Essay on The History of the Hudson Bay Company

Essay on The History of the Hudson Bay Company

Length: 2439 words (7 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

Fur trading started between the Europeans along with the Aboriginals when the most valuable beaver pelts was a substituted for metal and clothing goods such as iron knives and axis, copper kettles, blankets and trinkets. The beaver pelts were well desired by the Europeans for the reason that using this fur for headgear provided an elegant way to keep dry. However these pelts were for fashion, as men and women could be instantly noted within the social hierarchy by according to their beaver hats. It was so valuable that the sand on the floor was filtered to save every hair that has fallen off. For the Europeans, captivating advantages of the rich furs from the Indians in the New World was a major factor in generating handsome profits, and there is no other pelt exchanging business enterprise like the Hudson's Bay Company. It is the oldest venture of Canada and it inspired many by its domination in the fur trading industry during its early years. They equipped their own armies, minted its own coins and even issued its own medals. The company had controlled fully one-third of present-day Canadian territory and were thought by many as a kingdom by itself in the fur industry. They had trading posts from the very north Arctic Ocean to Hawaii and as far south as San Francisco. HBC's revenue didn't generate simply from this one way trade in furs to Europe; it also consists of large amounts of European goods to North America. These goods incorporated many other products that local people cannot construct such as gunpowder, bullets, weapons, tobacco, kettles, pots, beads, fishing hooks, needles, scissors, and so much more. The Hudson's Bay Company showed a great measure of success since its formation, but it didn't come without s...

... middle of paper ...

...echi. Within two decades since their competition was formed, they had lost 78% of the fur trade business in Canada. The Bay started to see its deficit in the west and started its development closer to the Rockies during 1813-1820.

The war for domination in trading furs broke out many battles of war; the Seven Oaks Incident of 1816 was the most memorable of all. It was the worst conflict and result no winner. In June 1819, the HBC captured numerous partners and men from NWC which ruined the Nor'westers reputation and their business that year. The NWC were worried about their company's future when major shareholders had different views on the business. The HBC at that time grew more profitable, attaining stronger revenues and reducing the Nor'westers business. The conflict between the two companies ended when HBC brought NWC through a merger in 1820.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay The Bay

- INTRODUCTION The Hudson’s Bay Company is the oldest incorporated merchandising company in the world. The Bay has remained in business in North America after its incorporation on May 2, 1670 by the Royal Charter. The official title of the company is, “The Governor and Company of Adventurers of England trading into Hudson’s Bay”. This title is usually shortened to “Hudson’s Bay Company” or, just “the Bay. I was attracted to the Hudson’s Bay Company because firstly, I am frequently shop at the Bay....   [tags: The Hudson’s Bay Company]

Free Essays
3039 words (8.7 pages)

Essay on Hudson Bay Company in Canada: From Mercantilism to Corporatism

- Introduction Canadian economic history is often taken as an obscure and comprehensive subject. From the time Canada was a colony of Great Britain, to the official proclamation of the confederation on July 1st 1867, Canada adopted many economic ideologies that established Canada as developed nation. Mercantilism is one of many of the earliest theories that the Canadian economic system adapted from the Great Britain. According to Dyer, “Mercantilist system relied on trade with the colonies to supply the mother country with raw materials, where the end goal was a trade surplus and accumulate a treasury that was used to fight wars with one another.” As history progressed, Canada was shaping up...   [tags: Trade, Management]

Strong Essays
1668 words (4.8 pages)

The History of the Metis Essay

- The History of the Metis The Metis were partly french and partly indian. Their leader was called Louis riel. Following the Union of the Hudson's Bay Company and the North West Company in 1821, trading had been reorganized in order to reduce expenses. Since there was no longer competition in the fur trade, it was unnecessary to have two or more posts serving a single trading district. For this reason, some posts had been closed and the number of brigades reduced. This reorganization had led to some unemployment amoung Metis who for years had been working in the fur trade....   [tags: World History]

Free Essays
528 words (1.5 pages)

