It so continued until the ten-year limit was nearly up, when in 1827
the commission representing the two powers met and re-enacted the
treaty of 1818, which went into effect in 1828. It was a giant
monopoly, but dealing as it did with savage life, and gathering its
wealth from sources which had never before contributed to the world's
commerce, it was allowed to run its course until it came in contact
with the advancing civilization of the United States, and was worsted
in the conflict.
With the adoption of the Ashburton treaty the Hudson Bay Company was
shorn of much of its kingly power and old time grandeur. But it
remained a money-making organization. Under the terms of the treaty
the great corporation was fully protected. This Ashburton treaty was
written in England and from English standpoints, and every property
and possessory right of this powerful company was strictly guarded.
The interests of the company were made English interests.
Under this treaty the United States agreed to pay all valuations upon
Hudson Bay Company property south of forty-nine degrees; while England
was to make a settlement for all above that line. The company promptly
sent in a bill to the United States for $3,882,036.27, while their
dependent company, the Puget Sound Agricultural Company, sent in a
more modest demand for $1,168,000. These bills were in a state of
liquidation until 1864, when the United States made a final
settlement, and paid the Hudson Bay Company $450,000 and the Puget
Sound Company $200,000.
They also, at the time of presenting bills to the United States,
presented one to England for $4,990,036.07. In 1869 the English
government settled the claim by paying $1,500,000. This amount was
paid from the treasury of the Dominion of Canada, and all the vast
territory north of 49 degrees came under the government of the
Dominion. It was, however, stipulated and agreed that the company
should retain all its forts, with ten acres of ground surrounding
each, together with one-twentieth of all the land from the Red river
to the Rocky Mountains, besides valuable blocks of land to which it
laid special claim.
The company goes on trading as of old; its organization is still
complete; it still makes large dividends of about $400,000 per year,
and has untold prospective wealth in its lands, which are the best in
the Dominion.
Among the most interesting facts connected with our title to Oregon
are those in connection with the Louisiana purchase by the United
States from France in 1803. Many readers of current history have
overlooked the fact, that it was wholly due to England, and her
overweening ambition, that the United States was enabled to buy this
great domain. Letters, which have recently been published, written by
those closest to the high contracting parties, have revealed the
romance, and the inside facts of this great deal, perhaps the most
important the United States ever made, and made so speedily as to
dazzle the Nation.
Public-domain text, read in full here on John Shaqi.
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