The Deed Poll In Existence In 1863 Provided That The Profits Of
The Fur Trade (Less Interest On Capital Employed
In the trade, which
belonged to the stockholders who provided it) were to be divided into
100 parts, of which
60 parts belonged to the stockholders, and 40 to
the "wintering partners." The "wintering partners" were the "chief
factors" and the "chief traders." These 40 parts were again subdivided
into 85 shares; and each "chief factor" was entitled to two of such
shares, and each "chief trader" to one share. The clerks were paid by
salary, and only a person who had served as a clerk could be promoted
to a "chief tradership," and only a "chief trader" to a "chief
factorship." Thus all had a direct or remote partnership interest. On
retirement, an officer held his full interest for one year and half his
interest for the succeeding six years.
I had much apprehension that if the unexpected sale and transfer of the
share property, under terms and conditions in every sense unique, were
not frankly and explicitly explained, and under authority, alarm and
misconception would arise; while the news of the transfer would find
its way to distant regions in a distorted fashion, and through
unfriendly sources, long before the explanation and answer could
arrive. My fear, owing to bad management in London, was somewhat
realized, and I found that I had not rushed across the Atlantic, to
perform every service in my power to the undertaking, in June, 1863,
one moment too soon.
Then, having studied the "deed poll," I felt that, unless we made the
factors and traders partners in the whole enterprise - fur trade,
banking, telegraphs, lands, navigation of rivers - on generous terms, we
could not expect to elicit either their energies or their adhesion to a
new order of things.
Further, I saw no way to secure supervision and control over the
Fertile belt, and all around it, except by the construction, to begin
with, of a main line of telegraph from St. Paul to the Hudson's Bay
territory, and thence by Fort Garry to the extreme western post on the
east side of the Rocky Mountains. Such main line to be supplemented by
other subsidiary lines as rapidly as possible. The "wire," to my mind,
was the best "master's eye" under the circumstances. But, apart from
business re-organization, it was most essential to explain everything
to the Government of Canada; and to ascertain the views of political
parties, and of industrial interests, as, also, of religious bodies, as
to future government. In dealing with these questions, I had to assume
an authority which was to have been confided to a delegation, to
consist of Captain Henry Glyn, Colonel Synge, and myself.
On leaving England promptly - the main work being done - Mr. Richard
Potter undertook for me all the details which, if at home, I should
have managed, and he especially took up the discussions at the Colonial
Office, which I had personally carried on, with the Duke, for the
previous period.
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