INTRODUCTION. XXXIX 



The Company divide their hunting-grounds into 33 

 districts and 152 posts. Most of the latter are under 

 the charge of a chief trader. They are estabhshed 

 throughout Canada, where blankets, powder, trade-guns, 

 vermilion, etc., are exchanged for furs. As it takes a 

 long time for the outfit to go out, and the expenses of 

 transit and portages are so great, the profits ought to 

 compensate for the interest and risks incurred. This 

 was formerly the case, but now the profits are reduced 

 by the encroachments of other traders. Still, however, 

 the Indians give the preference to their old friends, the 

 Hudson's Bay Company. The Company formerly leased 

 Fort Yukon and district in Alaska, and had also an 

 agency in the Sandwich Islands (1847). 



York Factory on Hayes Eiver is the chief depot, and 

 has substantial buildings. The majority of the forts 

 consist merely of square wooden stockades, sometimes 

 with the addition of a tower. Fort Pitt was taken by 

 the half-breeds a few years ago at the rising of Eiel. 

 On the transfer of Eupert's Land to the Canadian 

 Government in 1870, it was agreed that £'300,000 should 

 be paid by the latter to the Hudson's Bay Company ; 

 the Company should retain all their posts, and have also 

 the option of selecting a block of land adjoining their 

 posts within any part of British North America, with 

 the exception of Canada proper and British Columbia. 



The furs, bought or exchanged at the different trading 

 posts from the Indians, are packed in small square 

 packages, so as to be easily transported over the differ- 

 ent portages near the falls. They are carried by canoes 

 to the depots, whence they are shipped to London, there 

 to be sold by auction. Next to the Beaver, which is the 

 most important skin traded with by the Company, the 

 Mink, Martin, Bear, and Fisher, form considerable 



