"The Hudson's Bay Company is now the only survivor of the numerous exclusive bodies, to which almost every branch of British trade was at one time subjected. The Northwest Company, after a long and furious contest, destructive alike to the interests of both, and most demoralizing to the savage aborigines, were at length obliged to yield to their rivals; and, in consequence of their overstrained exertions, they became involved beyond their capital. They obtained in 1821 an honorable capitulation. On transferring all their property and means of influence, the principal partners were admitted to shares in the Hudson's Bay Company, who took the inferior officers into their service. Thus these two concerns were united, with great advantage to the peace of the fur countries, and perhaps to the permanent interests of the trade. A great blank was indeed felt in the city where the partners had resided, and where, according to Washington Irving, they had held huge feasts and revels, such as are described to have taken place in Highland castles. 'The hospitable magnates of Montreal, the lords of the lakes and forests, have passed away,' and that city, as to the fur trade, has sunk to a subordinate station. "In the present case, there are some peculiar circumstances which plead strongly in favor of the monopoly exercised by the Hudson's Bay Company. For example, their trade is carried on throughout vast regions, free from all control of law, and tenanted by savage races, who are easily prompted to deeds of violence. The struggle with the Northwest Company filled large tracts with outrage, often amounting to bloodshed. The article, too, by far the most prized by those tribes, and which, amid an eager rivalry, can not be prevented from coming into the market, is spirits, the immoderate use of which is productive of the most dreadful consequences. The company, by their present position, obtained the opportunity, of which they have most laudably availed themselves, to withdraw it altogether as an object of trade, merely giving an occasional glass when the natives visit the factories. They have even prohibited it from passing, under any pretext, to the northward of Cumberland House, on the Saskatchawan, so that all the settlements beyond form complete temperance societies. Another very important specialty in their case consists in the nature of the commodities drawn from this range of territory, namely, they are such as human industry can not produce or multiply according to the demand. The wild animals, which afford its staple of furs and skins, exist only in a limited number, and being destined to give way in proportion as colonization advances, will soon be thinned, or even utterly exterminated. Bands of individual hunters, with no permanent interest in the country, capture all they can reach, young and old indiscriminately, without any regard to keeping up the breed. Thus the beaver, the most valuable of the