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I met a friend one day in the street, and told him my intentions. "You buy the American Museum?" said he with surprise, for he knew that my funds were at ebb-tide; "what do you intend buying it with?"

"Brass," I replied, "for silver and gold I have none."

It was even so.

The Museum building, I learned, belonged to Mr. Francis W. Olmsted, a retired merchant, who had a suite of rooms in Park Place. How to approach this great man was a question. I was acquainted with no one who knew him, and to enter his presence without an introduction, I considered equivalent to being kicked out of his house. I therefore wrote him a letter, informing him that I desired to purchase the Museum collection, and that although I had no ready means, if it could be purchased upon a reasonable credit I was entirely confident that my tact and experience, added to a most determined devotion to business, would enable me to make the payments when due. On this basis I asked him to purchase the collection in his own name -- give me a writing securing it to me provided I made the payments punctually, including the rent of his building -- allow me twelve dollars and a half a week on which to support my family -- and if at any time I failed to meet the instalment due, I would vacate the premises and forfeit all that might have been paid to that date. "In fact, Mr. Olmsted," I continued in my earnestness, "you may bind me in any way, and as tightly as you please -- only give me a chance to dig out, or scratch out, and I will either do so or forfeit all the labor and trouble which I may have incurred."

I also endeavored to show Mr. Olmsted, that by making this arrangement he would secure a permanent tenant, whereas if I did not make the purchase the Museum would probably soon be closed. I added, that if he would have the goodness to grant me an interview, I should be happy to give him satisfactory references, and would also submit to any reasonable conditions which he might propose.

I took the letter myself; handed it to his servant, and in two days afterwards I received a reply, naming an hour for me to call on him. I was there at the exact moment, and Mr. Olmsted expressed himself pleased with my punctuality. He eyed me closely, and put several home questions regarding my habits and antecedents. I told him frankly my experience in the way of a caterer for public amusements -- mentioned Vauxhall Garden, the circus, and several exhibitions that I had managed in the South. I was favorably impressed with Mr. Olmsted's appearance and manner. He indeed tried to assume an austere look, and to affect the aristocrat; but I thought I could see the good, open-hearted, noble man peering through his eyes, and a subsequent intimate acquaintance proved the correctness of my impressions respecting him.

"Who are your references?" he inquired.

"Any man in my line," I replied; "from Edmund Simpson, manager of the Park Theatre or William Niblo, to Messrs. Welch, June, Titus, Turner, Angevine, or other circus or menagerie proprietors; also Moses Y. Beach of the New-York Sun."

"Can you get any of them to call on me?" he continued.

I informed him that I could, and it was arranged that they should call on him the next day, and myself the day afterwards. My friend Niblo willingly rode down in his carriage, and had an interview with Mr. Olmsted. Mr. Beach and several others among the gentlemen named also called, and on the following morning I waited upon the arbiter of my fate.

"I don't like your references, Mr. Barnum," said Mr. Olmsted abruptly, as soon as I entered the room.

I was confused, and said "I regretted to hear it."

"They all speak too well of you," he added, laughing; "in fact they talk as if they were all partners of yours, and intended to share the profits."

This intelligence, of course, pleased me. Mr. Olmsted then inquired if I could not induce some friend to give bonds as security that I should meet the installments as they became due. I thought it was doubtful.

"Can you offer me any security in case I should make the purchase for you?" was his still more direct question.

I thought of several small pieces of land which I owned in Connecticut, but they were severely afflicted with mortgages. "I have some land and buildings in Connecticut, but there are encumbrances on them," I replied.

"Yes, yes; I don't want mortgaged property," said Mr. O.; "I should probably have to redeem it."

During further conversation, it was agreed that if he concluded to make the purchase for me, he should retain the property until it was all paid for; and should also appoint (at my expense) a ticket-receiver and accountant, who should render him a weekly statement. It was further stipulated that I should take in an apartment in the adjoining building, hitherto used as a billiard-room, and allow therefor five hundred dollars per year, making the entire rent three thousand dollars per annum, on a lease of ten years. I felt that in all this I had been liberal in my propositions and agreements, and hoped that the wealthy landlord would demand no more concessions. But he wanted something more.