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nydus/The History of the Great American FortunesPublic

This work examines the origins of large American fortunes by analyzing the social and industrial systems that facilitate their accumulation. The author seeks to move beyond both celebratory narratives and sensationalist critiques to provide a factual, systemic interpretation of how these vast concentrations of wealth are formed.

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Table of Contents

CHAPTER III

THE PUBLIC UPROAR OVER ASTOR'S CLAIM.

They appealed to the Legislature. This body, influenced by the public uproar over the transaction, refused to recognize Astor's title. The whole State was aroused to a pitch of indignation. Astor's claim was generally regarded as an audacious piece of injustice and robbery. He contended that he was not subject to the provision of the statute directing sales of confiscated estates which provided that tenants could not be dispossessed without being paid for improvements. In fine, he claimed the right to evict the entire seven hundred families without being under the legal or moral necessity of paying them a single cent for their improvements. In the state of public temper, the officials of the State of New York decided to fight his claim. Astor offered to sell his claim to the State for $667,000. But such was the public outburst at the effrontery of a man who had bought what was virtually an extinct claim for $100,000, and then attempting to hold up the State for more than six times that sum, that the Legislature

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