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4 would promise them a waterway connection between the Atlantic and the Pacific oceans. Not until Captain Cook, engaged in the more careful exploration of the coast in 1778, do we catch glimpses of any real appreciation of the resources of the country itself. Among many interesting geographical discoveries, he made observations which were to be of greatest importance in the development of the Northwest. The abundance of the fur bearing sea animals along the coast and the islands attracted his attention, as well as that of his crew. The fine furs brought from the interior by the Indians were an indication of an equally valuable supply within the country. The natives preferred the gaudy beads and trinkets, and were willing to exchange the most valuable furs for things of little value. Cook and his crew had learned of the esteem in which the Chinese held the furs, and the human mind was not slow in projecting a business enterprise which would offer a handsome return.

The crew that served under Cook became more anxious to engage in the fur trade than to continue the exploration. Especially enthusiastic was one of their number, an American by nationality. John Ledyard was a native of Connecticut, but had joined the English exploring party because of his love of adventure. The profits to be derived from the fur trade of the Northwest had appealed to him with great force. He continued for two years after the return of Cook's expedition in the British naval service, then deserted from a man-of-war stationed in Long Island Sound. He went from one to another of the moneyed centers of the United States to interest men of capital in the enterprise. In New York he was coldly received, and his proposal was treated as