How did the Hudson's Bay Company expand the fur trade?
Initially, the Hudson Bay Company established trading posts on the Hudson Bay, and James Bay coasts with Natives bringing furs to the trading posts.
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.
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