Although their interest in exploration had died, the French continued to fish along the Grand Banks of Newfoundland, occasionally trading with the Native Americans for furs. When new tanning processes were developed in Europe, a new market for furs arose—beaver hats were in demand. France saw this fur trade as a profitable way to take advantage of their New World claims. As the fur trade grew increasingly important, the French king realized it must be protected. French settlers were needed to hold the land France claimed. Able leaders were promised an official monopoly of the fur trade in exchange for establishing colonies. Many settlements were attempted, but to France's dismay, they continually failed.
