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Trade

Volume XII, Number 2 | spring 2019

Miscellany

When Arctic traveler Vilhjalmur Stefansson traded with the Inuit of Victoria Island in 1911, he found the metal of their knives to be of curious provenance: Inuit to the east had bought guns from the Hudson Bay Company and traded them westward; the firearms were then traded farther west, eventually reaching the Inuit he’d met—who, having no use for guns, had beat the metal barrels into knife blades.

The money market is to a commercial nation what the heart is to man.

—William Pitt, 1805

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