North American fur trade

The North American fur trade was the industry and activities related to the acquisition, trade, exchange, and sale of animal furs in North America. Aboriginal peoples in Canada and Native Americans in the United States of different regions traded among themselves in the Pre-Columbian Era, but Europeans participated in the trade beginning from the time of their arrival in the New World and extended its reach to Europe. The French started trading in the 16th century, the English established trading posts on Hudson Bay in present-day Canada in the 17th century, and the Dutch had trade by the same time in New Netherland. The 19th-century North American fur trade, when the industry was at its peak of economic importance, involved the development of elaborate trade networks and companies.

The fur trade became one of the main economic ventures in North America attracting competition among the French, British, Dutch, Spanish, and Russians. Indeed, in the early history of the United States, capitalizing on this trade, and removing the British stranglehold over it, was seen as a major economic objective. Many Native American societies across the continent came to depend on the fur trade as their primary source of income. By the mid-1800s, however, changing fashions in Europe brought about a collapse in fur prices. The American Fur Company and some other companies failed. Many Native communities were plunged into long-term poverty and consequently lost much of the political influence they once had.

French explorer Jacques Cartier in his three voyages into the Gulf of St. Lawrence in the 1530s and 1540s conducted some of the earliest fur trading between European and First Nations peoples associated with sixteenth century and later explorations in North America. Cartier attempted limited fur trading with the First Nations in the Gulf of St. Lawrence and along the St. Lawrence River. He concentrated on trading for furs used as trimming and adornment. He overlooked the fur that would become the driving force of the fur trade in the north, the beaver pelt, which would become fashionable in Europe.

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