These men made Caughna Wauga, opposite
Lachine, their home, and there were their families.
After the most careful study and discussion of the questions above
alluded to, and others, the discussion extending over a month, we
agreed to various memoranda. The one affecting the re-organization of
management was as follows:--
"The first measure necessary towards the re-organization of the
Hudson's Bay service, will be the abolition, or modification of the
deed poll, under which the fur trade is at present carried on. The
difficulty involved in this proceeding is, an interference in the
vested rights of the wintering partners (chief factors and chief
traders). That might be overcome by some equitable scheme for the
extinction of those rights, which would serve the double purpose of
rendering practicable a reorganization of the service, and a reduction
in the number of superior officers, at present too large. This
reduction would give the opportunity of dispensing with such men as are
inefficient, and of retaining those only likely to be useful. The
Company are under no covenants in reference to the clerks.
"The arrangements of the deed poll are, in outline, as follows:--The
profits of the fur trade (less the interest charge, which goes
exclusively to the stockholders) are divided into one hundred parts; of
those, sixty are appropriated to the stockholders, and forty to the
wintering partners.
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