Dear old Company! From its very origin it conformed to the canons of gentlemanly conduct and laid more emphasis on courtesy than on spelling. Those curious instructions were indicative of its character in later times. But we quite understand that there was other object in that voyage than the North-West Passage.

The two ships sailed for Hudson Bay in the spring of 1668. In mid-ocean they were driven apart by storms. Gillam's Nonsuch with Groseilliers went on, but the Eaglet with Radisson was disabled and forced to return, and the season was now too late to permit Radisson to set sail again until the following spring.

During the interval of enforced idleness Radisson seems to have diligently courted Mary Kirke, the daughter of Sir John, and to have written the account of his journeys through the wilds of America. It is possible that Radisson was inspired to write these journals by Pepys, the celebrated diarist, who was at this time chief clerk of the Admiralty, and who lived next door to the Kirkes on Tower Hill. At any rate it is clear that the journals fell into Pepys' hands, for they were found two hundred years later in the Pepys collection at the Bodleian Library.

In the spring of 1669, on the recommendation of the king, the Admiralty lent the ship Wavero to the adventurers that Radisson might sail to Hudson Bay. In his eagerness Radisson set out too early. For a second time he was driven back by storm, but, on coming in to harbour at Gravesend, what was his delight to find the Nonsuch back from Hudson Bay with Groseilliers and Gillam and such a cargo of furs from the Rupert river as English merchants had never before dreamed!

The Nonsuch had reached Hudson Strait in August of the year before, and the captain, guided by Groseilliers, had steered south for 'the rendezvous' at the lower end of the Bay, where the two French explorers had set up their marks six years before. There, at the mouth of the river named Rupert in honour of their patron prince, the traders cast anchor on September 25. At high tide they beached the ship and piled logs round her to protect her timbers from ice jams. Then they built a fort, consisting of two or three log huts for winter quarters, enclosed in a log palisade. This they named Fort Charles. The winter that followed must have been full of hardship for the Englishmen, but a winter on the Bay had no terrors for Groseilliers. While Gillam and the Englishmen kept house at the fort, he coursed the woods on snow-shoes, found the Indian camps, and persuaded the hunters to bring down their furs to trade with him in the spring. Then, when the wild geese darkened the sky and the ice went out with a rush, preparations were made for the homeward voyage. In June the ship sailed out of the Bay and, as we have seen, had docked at Gravesend on the Thames while the Wavero with Radisson was coming back.

The adventurers lost no time. That winter they applied for a charter, and in May 1670 the charter was granted by King Charles to 'The Governor and Company of Adventurers of England trading into Hudson's Bay.' The ostensible object was to find the North-West Passage; and to defray the cost of that finding a monopoly in trade for all time was given.

Whereas, declares the old charter, these have at their own great cost and charge undertaken an expedition to Hudson Bay for the discovery of a new passage to the South Sea and for trade, and have humbly besought the king to grant them and their successors the whole trade and commerce of all those seas, straits, bays, rivers, creeks, and sounds in whatever latitude that lie within the entrance of the straits, together with all the lands, countries, and territories upon the coasts and confines of the seas, straits, bays, lakes, rivers, creeks, and sounds not now actually possessed by any other Christian state, be it known by these presents that the king has given, granted, ratified, and confirmed the said grant. The adventurers are free to build forts, employ a navy, use firearms, pass and enforce laws, hold power of life and death over their subjects. They are granted, not only the whole, entire, and only liberty of trade to and from the territories aforesaid, but also the whole and entire trade to and from nations adjacent to the said territories, and entrance by water or land in and out of the said territories.

The monopoly could hardly have been made more sweeping. If the adventurers found other territory westward, such territory was to be theirs. Other traders were forbidden to encroach on the region. People were forbidden to inhabit the countries without the consent of the Company. The Company was empowered to make war for the benefit of trade. The charter meant, in a word, the establishment of pure feudalism over a vast region in America. But in the light of the Company's record it may be questioned whether feudalism was not, after all, the best system for dealing with the Indian races. For two centuries under the Company's rule the Indians were peaceable; while in other parts of America, under a system the opposite of feudalism—the come-who-may-and-take-who-can policy of the United States—every step forward taken by the white race was marked by 'bloody ground.'

Absolutism, pomp, formality, and, let it be added, a sense of personal responsibility for retainers—all characteristics of feudalism—marked the rule of the Hudson's Bay Company from the beginning. The adventurers were not merely merchants and traders; they were courtiers and princes as well. Rupert, a prince of royal blood, was the first governor; James, Duke of York, afterwards king, was the second, and Lord Churchill, afterwards the Duke of Marlborough, the third. The annual meetings of shareholders in November and the periodic meetings of the Governing Committee were held at Whitehall, or at the Tower, or wherever the court chanced to be residing. All shareholders had to take an oath of fidelity and secrecy: 'I doe sweare to bee True and faithful to ye Comp'y of Adventurers: ye secrets of ye said Comp'y I will not disclose, nor trade to ye limitts of ye said Comp'y's charter. So help me God.' Oaths of fidelity and bonds were required from all captains, traders, and servants. Presents of 'catt skin counterpanes for his bedd,' 'pairs of beaver stockings for ye King.' 'gold in a faire embroidered purse,' 'silver tankards,' 'a hogshead of claret,' were presented to courtiers and friends who did the Company a good turn. Servants were treated with a paternal care. Did a man lose a toe on some frosty snow-shoe tramp, the Governing Committee solemnly voted him '£4 smart money,' or '£1 for a periwig,' or '£10 a year pension for life.' No matter to what desperate straits the Company was reduced, it never forgot a captain who had saved a cargo from raid, or the hero of a fight, or a wood-runner who had carried trade inland. For those who died in harness, 'funeral by torch-light and linkmen [torchbearers] to St Paul's, Company and crew marching in procession, cost not to exceed £20'; and though the cost might run up higher, it was duly paid, as in one instance on record when the good gentlemen at the funeral had '2 pullets and a dozen bottles of sack' over it at the Three Tuns.