Monopoly in the West: 1821-1870 Social Studies 7 The Fur Trade Phase 5 Monopoly in the West: 1821-1870 Social Studies 7

Lesson on Monopoly How much will you pay??? Class activity. Would you pay the same if everyone had a cookie to sell and you were the only buyer? This is called a “Monopoly on Resource”

Monopoly on Resource First Case Second Case Teacher held monopoly because I held goods. This put teacher in control of the supply and price. Monopoly on resource was a monopoly on the cookie Second Case Student held the monopoly because you were the only buyer. The student is in control of what he/she will pay for the product, ultimately setting price.

Phase 5 & Monopoly??? This phase of the fur trade HBC exercised a monopoly. The HBC was the only customer for furs in the Fur Trade. When people brought furs, they needed to sell them. Since HBC was the only place buying them, they could offer whatever they wanted.

Highlights from this Phase The HBC and the NWC merged HBC begins to lose control of its monopoly Trade begins to decline in the west

HBC + NWC Competition between the two companies had turned ugly Shootings, fighting, hostage taking amongst other things was occurring Britain ended the conflict in 1821 by merging the company under one name, The Hudson's Bay Company

Losing a Monopoly HBC lost a court case against Independent Métis traders. Independent Métis traders, tired of the monopoly and stronghold of the HBC, began supplying pemmican and furs to Americans Britain became worried that the Americans might use this connection to gain control of Rupert’s Land

Trade Going Downhill Buffalo began to disappear Beaver became scarce European demand for furs declined 1869, Britain helped the HBC sell Rupert’s Land to Canada

Citizenship…who belongs? Read the two stories presented on pages 131 and 132. Answer the questions on the bottom of page 132 in the “Respond” box. Use the handout provided by your teacher to answer the questions.