They were not erased by the modern hunter, but by farmers who didn't want them eating their sheep and, in many cases, by professional wolf-killers hired by states. The renowned conservation writer Aldo Leopold's earliest work was killing bears, wolves, and mountain lions for the forest service.
Unfortunately it wasn't until we'd nearly erased wolves and grizzlies (cougars have always been too wily to be wiped out) that we decided it was actually good to keep them around. Now we've got them back--but being back, they will need to be managed, and that includes hunting. Not wanton extermination, but rather a season tailored to remove a specific number of wolves in order to reach what the state fish & wildlife department considers appropriate.