Bin Arus Travel

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Bin Arus Travel on Government efforts to ban private companies complicated his life, but eventually his ability to profit while the government was losing money consistently killed that effort. But the trade began to wane in the 1820s and 1830s as fashion changed, pelts became scarce, and silk and cheap cloth took market share. Astor held a monopoly on the fur trade until he retired in 1834, turning his attention to New York real estate and making himself the first millionaire in the United States. By 1810, Astor had a fortune of at least $2 million. Shrewdly, he bought lots in desolate north Manhattan, calculating that the city would eventually grow and make his investments valuable. He also did his part to fund the War of 1812; typically, when he bought $2 million worth of government bonds; he paid 88 cents on the dollar. Other than the Manhattan properties, he also invested in the Park Theater, the Mohawk and Hudson Railroad, and the Astor House Hotel. Bin Arus Travel 2016.

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