In the preceding chapter we have a list of the claims against the French as computed in 1694, amounting to upwards of 200,000l.; now, however, the amount demanded is not much above 100,000l., though the Memorial explains that in making up the above modest sum, they had not counted up the loss of their forts, nor the damage done to their trade, as had been done in the former case. Immediately after the time of this Memorial of the Company, the Commissioners were named by Great Britain and France, and several meetings took place. Statements were then given in, chiefly as to the boundaries between the British and French possessions in the neighbourhood of Hudson Bay and Canada. The Commissioners for several years practised all the arts of diplomacy, and were farther and farther apart as the discussions went on. No result seems to have been reached, and the claims of the Hudson's Bay Company, so far as recorded, were never met. Peace, however, prevailed in Hudson Bay for many years; the Indians from the interior, even to the Rocky Mountains, made their visits to the Bay for the first forty years of the eighteenth century, and the fur trade, undisturbed, became again remunerative.
[CHAPTER VIII.]
DREAM OF A NORTH-WEST PASSAGE.
Stock rises—Jealousy aroused—Arthur Dobbs, Esq.—An ingenious attack—Appeal to the "Old Worthies"—Captain Christopher Middleton—Was the Company in earnest?—The sloop Furnace—Dobbs' fierce attack—The great subscription—Independent expedition—"Henry Ellis, gentleman"—"Without success"—Dobbs' real purpose.
When peace had been restored by the Treaty of Utrecht, the shores of the Bay, which had been in the hands of the French since the Treaty of Ryswick, were given over to Great Britain, according to the terms of the Treaty; they have remained British ever since. The Company, freed from the fears of overland incursions by the French from Canada, and from the fleets that had worked so much mischief by sea, seems to have changed character in the personnel of the stockholders and to have lost a good deal of the pristine spirit. The charge is made that the stockholders had become very few, that the stock was controlled by a majority, who, year after year, elected themselves, and that considering the great privileges conferred by the Charter, the Company was failing to develop the country and was sleeping in inglorious ease on the shores of Hudson Bay. Certain it is that Sir Bibye Lake was re-elected Governor year after year, from 1720 to 1740.
It would appear, however, to have been a spirit of jealousy which animated those who made these discoveries as to the Company's inaction. The return of peace had brought prosperity to the traders; and dividends to the stockholders began to be a feature of company life which they had not known for more than a quarter of a century. As we shall see, the stock of the Company was greatly increased in 1720, and preparations were being made by the Committee for a wide extension of their operations.
About this time a man of great personal energy appears on the scene of English commercial life, who became a bitter opponent of the Company, and possessed such influence with the English Government that the Company was compelled to make a strenuous defence. This was Arthur Dobbs, Esq., an Irishman of undoubted ability and courage. He conducted his plan of campaign against the Company along a most ingenious and dangerous line of attack.
He revived the memory among the British people of the early voyages to discover a way to the riches of the East, and appealed to the English imagination by picturing the interior of the North American Continent, with its vast meadows, splendid cascades, rich fur-bearing animals, and numberless races of Indians, picturesquely dressed, as opening up a field, if they could be reached, of lucrative trade to the London merchants. To further his purpose he pointed out the sluggish character of the Hudson's Bay Company, and clinched his arguments by quoting the paragraph in the Charter which stated that the great privileges conferred by generous Charles II. were bestowed in consideration of their object having been "The Discovery of a New Passage into the South Sea." Dobbs appealed to the sacrifices made and the glories achieved in earlier days in the attempt to discover the North-West Passage. In scores of pages, the indefatigable writer gives the accounts of the early voyages.