this post was submitted on 09 Aug 2024
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Except that they were literally given a monopoly and funding by the British monarchy:
They had some prominent backers as the article explains, but regardless of that the fact remains that HBC was created by a state with the clear goal to establish a another client state through it (hence the monopoly rights). Britain's rivalries with France probably also played a role as France was the dominant colonial power in that area at the time.