English Project Work
Hudson Bay: In prospects and retrospect
Submitted to: Submitted by:
Sisay Shega Saneha Khosla (c0712165)
Introduction
You will be surprised by knowing that The Hudson Bay, which is very popular company now a day was founded 347 years ago and is the oldest commercial company in The North America. The company started off during the fur trade in 1670. It is now owned by an America and still a successful company today around the world. around the world.
Who started it?
• Two French traders, Pierre-Esprit Radisson and Medard de Grosseilliers, learned of excellent fur trading grounds and sought
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• After the war, The Bay had new competition from North West Company in Montreal
Years of power and change
• After competing with The North-West Company, HBC becomes the most powerful company in North America.
• In 1821, HBC started trading their furs from other countries.
• New technologies in treading fur made the need for beaver less necessary.
• Silk hats becoming more fashionable and cheaper by using different types of .animals were n ow being used.
Hudson’s Bay Company Today
• Most of the Hudson’s Bay Company stores were in Western Canada until the 1960’s when the company bought several chains in Montreal and shorten their name to the Bay.
• This Lead to the expansion to eastern Canada.
• It was the largest chain store in Canada by 1978.
• The bay was still involved in fur trade up until 1991, when it sold the last of its trading posts.
• It is now a chain of over 90 department stores across Canada and is North America’s oldest company.
• Around the 1980’s the bay bought several retail stores like Zellers, Robinson’s, Simpsons and many more.
It is now a chain of over 90 department stores across
By the 1500s, Europe had destroyed almost their source of fur. The occurrence of the “little ice age” resulted in panic from European countries and a ridiculously high demand for furs. This made fur prices rise and Merchants hungry to sell them. This is similar to when China began to use silver as their national currency, which made merchants eager to trade with them. Different from one another, the fur trade was incredibly competitive in the Americas.
George Simpson played a major role in the fur trade. He had a sharp, ordered mind which impresses Andrew Wedderburn, which would change George Simpson’s life forever. In 1820, Wedderburn offered Simpson a position of acting Governor in Chief of Rupert’s land. George Simpson began to earn admiration from his employers when he devoted his time and energy on promoting discipline and a reorganized fur trade operation. He named his regimen “economy”.
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Due to the fact that only Native Americans were in the Oregon Territory, and they used animal products efficiently and did not hunt unless it was necessary, the animal population was very high. The main animal hunted by trappers were beavers. Their fur had become a commodity due to the near extinction of the creature from over hunting. “The possibility of profiting from the western beaver trade had led,”(McNeese OL) many to the territory in search of wealth and fame.
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French Exploration in the New World French Exploration began about forty years after Columbus sailed to the new world. They hoped to find a passageway that would get them to the east to trade, through America, Along with spreading Christianity with the natives and claiming land. The French found that Furs were a large thing on the trade market. So fur trading became a huge part in French History in America.
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