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. About this time a man of great personal energy appears on the scene of English commercial life, who became a bitter opponent of the Company, and possessed such influence with the English Government that the Company was compelled to make a strenuous defence. This was Arthur Dobbs, Esq., an Irishman of undoubted ability and courage. He conducted his plan of campaign against the Company along a most ingenious and dangerous line of attack. He revived the memory among the British people of the early voyages to discover a way to the riches of the East, and appealed to the English imagination by picturing the interior of the North American Continent, with its vast meadows, splendid cascades, rich fur-bearing animals, and numberless races of Indians, picturesquely dressed, as opening up a field, if they could be reached, of lucrative trade to the London merchants. To further his purpose he pointed out the sluggish character of the Hudson's Bay Company, and clinched his arguments by quoting the paragraph in the Charter which stated that the great privileges conferred by generous Charles II. were bestowed in consideration of their object having been "The Discovery of a New Passage into the South Sea." Dobbs appealed to the sacrifices made and the glories achieved in earlier days in the attempt to discover the North-West Passage. In scores of pages, the indefatigable writer gives the accounts of the early voyages.