Asleep by a Frozen Sea or a Financial Innovator? The Hudson’s Bay Company, 1714-63

'Asleep by a frozen sea' is a description of the early history of the Hudson's Bay Company (HBC) that has persisted since the mid-eighteenth century. The management of the company prior to the Seven Years War (1756-63) has received decidedly mixed reviews. In particular, the company h...

Full description

Saved in:
Bibliographic Details
Published inCanadian journal of history Vol. 49; no. 2; pp. 179 - 202
Main Author Wagner, Mike
Format Journal Article
LanguageEnglish
Published Saskatoon University of Toronto Press 22.09.2014
Subjects
Cash flow
Competition
Department stores
French language
Furs
Historians
History
Market shares
Native peoples
Petitions
Spanish
War
Canada
United Kingdom > UK
North America
Online AccessGet full text

Cover

More Information
Summary:'Asleep by a frozen sea' is a description of the early history of the Hudson's Bay Company (HBC) that has persisted since the mid-eighteenth century. The management of the company prior to the Seven Years War (1756-63) has received decidedly mixed reviews. In particular, the company has been criticized for a lack of initiative in North America relative to its French rivals. This article re-assesses the operations of the company from the perspective of its British managers. It examines what they sought to achieve as well as how they generated revenues, controlled costs and managed their cash flow. This analysis reveals that, far from being 'driven to the wall' by its French competitors, the HBC, through careful control of costs and an innovative approach to financial management, protected the interests of its shareholders while ensuring considerable operational flexibility in North America.
ISSN:0008-4107
2292-8502
DOI:10.3138/cjh.49.2.179