, Canada
1670 - The Hudson's Bay Company is founded by royal charter and, underwritten by a group of English merchants, is granted trade rights over Rupert's Land -- i.e., all territory draining into Hudson Bay (May 2).

On May 2, 1670, the Hudson’s Bay Company (HBC) was founded by royal charter, marking the beginning of one of the most enduring and influential commercial enterprises in North American history. The company was underwritten by a consortium of English merchants and granted exclusive trading rights over Rupert’s Land, a vast territory encompassing all lands whose rivers drained into Hudson Bay—effectively covering much of what is now central and northern Canada.

The Hudson’s Bay Company was established primarily to exploit the rich fur resources of the region, particularly beaver pelts, which were in high demand in Europe for hat-making and other fashions. The royal charter gave the HBC monopoly privileges, allowing it to trade directly with Indigenous nations and to establish trading posts across the sprawling and often remote territory. These posts became centers not only of commerce but also of European settlement, exploration, and cultural exchange, fostering alliances and, at times, conflicts with Indigenous peoples.

The founding of the Hudson’s Bay Company had long-term economic, social, and geopolitical consequences. It helped define the pattern of European settlement in northern North America, spurred exploration of vast inland regions, and became a cornerstone of the fur trade economy. Moreover, the company’s operations established enduring frameworks of trade, diplomacy, and territorial governance, which influenced colonial and later Canadian policy for centuries. The HBC remains a symbol of early commercial enterprise and the intertwined histories of European settlers and Indigenous nations in shaping the continent.

fccs.ok.ubc.ca/ about/ links/ resources/ canadian-history/ prehistory-to-1800.html

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