“That is true,” said Mr. Astor, “but see what I intend doing with these eight thousand dollars.  I shall buy eighty lots above Canal Street, and by the time your one lot is worth twelve thousand dollars, my eighty lots will be worth eighty thousand dollars.”

His expectations were realized.

During the war of the Revolution, Roger Morris and his wife, Mary, of Putnam County, were obliged to flee from the country to England for adhering to the cause of King George, and, being attainted by the authorities as public enemies, their immense estate, consisting of fifty-one thousand one hundred and two acres, was seized by the State of New York, and sold in small parcels to farmers, who believed the title thus acquired valid.  In 1809, there were upwards of seven hundred families residing on this land.  Mr. Astor, having learned that Roger and Mary Morris possessed only a life interest in their property, and having ascertained to his satisfaction that the State could not confiscate the rights of the heirs, purchased their claim, which was good not only for the land, but for all the improvements that had been put upon it.  He paid twenty thousand pounds sterling for it.  A few years previous to the death of Mrs. Morris, who survived her husband some years, Mr. Astor presented his claim.  The occupants of the land were thunderstruck, but 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.”