The employees, higher and lower, became intoxicated with their success, as they now also became really intoxicated and fell into reckless habits.

The work was neglected, and the enterprize collapsed.
This was the earliest boom on Red River banks.

Failure was sure to follow so mad a scheme.

The buffalo wool cloth which it cost some twelve dollars and a half to manufacture, partly in Red River Settlement and partly in England, was sold for little more than one dollar a yard.

The L2,000 of capital was all swallowed up, L4,500 of debt to the Hudson's Bay Company was never paid, the scheme became a laughing stock in England, and failure and misery followed its collapse in the Colony.
At this time the French-Canadian settlement at Pembina was induced to remove to St.Boniface on the Red River, where they gathered around their new priest, Provencher, to whom they became much attached.
The Selkirk Trustees, in every way, continued ungrudgingly to advance the interests of the Colony, but their plans, though often mere theories failed more from extravagance and want of good men to execute them than from any other cause.
Believing that farming was the thing needing cultivation in a country with so rich a soil, the Colonizers began the Hayfield farm on the north bank of the Assiniboine River, near what is now the outskirts of the City of Winnipeg, a little above the present Agricultural College buildings.