hundred pounds. From this small beginning, the profits were so great that, notwithstanding the loss of two hundred thousand pounds from the French wars during the latter part of the century, the Company declared dividends of from twenty-five to fifty per cent.
The field of operations was gradually extended from the south-eastern regions contiguous to Hudson's Bay until it embraced the vast and dreary expanses of snowy prairie traversed by the Saskatchewan, the Athabasca, the Peace, and finally the Mackenzie. Many of the greatest expeditions by land under British auspices which resulted in great geographical discoveries were primarily designed for the expansion of the fur-trade.
Just at the critical moment, both for the great Canadian Fur Company, as well as for discovery and acquisition in the region of the Columbia, a most important and remarkable champion entered the lists. This was the North-west Fur Company of Montreal. It was one of the legitimate consequences of the treaty of Paris in 1763, ceding Canada to Great Britain. The French in Canada became British subjects by that treaty, and many of them had extensive interests as well as experience in the fur business. Furthermore a number of Scotchmen of great enterprise and intelligence betook themselves to Canada, eager to partake of the boundless opportunities offered by the new shuffle of the cards. These Scotchmen and Frenchmen became natural partners in the foundation of enterprises independent of the Hudson's Bay monopoly. In 1783 a group of the boldest and most energetic of these active spirits, of whom the leaders were McGillivray, McTavish, Benjamin and Joseph Fro-
