In Canada, billionaire David Thomson has his sights on adding the historic Hudson’s Bay charter to his collection. This charter was first granted by then King Charles II back in 1670. This charter gave Hudson’s Bay rights to a vast expanse of land that encompasses much of Canada and granted significant power over trade and relations with Indigenous peoples for centuries. Thomson’s holding company still intends to purchase the charter for a minimum of $15 million. Once purchased, they will be donating it to the Archives of Manitoba.
One of the oldest corporations in North America — Hudson’s Bay Company — is leading the charge. It has recently made headlines with its plans to seek court approval for the sale of an important, one-of-a-kind historical document. As part of the deal, the charter will be sold to her for a bargain price of $12.5 million. Directors of a holding company owned by the Weston family say they plan to donate it to the Canadian Museum of History.
Thomson’s bid presents a competitive alternative. If the court ultimately approves this sale, Thomson is willing to bid even more than his initial offer. This new move wouldn’t increase their accountability. It would fundamentally reshape the charter’s future. It addresses artistic preservation in an active, performance-based archival environment rather than a museum.
Next month, the as-yet-unpublished team will ask a court for approval. This is an exciting and critical step to decide the charter’s fate. The historic importance of the Hudson’s Bay charter should not be minimized. This consistent treaty use has profoundly guided trade practices and Canada-Indigenous relations for more than three centuries.
The Hudson’s Bay Department store, previously known just as “The Bay” has undergone some major changes in the last year. Yet, ironically, even so, its legacy still very much attaches to that charters that laid its foundation. As Thomson goes after this acquisition, it dives deeper than just dollars and cents. This action underscores Canada’s long history of wealth and power and the need to protect such documents for future generations.
