USA HISTORY

Detailed explanation-1: -The main cause of the rising beaver pelt prices in England and France was the increasing demand for beaver hats, which included hats made exclusively with beaver wool and referred to as “beaver hats, ” and those hats containing a combination of beaver and a lower cost wool, such as rabbit.

Detailed explanation-2: -"Beaver fur was at one time extensively used in the manufacture of hats but has become so rare and valuable that it is now chiefly used for muffs, collars, and trimming.

Detailed explanation-3: -In the past, pelts were so important they were used as a trade medium in place of money. Between 1853 and 1877, the Hudson Bay Company sold almost three million beaver pelts to England. In Alaska today, trappers still harvest these furs. They are highly prized for cold weather coats and hats.

Detailed explanation-4: -Beavers played an important role in this fur trade due to the high value of their pelts. Beaver pelts were the first great trade commodity in America. Many fur companies established themselves in the Northeast as the revenue from beaver pelts fueled the economy.