This epic drama chronicles the foundation of the Canadian institution: the Hudson's Bay Trading Company. Set in the 17th century, the story centers on entrepreneurial fur trapper Radisson (Paul Muni), and his sidekick (Laird Cregar) who dream of establishing a major trading post in the Canadian wilderness. They get their opportunity when they befriend an exiled British aristocrat (John Sutton) who helps them convince King Charles (Vincent Price) that the proposed post would be a lucrative enterprise. The company is going great guns until the aristocrat's brother-in-law (Morton Lowry) kills a local native forcing Radisson to put him to death. The nobleman is outraged and as soon as the three return to England has them imprisoned until an appeal to the King's greed allows them return to Canada.

As King Charles, Vincent has some right royal fun as the effected, ineffectual soverign who seems to love fine clothes, dainty maidens and fluffy cocker spaniels more than running his country. Precious.