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In the 17th century, the French had a monopoly on the Canadian fur trade. However, two French traders, Pierre-Esprit Radisson and Médard des Groseilliers (Médard de Chouart, Sieur des Groseilliers), Radisson's brother-in-law, learned from the Cree that the best fur country was north and west of Lake Superior and that there was a "frozen sea" still further north.[19] Assuming that this was Hudson Bay, they sought French backing for a plan to set up a trading post on the Bay, thus reducing the cost of moving furs overland. According to Peter C. Newman, "concerned that exploration of the Hudson Bay route might shift the focus of the fur trade away from the St. Lawrence River, the French governor", Marquis d'Argenson, "refused to grant the coureurs de bois permission to scout the distant territory."[19] Despite this refusal, in 1659 Radisson and Groseilliers set out for the upper Great Lakes basin. A year later they returned from their expedition with premium furs, evidence of the potential of the Hudson Bay region. Subsequently, they were arrested for trading without a licence and fined, and their furs were confiscated.
Determined to establish trade in the Hudson Bay, Radisson and Groseilliers approached a group of business men in Boston, Massachusetts to help finance their explorations. The Bostonians agreed on the plan's merits but their speculative voyage in 1663 failed when their ship ran into pack ice in Hudson Strait. This came to the attention of Boston-based English commissioner Colonel George Cartwright, who brought the two to England to elicit financing.[19] Radisson and Groseilliers arrived in London in 1665 at the height of the Great Plague. Eventually, the two met and received the sponsorship of Prince Rupert. Prince Rupert also introduced the two to his cousin, King Charles II.[20] In 1668, the English acquired two ships, the Nonsuch and the Eaglet, to explore possible trade into Hudson Bay. The Nonsuch was commanded by Captain Zachariah Gillam, who was accompanied by Groseilliers, while the Eaglet was commanded by Captain William Stannard and accompanied by Radisson. On 5 June 1668, both ships left port at Deptford, England, but the Eaglet was forced to turn back off the coast of Ireland.[21]
The Nonsuch continued to James Bay, the southern portion of Hudson Bay where its explorers founded the first fort on Hudson Bay, Charles Fort (later Rupert House, now Waskaganish, Quebec[22]), at the mouth of the Rupert River. Both the fort and the river were named after the sponsor of the expedition, Prince Rupert of the Rhine, one of the major investors and soon to be the new company's first governor. After a successful trading expedition over the winter of 1668-1669, the Nonsuch returned to England on 9 October 1669, with the first cargo of fur resulting from trade in Hudson Bay. The bulk of the fur - worth £1,233 - was sold to Thomas Glover, one of London's most prominent furriers. This and subsequent purchases by Glover made it clear that the fur trade business in Hudson Bay was indeed viable.[23]
Rupert's Land, the drainage basin of Hudson Bay, the company's grant.
The Governor and Company of Adventurers of England Trading into Hudson's Bay was incorporated on 2 May 1670, with a royal charter from King Charles II.[24] The charter granted the company a monopoly over the region drained by all rivers and streams flowing into Hudson Bay in northern Canada. The area was called Rupert's Land after Prince Rupert, the first governor of the company appointed by the King. This region, the drainage basin of Hudson Bay, constitutes 1.5 million square miles (3.9×106 km2), comprises over one-third the area of modern day Canada and stretches into the north central United States. The specific boundaries were unknown at the time. Rupert's Land would eventually be Canada's largest land purchase in the 1800s.
The HBC established six posts between 1668 and 1717. Rupert House (1668, southeast), Moose Factory (1673, south) and Fort Albany, Ontario (1679, west) were erected on James Bay; three other posts were established on the western shore of Hudson Bay proper: Fort Severn (1689), York Factory (1684) and Fort Churchill (1717). Inland posts were not built until 1774. After 1774, York Factory became the main post because of its convenient access to the vast interior waterway systems of the Saskatchewan and Red rivers. Called "factories" (because the "factor," i.e., a person acting as a mercantile agent did business from there), these posts operated in the manner of the Dutch fur trading operations in New Netherlands.
The Hudson's Bay Company (HBC) was formed in 1670 when King Charles II of England granted a royal charter to two French explorers, Pierre-Esprit Radisson and Médard Chouart des Groseilliers. The company was established to exploit the fur trade in North America, with a focus on the Hudson Bay region.
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What rock is formed when limestone is metamorphosed?
Marble is formed when limestone is metamorphosed. This process occurs when the mineral calcite in limestone recrystallizes due to heat and pressure, resulting in a denser, harder rock with a crystalline structure.
Why did david Thompson become an explorer?
David Thompson became an explorer because he had a passion for adventure, mapping new territories, and expanding geographical knowledge. He was also hired by the North West Company to survey and map the fur-trading routes in North America.
When was stone mountain formed?
Stone Mountain in Georgia was formed over 300 million years ago during the formation of the Blue Ridge Mountains. The granite monadnock that makes up Stone Mountain is one of the oldest geological features in the world.
What Hawaiian islands formed first?
The oldest Hawaiian islands are Kauai and Niihau, which are believed to have formed around 5 million years ago. These islands are located in the northwest part of the Hawaiian island chain and are considered the oldest because they were the first to emerge from the volcanic activity that formed the islands.
What was the Hawaiin island formed out of?
The Hawaiian Islands were formed by volcanic activity millions of years ago. The islands formed as a result of magma rising up from the Earth's mantle through a hotspot beneath the Pacific tectonic plate. Over time, repeated volcanic eruptions built up the islands we see today.
How did the old hbc retain control over the new hbc after the merger with the nwc?
HBC kept control by controlling the trade routes, which brought a lot of money into the HBC.
When the hbc and the nwc merged why did they keep the hbc's name?
Because HBC was the more powerful one, either way it's now called "The Bay."
Why did the NWC and the HBC merge?
the hbc had alot of hot women and the nwc thought if they merged witht he hbc thy could maybe have some sexy time
Who owns the the HBC?
The initials HBC usually means, in Canada, the Hudson's Bay Company.
When was HBC opened?
HBC (The Hudson's Bay Company) was founded in 1670 by King Charles II.
Who are the owners of hbc?
The initials HBC usually means, in Canada, the Hudson's Bay Company.
Why is HBC important?
T
What does hbc sell today?
Hbc, sell anything from clothes, dishes, bedding, curtain and much much more
What did the HBC and the NWC do in the 1821?
Merge
Who established the HBC?
The HBC was founded on 2 May 1670 when King Charles granted a charter to his cousin Prince Rupert and his associates.
Why is the Hudson Bay company important for WA settlers?
The HBC purchased furs from settlers and sold goods brought in via York Factory from the Atlantic. HBC also brought in goods from the Pacific. The HBC was the big block store of it's day.
What is the limit on a HBC credit card?
The limit for an HBC credit card is communicated to the purchaser of a new Hudson Bay Company credit card directly. This is the only way that one can determine the cash limit and credit limit on an HBC credit card.
