The sea-otter seems to have had its chief habitat on the Pacific shore from Oregon to Alaska, and, as the ships of all nations began to crowd upon the location of the fabled Strait of Anian, the trade with the natives for these precious furs became constantly augmented, until the curious and interesting creatures, so fatally attractive, were added to the long list of “lower creatures” whom the greed of the “higher creatures” has exterminated. A book by Coxe published in London in 1787 first made known to the English-speaking people the rich profits of the Russians from the transportation of the sea-otter skins to China. He instanced a case of a profit of $50,000 from a single cargo. It had, however, been known in 1785 from the report of the voyage of Captain Cook that the North-west Coast of America contained a new source of wealth from the accumulation of these furs by the Indians and their eager desire to trade them for trinkets and implements of civilised manufacture.

The first American to comprehend the greatness of the fur-trade on the North-west Coast of the Pacific, both as a means of profit to himself and as a patriotic impulse to direct his own nation into the channels of westward expansion, was John Ledyard. Thomas Jefferson and John Paul Jones became deeply interested in Ledyard’s extravagant hopes of future wealth and glory, but all his efforts came to naught, and in 1788 this brilliant adventurer, just on the eve of setting out to explore the interior of Africa, suddenly put an end to his own life at Cairo, Egypt. Ledyard should always be remembered by his countrymen, for, though his glowing visions were unfulfilled, he was an important link in the great chain which bound Oregon to our own country.

During these same years, several Englishmen, already noted in the chapter on discovery, Portlock, Dixon, Hanna, Barclay, and Meares, were actively engaged in the fur-trade, while the voyages of La Pérouse and Marchand carried the flag of France on the same quest, and Spain’s once illustrious emblem of world dominion was borne by Quadra, Valdes, Galiano, Fidalgo, Quimper, Caamano, and several others. While these explorers all were impelled in part by national pride and diplomacy, the hope of sharing the spoils of the sea-otter droves was the chief lure to the tempestuous seas of the North Pacific.

In Bullfinch’s Oregon and El Dorado is a very interesting narration of the inception of the American part in the fur-trade of Oregon. In a building known as the Coolidge Building in Boston a company were gathered together in 1787 discussing the reports, then first made public, of Cook’s voyages. Mr. Joseph Barrell, a rich merchant of Boston, was much impressed with Cook’s account of the chances of barter with the Indians for furs and the disposal of them in China for yet more profitable cargoes of teas, silks, and other characteristic commodities of that land. As a result of this conference, a company was formed in Boston to prosecute such enterprise, the members of the company, Messrs. Barrell, Brown, Bulfinch, Darby, Hatch, and Pintard, being among the foremost of the business men in Boston in that good year of the creation of the American Constitution.

The enterprising Yankees rapidly drew to the front, so that during the years from 1790 to 1818, the records show one hundred and eight American vessels regularly engaged in the business, while only twenty-two English, with a few Portuguese and French are found. It should, of course be remembered that the tremendous strife of the Napoleonic Wars was engrossing the attention of European nations during that time. So well known did the Boston navigators become in that period that the common name of Americans used by the Oregon Indians was “Bostons.” Robert Gray, the discoverer of the Columbia River, was fitted out by Bulfinch and others of the first Boston Company. During the period under consideration the profits of the traffic were usually very great, though variable, sometimes actual losses being incurred, while disaster from wreck, storm, scurvy, and murderous Indians was frequent. During the two years, 1786 and 1787, if Dixon is to be followed, there were sold in Canton five thousand eight hundred sea-otter hides for $160,700. Swan figures that with the four years ending with 1802, forty-eight thousand five hundred skins were sold. Sturgis states that he knew a capital of $50,000 to yield a gross income of $284,000. He relates that he had collected as high as six thousand fine skins in a single voyage and once secured five hundred and sixty of the best quality in one day. The Indians, however, learned to become very expert traders, and as they discovered the eagerness with which the whites sought their furs, they raised the price. They became, moreover, very capricious and unreliable, so that the phenomenal profits could no longer be obtained.

The stage of the history of the fur-trade of which we have thus far spoken may be called its first era of a free-for-all rush to the new seas, with no vast moneyed interests in any position of leadership. But commercial conditions were already in existence which were bound to reverse the situation.

Great operators, gigantic companies, foreshadowings of the great trusts of the present, with monopolistic aims, were seeking the ear of the British Government, while enterprises, larger, though not so monopolistic, were rapidly forming in the United States. The great monopolies of Europe had indeed existed long prior to the period of the Oregon fur-traders. As far back as the beginning of the sixteenth century, De Monts, Pontgrave, Champlain, and other great French explorers had secured monopolies on the fur-trade from Louis XIII. and his minister, Richelieu. Later La Salle, Hennepin, D’Iberville, and others had the same advantages. The St. Lawrence, the Great Lakes, and the upper Mississippi were the great “preserve” of these great concessionaires. The English and their American Colonists set themselves in battle array against the monopolistic Bourbon methods of handling the vast domain which the genius and enterprise of De Monts and Champlain had won for France, with the result that upon the heights of Abraham the Fleur-de-Lis was lowered before the Cross of St. George, and North America became English instead of Gallic, and one of the world’s milestones was set for good. Then by one of those beautiful ironies of history which baffle all prescience, victorious Britain violated the principles of her own conquest and adopted the methods of Bourbon tyranny and monopoly, with the result that another milestone was set on the highway of liberty and the new continent became American instead of European.

But out of the struggles of that century, French, English, and American, out of the final distribution of territory, by which England retained Canada and with it a large French and Indian population, mingled with English and Scotch,—out of these curious comminglings, economic, commercial, political, religious, and ethnic, grew the great English fur companies, whose history was largely wrought out on the shores of the Columbia, and from whose juxtaposition with the American State-builder the romance and epic grandeur of the history of the River largely comes.

Many enterprises were started by the French and English in the seventeenth century, but the Hudson’s Bay Company became the Goliath of them all. The first charter of this gigantic organisation was granted in 1670 by Charles II. to Prince Rupert and seventeen others, with a capital stock of ten thousand five hundred pounds. From this small beginning, the profits were so great that, notwithstanding the loss of two hundred thousand pounds from the French wars during the latter part of the century, the Company declared dividends of from twenty-five to fifty per cent.

The field of operations was gradually extended from the south-eastern regions contiguous to Hudson’s Bay until it embraced the vast and dreary expanses of snowy prairie traversed by the Saskatchewan, the Athabasca, the Peace, and finally the Mackenzie. Many of the greatest expeditions by land under British auspices which resulted in great geographical discoveries were primarily designed for the expansion of the fur-trade.