and will loan it to me I will give you stocks at a low rate and my note with good name to make it perfectly safe to you. I want it not for myself but I wish to help the treasury at this particular moment.
John Jacob Astor

[On the 22nd of July 1814.] I presume you are not to mind opinions in matters of which you can judge better than those who have them. Still, I wish you to know them.
John Jacob Astor

[To his brother George Astor on the 14th of September 1814.] Your voyage I expect will turn out unprofitable, for the great expense and delay attending it will I fear half consume the property however I am anxious the business would up and to know the worst of it, the whole has been a scene of misfortune, disaster and disappointment, Muskrats are not in demand. I have a large quantity on hand and cannot get 30c for them…
John Jacob Astor



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