In 1803, Missouri came under the jurisdiction of the United States as part of the Louisiana Purchase. Austin became founder and principal stockholder in the Bank of St. Louis, but the bank failed in the Panic of 1819, causing him to lose his entire fortune. He again sought help from Spain. In 1820, Austin traveled to the Presidio San Antonio de Béxar in Spanish Texas and presented a plan to colonize Texas with Anglo-Americans to Governor Antonio María Martínez. In 1821, the governor asked Austin's friend, Erasmo Seguín, to give him the news that he had been awarded a land grant and permission to settle three hundred families in Texas. On Austin's return trip, he became ill, and he died in June 1821, shortly after arriving back in Missouri. His son Stephen F. Austin carried out his colonization plan several years later, and led the three hundred families to what became the first Anglo-American settlement in Texas.