"In this table from Canadian Northwest Company archives, we get some idea of beaver value at the trading post. I take it that “made beaver” is the equivalent of the worn beaver described above. This from early 1800s.
Here are the values of many of the NWC trade goods in Made Beaver:
1MB = 3/4 pounds of coloured beads
1MB = 1 1/2 pounds of gun-powder
1MB = 1 brass kettle
1MB = 2 pounds of sugar
1MB = 1 gallon of brandy
1MB = 2 yards of flannel
1MB = 12 dozen buttons
1MB = 1 pair of breeches
1MB = 1 pair of shoes
1MB = 20 flints
1MB = 8 knives
1MB = 2 pair looking glasses
1MB = 2 hatchets
1MB = 20 fish hooks
1MB = 1 blanket
4 MB = 1 pistol
1MB = 2 shirts
11 MB = 1 musket
But how much did this really represent in terms of trade and money—of that day and translated into our day? There is much information on the particulars of the trade, but it is hard to come up with information on just how big it all was in that 200-year period. I found in one place that the “demand” in England alone was for 5 million felted hats each year. And this rough equation from a modern-day interpreter at Fort Vancouver: “Long story short, the $2 value of a beaver pelt of 1837 would be something like $48 today. And the $7.50 that HBC might have received in London works out to about $176 in today’s money.”
Great info., and nice research. But in 1837 two dollars would by about 3 ounces of silver (of course with silver and gold money. calculations are approximate). So you are probably talking around 150 to 170 dollars today. As to the monetary value of beaver pelts from then to now...I am not that smart!
TY, and yeah I gotta concur. It's all approximation. Still though, I'm down with barter and trade. I'll gladly give you a fish today for a burger on Tuesday.
Beaver Sauce! <---- Beaver data hyperlink!
Here are the values of many of the NWC trade goods in Made Beaver:
But how much did this really represent in terms of trade and money—of that day and translated into our day? There is much information on the particulars of the trade, but it is hard to come up with information on just how big it all was in that 200-year period. I found in one place that the “demand” in England alone was for 5 million felted hats each year. And this rough equation from a modern-day interpreter at Fort Vancouver: “Long story short, the $2 value of a beaver pelt of 1837 would be something like $48 today. And the $7.50 that HBC might have received in London works out to about $176 in today’s money.”
Now, let's get down to 1800's brass beaver tax!🦫
Great info., and nice research. But in 1837 two dollars would by about 3 ounces of silver (of course with silver and gold money. calculations are approximate). So you are probably talking around 150 to 170 dollars today. As to the monetary value of beaver pelts from then to now...I am not that smart!
TY, and yeah I gotta concur. It's all approximation. Still though, I'm down with barter and trade. I'll gladly give you a fish today for a burger on Tuesday.
That will make a good lunch! I will meet you at the picnic table!
Very cool bit of history! I just went down a rabbit hole about made beaver. Ive always been fascinated with that period of north American history.
3/4 lbs of colored beads?!?! Why that could buy you a pretty nice island in New York City!