Since 1670 the Hudson's Bay Company (HBC) had held an exclusive trade monopoly over all lands where water drained into Hudson Bay. In 1870 the Dominion of Canada gained control over this vast territory (and consecutively renamed it the North-West Territories) for the price of 300,000 Pounds.
Morton, Arthur S. "Copy of draft surrender of Rupert's Land to the Queen, to be transferred for union with the Dominion of Canada." Enclosure in Earl Granville's despatches, no. 109. 12 June 1869. Morton, Arthur S. "Copy of the Order-in-Council dated 23 June 1870, at Windsor Court, authorizing the transfer of Rupert's Land and the North West Territories by the Hudson's Bay Company to the Queen to be united with the Dominion of Canada." 23 June 1870.