The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-17
Pureh Sc or he Hudson nay comPany's Tur-


chase Of the rights and possessions of the Hud-
son Bay Company on the northwest coast OF the
continent. These rights and possessions are
exercised and held within the Territory Of Ore
gon, o large portion of which formerly be-
longed to the old Pacific Fur Company. This
was the company which was to open up the Pc
cifc slope, and earn such colossal fortunes for
Astor and his associates, but which, on the
breaking out Of the war in 1872 lady embrac-
ed the opportunity of dying, nd selling its
real estate and rights to the famous North
west Company. The NOr'westers, as every one
knows, did poor business, and wasted their
profits in ceaseless wars with their rivals and
the Indians, until the fearful massacre at Red
River virtually put an end to their existence.
Somewhere about the year 1921 they sold out
to the Hudson Bay Company, which thus be-
came sole possessOr Of the fur country OF the
north and west. At later period, this asso-
citation gave birth to another, called the Puget
Sound Company, whose special business it was
to farm, and not to hunt.
When the Oregon treaty was concluded spe-
cial reservations we're made in favor Of the
Hudson Bay Company, and its hunters.
They were confirmed in their Uxim to navi-
gate the Columbia river, and all the rivers
flowing into it from the point at which the
forty ninth parallel crosses the same; and their
possessory rights in the territory south Of the
forty-ninth parallel were pronounced safe
from molestaton. Thus it came about that
the actual sovereignty Of that country was in
British subjects, while the nominal sovereignty
appertaiDed to the United States The expe-
rience Of the Oregon dispute alone taught both
parties the danger and inconvenience of an ar
rangement of this nature, nor were their anti
cipations long unrealized. Before the treaty
had been in force half dozen years, conflicts
arose on it's interpretation-the Hudson Bay
Company claiming more than the United
States were willing to allow, and the latter on
their side narrowing their occupation of the
term "possessory rights" within smaller limits
than the western hunters chose to recognise. 1t
was clear as long ago as 1849, that unless
measures were taken to avert future trouble,
The peace of the two nations might be disturbed
by the consequences Of the anomalous position
Of the Hudson Bay Company in Oregon.
A negotiation was accordingly set on foot
by Sir George Simpson, the Governor Of the
Hudson Bay Company, in order to sell the
rights of the company to the United States.
In 1852, he valued the buildings and trade of the
Hudson Bay Company in Oregon, at 81, $3.50, 900,
exclusive of the joint right to navigate the Co
lumbia. The chief items which went to make
up this sum were Fort Vancouver, at the head
of ship navigation on the Columbia, which,
with it's dependent mills and farms, was valued
at half million Of dollars. Smaller forts
and farms-Forts Champooick, Disappoint-
ment, Umpqua, Nez Perc6s, Colville, the
Camelitz Farm, the Nisqually settlement, &c.
were set down at various sums from $4,000
to $4,000. The cattle ranges throughout the
country on which the company was used to
pasture its fiocks and herds previous to the
treaty, we're valued in round terms at half a
million; and the good will Of the business,
including the trade with the Indians, was set
down at million of dollars.
All this Sir George offered to sell for one
million-less than one half the stated valua-
ton. We presume the offer is still open to the
acceptance of the government.
1t should be accepted without hesitation.
Considered in financial light the sum asked
is small. The cost of the buildings alone, at
the seventeen forts and farms occupied by the
Hudson Bay Company, was $450,000; at least
Sir George Simpson says so, and there cannot
be much exaggeration. In 1S49, the trade at
Fort Vancouver yielded a net profit Of $50, 600,
which is alone more than the interest Of a mil
md tlo fvtr o( karr lou fha
Mexican frontier was worth ten millions, the
exclusive navigation Of the Columbia and the
undivided possession Of Oregon are surely
worth one.
But these are peddling reasons The United
States should hasten to acquire the rights aud
possessions of the Hudson Bay Company, be-
cause in a few years the possession of the
mouth Of the Columbia, and the command OF
the whole southern country, may be tanta-
mount to the control of the Northern Pacific.
Fort Vancouver is destined to be the New YORK
of Oregon. A mere trading post at present.
where settlement is not encouraged by the
company, it is hardly known: but let it pass
under the United States flag, and ten years
will not elapse before healthy efforts are made
to build great town there. As was remarked
before, the river is navigable for ships of large
burthen up to the fort; very little expense
would build wharves at which they might dis
charge cargo within a stones throw Of the
dwelling houses. The back country is O rich
prairie, with well wooded patches, and plenti-
fully intersected by streams. The climate is
excellent: men live to q prodigious age there
1t is certain that were it thrown open to set
tiers, an influx of immigration would flow
thither, and the fame and wealth of San Fran
cisco might soon be ecll.ed. We hope, there
fore, that nothing will stand in the way Of
speedy purchase Of the property.
Mr.. BrcHANAN's DETENTION IN ESGLAND.-The
following is an extract of letter from Mr..
Buchanan, dated Nov. 1G 1855, and received