Even with Montreal's surrender to the British, they had no way of having a strong economy. The only way they could make money was through the fur trade, and for a short time this was not successful. To find a way to improve Montreal's revenues and economy, they decided to compete with the Hudson's Bay Company. The Hudson's Bay Company was a fur trading company founded and established in 1670 in England, but which migrated to Canada after the British defeated the French. A group of Scottish merchants created the North West Company, whose main goal was to gain control of the fur trade. In 1821, the Hudson's Bay Company decided to take over the North West Company and integrate it into Hudson's Bay.