On October 4, 1784, Benjamin and Joseph Frobisher, the directors of the North West Company, memorialized General Haldimand, praying him to recommend to His Majesty’s ministers to grant to the North West Company an exclusive privilege of trade from Lake Superior to that country for ten years only as a reward “for discovering a new passage to the River Ouinipigue and thereby effectively securing to this Province the Furr trade to the North West. And in consideration, also, of exploring at their own expense between the latitudes of 55 and 65, all that Tract of Country west of Hudson’s Bay to the North Pacific Ocean and communicating to Government such surveys and other information respecting that Country as it may be in their power to obtain.” Mr. Peter Pond, one of the company, in memorializing Governor Hamilton on the 18th of April in the following year, begs him to recommend the memorial, already mentioned, of the Frobishers “as a plan which will be productive of Great National advantages” and the ten years’ exclusive monopoly as “only a reward for the toil and expense of such an arduous and public Spirited Enterprise.” This company gained in strength. While its headquarters were in Montreal, it had “wintering” partners in the interior posts. Fort William became the meeting ground of the partners who were merchant princes of the period for the annual meetings which are described by Washington Irving in “Astoria” as marked with great splendour. It provided serious competition for the Hudson’s Bay Company. The policy of the latter had been only to trade in the winter with the natives, thus making a close season in summer. Their posts were at first all on the coast, but the competition forced them also to seek interior quarters. The contributions to our geographical knowledge provided by the earlier explorers of the first North West Company include the first overland journey to the Pacific Ocean made by Sir Alexander Mackenzie in 1793 and his previous descent in 1789 from Lake Athabasca to the Arctic Ocean by the Mackenzie River, called after this explorer, from Montreal. The discovery of the Peace River must also be attributed to him. In 1798, troubles arising among the partners, the seceding party formed a rival firm popularly known as the “X.Y.” from those initials following the W. in N.W. Company.[2] Jealous and rancourous friction arose again and the two companies were amalgamated in 1804 into one firm called the North West Company. It became a powerful body, purely Canadian and with exclusive privileges. Sir Alexander Mackenzie was its moving spirit and his cousin Roderick became one of the chief agents.