may 2, 1670 - Formation of the HBC
Description:
Having hats, jackets and other clothes made from different animal furs like mink, fox, marten and particularly beaver became quite desirable in the early to mid 1600s. The availability of these furs through trading with the North America Natives joined with the high European demand was a business plan two French men brought to England in 1665. They succeeded in gaining funding for the endeavor and through the adventure proving to be profitable, the Hudson Bay Company is created and declared on May 2, 1670.1 This is particularly important because Hudson’s Bay trading posts quickly expanded across what is now known as Canada while promoting the relationship between different indigenous groups as well as encouraging colonization. Through the HBC, the British government significantly profits from the fur trade which helped to build and promote settlement. Without the trading posts expanding across Canada as fast as they did, it may not have all been claimed as British territory.
1. Ray, Arthur J. Hudson's Bay Company. In The Canadian Encyclopedia. Historica Canada. Article published April 02, 2009; last modified April 04, 2018, 1. https://www.thecanadianencyclopedia.ca/en/article/hudsons-bay-company
Added to timeline:
Important events leading up to the Canadian Confederation
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