Shortly afterwards another influence was felt. Mr. Cole, who had been recently elected to the Senate from California, acting in behalf of certain persons in that State, sought from the Russian Government a license or franchise to gather furs in a portion of its American possessions. The charter of the Russian American Company was about to expire. This company had already underlet to the Hudson’s Bay Company all its franchise on the main-land between 54° 40´ and Cape Spencer; and now it was proposed that an American company, holding directly from the Russian Government, should be substituted for the latter. The mighty Hudson’s Bay Company, with headquarters in London, was to give way to an American company, with headquarters in California. Among letters on this subject addressed to Mr. Cole, and now before me, is one dated San Francisco, April 10, 1866, in which the scheme is developed:-- “There is at the present time a good chance to organize a fur-trading company, to trade between the United States and the Russian possessions in America; and as the charter formerly granted to the Hudson’s Bay Company has expired, this would be the opportune moment to start in.… I should think that by a little management this charter could be obtained from the Russian Government for ourselves, as I do not think they are very willing to renew the charter of the Hudson’s Bay Company, and I think they would give the preference to an American company, especially if the company should pay to the Russian Government five per cent. on the gross proceeds of their transactions, and also aid in civilizing and ameliorating the condition of the Indians by employing missionaries, if required by the Russian Government. For the faithful performance of the above we ask a charter for the term of twenty-five years, to be renewed for the same length of time, if the Russian Government finds the company deserving,--the charter to invest us with the right of trading in all the country between the British American line and the Russian Archipelago.… Remember, we wish for the same charter as was formerly granted to the Hudson’s Bay Company, and we offer in return more than they did.” Another correspondent of Mr. Cole, under date of San Francisco, September 17, 1866, wrote:-- “I have talked with a man who has been on the coast and in the trade for ten years past, and he says it is much more valuable than I have supposed, and I think it very important to obtain it, if possible.”