the right was on his side. The State of New York had simply robbed the
heirs of their rights. There was no weak point in the claim. Having
given defective titles to the farmers, the State was of course
responsible for the claim; and upon finding out their mistake, the
authorities asked Mr. Astor to name the sum for which he would be
willing to compromise. The lands were valued at six hundred and
sixty-seven thousand dollars, but Mr. Astor expressed his willingness to
sell for three hundred thousand dollars. His offer was refused. In 1819,
a second proposition was made to Mr. Astor by the Legislature of the
State. He replied: "In 1813 or 1814 a similar proposition was made to me
by the commissioners then appointed by the Honorable the Legislature of
this State when I offered to compromise for the sum of three hundred
thousand dollars, which, considering the value of the property in
question, was thought very reasonable, and, at the present period, when
the life of Mrs. Morris is, according to calculation, worth little or
nothing, she being near eighty-six years of age, and the property more
valuable than it was in 1813. I am still willing to receive the amount
which I then stated, with interest on the same, payable in money or
stock, bearing an interest of -- per cent., payable quarterly. The stock
may be made payable at such periods as the Honorable the Legislature may
deem proper. This offer will, I trust, be considered as liberal, and as
a proof of my willingness to compromise on terms which are reasonable,
considering the value of the property, the price which it cost me, and
the inconvenience of having so long _lain out_ of my money, which, if
employed in commercial operations, would most likely have produced
better profits."

This offer was not accepted by the Legislature, and the cause was
delayed until 1827, when it was brought before the courts. It was argued
by such men as Daniel Webster and Martin Van Buren, on the part of the
State, and by Thomas Addis Emmett, Ogden, and others for Astor. The
State had no case, and the matter was decided in Astor's favor. Then the
State consented to compromise. The famous Astor stock, which paid that
gentleman about five hundred thousand dollars, was issued, and the
titles of the possessors of the lands confirmed.

The most important of all of Mr. Astor's undertakings was his effort at
founding the settlement of Astoria, on the coast of Oregon. This
enterprise has been made