How did the Hudson's Bay Company expand the fur trade?
1 Answer
Initially, the Hudson Bay Company established trading posts on the Hudson Bay, and James Bay coasts with Natives bringing furs to the trading posts.
Explanation:
This contrasted with the competing North West Company's strategy of sending traders to a network Native villages to purchase furs.
By using the Hudson Bay as a base of trade they opened a large relatively untouched trading area west of Hudson Bay.
They also standardized a payment system based on "Made Beaver" or Beaver pelts as a standard currency.
The Hudson Bay "point blanket" was a popular trade item.
The Hudson's Bay Company later opened inland trading posts or "Factory" based on a Head Trader known as a "Factor".
The Hudson's Bay Company and the North West Company were forcibly merged in 1821 after a history of violent incidents.
