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Canadian Studies Essay On the Rival Fur Trading Companies
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Q: Compare the advantages and disadvantages of the rival fur trade systems used the Hudson’s Bay Company and the North West Company by 1820. In developing an answer to this question firstly it must be asked as to why there were two companies in the first instance. If any one company such as the Hudson’s Bay Company was in fact the most effective and had the most efficient methods then there would have been little room for the creation of another, rival company. The main reason for the hunting of the beavers was the demand back in Europe for Felt for the fashion industry. The first of the two companies was the Hudson’s Bay company which was created in 1670. One of the major advantages which this company faced over its rival the North West company which was set up later was the fact that, it had claim to a large area of territory due to a charter, passed under the Great Seal of England in 1670, which stated that all land from which water drains into the Hudson Bay was their territory (Rich, 1967). This should have been a great advantage for the company but they did not exploit the vastness of the territory instead staying along the coast of Hudson Bay. This was until 1774 when their falling profits, due to competition from rival fur traders, forced them to explore new territories and open inland trading posts, the first being Cumberland House. The Hudson’s Bay Company used the knowledge of the native people to carry out the hunting for them and had a hand full of factory posts on the cost where the skins were picked up in the spring when the conditions were suitable for the ships to arrive.
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