Moses Austin

Moses Austin, known as the “Lead King” was a major leader in development of the American lead mining industry and promoter of the American colonization of Texas.

Born in Durham, Connecticut Moses built his career as a successful merchant in Philadelphia and Virginia. At the age of 22 he moved to Philadelphia where he married the daughter of a prominent mining family and started the joint business with his brother under the name Moses Austin and Company. In the 1790s the brothers gained control of rich lead deposits in Wythe County, Virginia and established village known as “Austinville” around the mining area. Hearing about the rich lead mines in Missouri, then a part of Spanish Louisiana, Austin managed to expand his mining operations and establish the town Potosi there after he successfully obtained permission from the Spanish Crown in 1798. In efforts to secure his wealth, Austin founded and became a main stockholder in the Bank of St. Louis. Over two decades, Austin became extremely wealthy and respected businessman. Unfortunately, Austin suffered severe losses during the historical events. The economic collapse following the War of 1812 negatively affected the lead industry and he lost his fortune during the Panic of 1819. Although he tried to regain his wealth through plans of establishing an American colony in Texas, he died before its realization.