appears to be determined chiefly by the number of colonists and the needs of the colony. The beaver hastened, if it did not bring, the settlement of the country. Hunters and trappers blazed the trails, described the natural resources, and lured the permanent settlers to possess the land and build homes among the ruins left by the beaver. Early in the fur industry companies were formed, the Hudson's Bay Company becoming the most influential and best known. Its charter was granted by Charles II of England on the 2d day of May, 1669. This company finally developed into one of the greatest commercial enterprises that America has ever known. The skin of the beaver furnished more than half its revenue. There are many features in the history of this company that have never been surpassed in any land. For more than two hundred years it held absolute sway over a country larger than Europe, and for the first one hundred and fifty years of its existence it was the government of the territory where it ruled, and thus determined the social and other standards of life within that territory. One of the early officials of this company declared that they were on the ground ahead of the missionaries, and said that the initials "H. B. C." on the banner of the company might well be interpreted as "Here before Christ." Kingsford's History of Canada says that in the eighteenth century, Canada exported a moderate quantity of timber, wheat, the herb called ginseng, and a few other commodities, but from first to last she lived chiefly on beaver skins. Horace T. Martin, formerly Secretary of Agriculture for Canada, calls the beaver's part in Canadian development "a subject which has from the inception of civilization been associated with the industrial and commercial development, and indirectly with the social life, the romance, and to a considerable extent with the wars of Canada." The American Fur Company and the Northwestern Fur Company were two large fur-gathering enterprises whose trappers ranged afar and who left their mark in the history and the development of the Northwest. The colossal Astor fortune really had its beginning in the wealth which John Jacob Astor amassed chiefly through the gathering and the sale of beaver skins. Beaver skins are now economically unimportant in commerce, but their value has already led to the establishment of a few beaver farms.