jan 1, 1650 - Fur Trade

Description:

After the early European explorers realized Canada was not the spice-rich Orient, the main profit-making attraction was the beaver population. In the late 1600s and early 1700s, the fashion of the day demanded fur hats, which needed beaver pelts. As these hats became more popular, the demand for the pelts grew.

King Henry IV of France saw the fur trade as an opportunity to acquire much-needed revenue and to establish a North American empire. Both English and French fur traders were soon selling beaver pelts in Europe at 20 times their original purchase price.