Answer to Question #138632 in History for Arwa

Question

Why do you suppose that the King of England gave a monopoly to the Hudson’s Bay Company? What was in it for England?

Answer 1

King Charles II of England granted a monopoly to Hudson’s Bay Company since he sensed there was a financial opportunity in the Charter. It was granted to the king’s first cousin who was known as Prince Rupert. There was a high demand for beaver pelts and other furs in Europe thereby making the King sense a financial opportunity in the fur trade. The Charter allowed the company to have access to over 1.5 million square miles of land which would make them not have competitors. The Hudson Bay would allow England to have territory over other the French and since Charles knew very well he could not take land that did not belong to him he exploited the indigenous inhabitants using the land ownership idea for the Europeans.