How lucrative was the beaver pelt trade?

by Herge

How much money did the beaver pelt trade make? I always learnt in my history classes that the backbone of the economy of New France was the beaver pelt trade, and I was told it was to make hats. But that could not compare to tobacco, gold, cotton, rum and other goods the rest of the colonies in the New World relied on, could it?

elyon61

Short answer: So much.

The fur trade was the main industry in the Great Lakes region of the US and Northwestern Canada until the mid-to-late 19th century, and probably later. The British and French governments were heavily involved, and military forts were frequently less military posts and more centers for the fur trade. Of course, most of the wealth went straight to the company owners based in France or England, or later in Montreal or Detroit.

I don't know how the fur trade compared to trade in tobacco or other goods, but I do know that it was not uncommon to get very wealthy off of it. Anecdotal example, but the reason I'm so interested in the fur trade is my great-grandpa owned a small fur trade company around 1850-1900s, and became one of the wealthiest men in my state because of it. His company was nothing compared to Hudson Bay or Northwest Company, the main competitors in the Canadian fur trade.

I'm an archaeologist, so I know less about publications on the historical side, but if you want to know more I would definitely suggest any publications by my friend Heinz Pyzczysk, who works exclusively on the Albertan fur trade.