Essay about History of Alberta

- Date Entered into Confederation: Alberta became a province of Canada in 1905. They joined into Confederation because of many reason. One of the big factors was because of the fur trading. Canada was in big demand of fur, therefore having Alberta join would add to their business. Another reason was because of Manifest Destiny, the construction of an inter-colonial railway between Canada and the Maritimes was necessary since all goods were being transported on American lines. The Grand Trunk Railway needed increased traffic on its line to avoid bankruptcy....   [tags: essays research papers]

Free Essays
757 words (2.2 pages)

History of Okanagan Essay

- While searching for an accessible route to transport furs to the Pacific, Europeans began exploring the B.C. Interior. In 1811 Scottish trader and explorer David Stuart of the Pacific Fur Company sailed to the junction of the Columbia and Okanagan rivers and built Fort Okanagan. He then travelled north to Thompson River and in so doing, established the Okanagan Valley trail that united the Upper Fraser and Lower Columbia sections. By 1824 the trail was dominated by the activities of the Hudson's Bay Company which provided fur caravans along the lake hills until 1847....   [tags: Papers]

Free Essays
579 words (1.7 pages)

THe beginning of Seattle history Essay

- THe beginning of Seattle history The coast of Washington is rich with the history of early America. While much of the United States was still in its infancy, Washington was thriving with industry. Though the industry was large, the towns were just beginning to grow. Though Washington’s coastal towns offered much to its citizens, it was the logging industry that started it all. In this paper, I will discuss the growth of the logging industry, specifically in relation to Seattle, and the resulting extension industries in the development of what is now our nations largest port city....   [tags: essays papers]

Free Essays
1800 words (5.1 pages)

Essay about The Hudsons Bay Company

- Lawmaking is a complicated, complex and comprehensive process which involves the locating, focusing and directing of social control. There are strong theories about the essence of social control. Some sociologists have even concluded that social control as a concept should be discarded totally because its power as an analytical tool was weakened through an unhealthy combination of overuse and under-explanation. As Chunn and Gavigan point out, it is not sufficient to use social control as an analytic tool when one begins with the approach that (1) either the meaning of the concept is too obvious to need definition or (2) the concept is undefinable but can be used without being defined....   [tags: essays research papers fc]

Free Essays
3141 words (9 pages)

Essay about Louis Riel: His Background, His Life, His History

- Louis Riel: His background, His life, His History Throughout the mid-eighteen hundreds, the Metis and First Nations people saw a lot of changes due to the increased numbers of White settlements. Throughout their struggles, one Metis man stood up in defense of his people and land. This is a story of the life of Louis Riel, the man who changed it all. His background, his roots, his history. Louis Riel was born on October 22, 1884 in the area of the Red River Settlement, St. Boniface, Manitoba and was the first of eleven children born to Louis Riel and Julie Lagimodiere....   [tags: Metis, First Nations, Canada]

Strong Essays
2638 words (7.5 pages)

Essay about Brief Canadian History

- 1. As the government of Canada was taking its first steps as a united country after confederation it was eying a vast amount of land which is now part of the Canadian prairies and Manitoba. The Canadian government was interested in Rupert’s land because Canada wanted to expand from sea to sea (A Mari Usque Ad Mare) therefore accomplishing sir MacDonald vision for a bigger better Canada. One of the main reasons why Canada was eager to buy Rupert’s land was because good farmable land was scarce in Ontario....   [tags: Settlers, Rebels, Expansion]

Strong Essays
1190 words (3.4 pages)

Bay Of Pigs Essay

- In an attempt to over throw the Cuban government the United States fully funded and planned the invasion of southern Cuba also know as the Bay of Pigs Invasion. The U.S. had landed armed Cuban exiles in southern Cuba in attempting to overthrow the government of Fidel Castro in 1961.this marked the climax of anti Cuban U.S. actions. The failure of the Bay of Pigs invasion was caused by misinformation lack of strategic planning and mismanagement, the consequences of that was 2x4 to the face for the Americans and a major increase in tensions between the two super powers of the world during the cold war....   [tags: US History Cuba Bay Pigs]

Free Essays
971 words (2.8 pages)