The made beaver was not merely a quirky fur-trade currency; it was the accounting mechanism of one of the most powerful colonial trading monopolies in North America. After England chartered the Hudson’s Bay Company in 1670, the company established trading posts across the Hudson Bay basin and by 1718 held a monopoly over commerce in the region. Because Britain had no standardized currency in Canada, HBC officials defined one high-quality winter beaver pelt as a made beaver and used it to price both imported goods and Indigenous furs. In 1795, eight knives or one kettle could be obtained for a made beaver, while a gun cost ten. These rates turned animal pelts obtained through Indigenous hunting networks into a tightly managed commercial system controlled by distant company officials in London.
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AI concept artworkArchive Record · 1600s–1800s
The Made Beaver: Hudson’s Bay Company Monopoly and the Commercial Emptying of the Fur Frontier
Hudson’s Bay Company and its trading posts / 1600s–1800s
The made beaver was not merely a quirky fur-trade currency; it was the accounting mechanism of one of the most powerful colonial trading monopolies in North America. After England chartered the Hudson’s Bay Company in 1670, the company established trading posts across the Hudson Bay basin and by 1718 held a monopoly over commerce in the region. Because Britain had no standardized currency in Canada, HBC officials defined one high-quality winter beaver pelt as a made beaver and used it to price both imported goods and Indigenous furs. In 1795, eight knives or one kettle could be obtained for a made beaver, while a gun cost ten. These rates turned animal pelts obtained through Indigenous hunting networks into a tightly managed commercial system controlled by distant company officials in London.
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