This agreement presents a few salient points:—
1. The concession to France of rights (undefined, it is true), but of rights not hitherto acknowledged by the English.
2. The case of the Company, which would have been seriously prejudiced by Article VII., is kept open, and commissioners are appointed to examine and decide boundaries.
3. The claim for damages so urgently pressed by the Hudson's Bay Company receives some recognition in the restoration of merchandize and the investigation into the "value of the goods lost."
4. On the whole, the interests of the Hudson's Bay Company would seem to have been decidedly prejudiced by the Treaty.
The affairs of the Company were in a very unfortunate condition for fifteen years after the Treaty of Ryswick. The Treaty took place in the very year of D'Iberville's remarkable victories in the Bay. That each nation should hold that of which it was in actual possession meant that of the seven Hudson's Bay Company forts, only Fort Albany was left to the Company. The Company began to petition at once for the appointment of the Commissioners provided by the Treaty, to settle the matter in dispute. The desperate condition of their affairs accounts for the memorials presented to the British Government by the Company in 1700 and in the succeeding year, by which they expressed themselves as satisfied to give the French the southern portion of the Bay from Rupert's River on the east and Albany Fort on the west. About the time of the second of these proposals the Hudson's Bay Company sent to the British Government another petition of a very different tone, stating their perilous condition, arising from their not receiving one-fifth of the usual quantity of furs, even from Fort Albany, which made their year's trade an absolute loss; they propose that an expedition of "three men-of-war, one bomb-vessel, and 250 soldiers" should be sent to dislodge the French and to regain the whole Bay for them, as being the original owners. No steps on the part of the Ryswick Commissioners seem to have been taken toward settling the question of boundaries in Hudson Bay.
The great Marlborough victories, however, crushed the power of France, and when Louis XIV. next negotiated with the allies at Utrecht—"The Ferry of the Rhine"—in 1713, the English case was in a very different form from what it had been at the Treaty of Ryswick. Two years before the Treaty, when it was evident that the war would be brought to an end, the Hudson's Bay Company plucked up courage and petitioned strongly to be allowed the use of the whole of Hudson Bay, and to have their losses on the Bay repaid by France. Several times during the war had France sued for peace at the hands of the allies, but the request had been refused. To humble France seemed to be the fixed policy of all her neighbours. At the end of the war, in which France was simply able to hold what she could defend by her fortresses, the great kingdom of Louis XIV. found itself "miserably exhausted, her revenue greatly fallen off, her currency depreciated thirty per cent., the choicest of her nobles drafted into the army, and her merchants and industrious artisans weighed down to the ground by heavy imposts." This was England's opportunity, and she profited by it. Besides "the balance of power" in Europe being preserved, Great Britain received Nova Scotia, Newfoundland, certain West India Islands, and the undisturbed control of the Iroquois.
Sections X. and XI. of the Treaty are of special value to us in our recital. By the former of these the entire west coast of Hudson Bay became British; the French were to evacuate all posts on the Bay and surrender all war material within six months; Commissioners were to be appointed to determine within a year the boundary between Canada and the British possessions on Hudson Bay. Section XI. provided "that the French King should take care that satisfaction be given, according to the rule of justice and equity, to the English Company trading to the Bay of Hudson, for all damages and spoil done to their colonies, ships, persons, and goods, by the hostile incursions and depredations of the French in time of peace." This was to be arrived at by Commissioners to be appointed.
If the Hudson's Bay Company, to quote their own language in regard to the Treaty of Ryswick, had been left "the only mourners by the peace," they were to be congratulated on the results of the Treaty of Utrecht. As in so many other cases, however, disputed points left to be settled by Commissioners lingered long before results were reached. Six years after the Treaty of Utrecht, the Memorial of the Hudson's Bay Company shows that while they had received back their forts, yet the line of delimitation between Canada had not been drawn and their losses had not been paid.
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.
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