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Modern
Challenges and Reorganization
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In 1867,
the Dominion of Canada was formed and a new country was born.
The government of Canada did not want the Americans to claim the
land in the west, so they sent George-Étienne
Cartier to England to ask for the rights to Rupert's Land.
HBC surrendered its rights in exchange for some land and money.
In 1870 the Queen granted this land to Canada for future settlement.
The Deed
of Surrender in 1869 marked the beginning of HBC as a modern company.
The fur trade was no longer its only line of business: it had new
jobs to do. One was to sell its land to the farmers, settlers
and developers. The other was to provide the supplies that were
needed to build the new settlements. The challenge ahead for the
HBC was to change its trading posts into a chain of retail stores.
In 1881 it opened its first modern store in Winnipeg, Manitoba.
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During
the First World War, Hudson's Bay Company had an important role.
With a fleet of almost 300 ships, it supplied food, fuel and
ammunitions to Britain, France and Russia. Its ships also transported
troops. Altogether, 100 of its ships were sunk by submarines,
ships or other weapons during the war.
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After
World War I, the company expanded into other areas of business.
It began to develop oil, gas and minerals on its lands, which were
profitable until the stock market crash of 1929. Once again, the
HBC had to rebuild.
Copyright
The Nascopie in Ice
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Why
was the forming of the Dominion of Canada in 1867 important
to HBC?
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