English company of the Eastern Indies
The December 31st 1600, the queen Elisabeth I {{Re}} of England grants a royal Charte conferring for 21 years the monopoly of the trade in the Indian Ocean on the English Compagnie of the Eastern Indies (British East India Company).
First of the European companies created at the 17th century to conquer " Indes" and to dominate commercial flows with Asia, it finds its place vis-a-vis the Compagnie Dutchwoman of the Eastern Indies, VOC celebrates it, and takes the advantage on the French Compagnie of the Eastern Indies which it leads to the ruin by conquering all her possessions in India. It marks the future British Empire deeply.
Public limit company, it was going to become the most powerful business enterprise of its time, until acquiring military and administrative functions kingly in the administration of the immense Indian territory. Run up full whip by the economic and political evolution of the 19th century, it declines gradually then disappears in 1874.
From its general headquarters of London, its extraordinary influence extended to all the Continent S: it governed the creation of the British India, the Raj, founded HongKong and Singapore, missionné the Capitaine Kidd to fight the Piraterie, installed the culture of the The in India, retained captive Napoleon with Sainte-Hélène, and was directly implied in famous the Boston Tea Party which was used as release with the war of independence of the United States.
Creation and development
First organization of the company
The very important profits of the Company on the first voyages in India pushed the king Jacques Ier to grant licenses to other commercial companies in England. But, finally, in 1609 the charter of the Company is renewed: she sees herself granting the monopoly of the trade with the Indies Orientales for one indefinite period, but including a clause stipulating that it would cease if the businesses of the company became nonadvantageous three years of continuation.The company is equipped with a start-up capital of 72000 pounds sterling shared between 125 shareholders. The company is managed by a governor and 24 directors who form the Court of the Directors. They were named and were responsible in front of the Parliament for the owners.
The beginning of the operations in India
In 1612 finally, the ships belonging to the company accosted with Surat which was the first commercial counter. During two years following, it is also established on the Côte of Coromandel in the Bay of Bengal. it establishes its first manufacture with Surat.During its first years, it will have little success in the Commerce of the spices largely dominated by the Netherlands and durable outpost in the the Eastern Indies will not be able to establish.
In 1615, Sir Thomas Roe is sent by king Jacques 1st near the emperor moghol Jahangir. The goal of this mission was to obtain for the Company exclusiveness to establish counters in certain places like Surat. In exchange she proposed to offer to the emperor European products. A treaty was thus signed and the English could develop fortified towns with Surat, Bombay, Madras or Elihu Yale made fortune and Calcutta. In 1647 the Company has 23 counters and 90 employees in India.
Domination of India
In 1670 the king Charles II grants by decrees to the Company the right to acquire new territories, to strike currency, to order armed troops and to exert justice on its territories. It then will become a formidable machine of being able, in India but also in England. Wearied political lobbying and in order to decrease this influence the Parliament decides to break the monopoly of the Company and allows in 1698 the creation of a rival company, English Company Trading to the East Indies. However the latter will never manage to compete with “the old” Company and they will amalgamate in 1702.
In 1757, the victory of Robert Clive with the Bataille of Plassey on behalf of the Company during the Guerre Seven Year old puts a crushing argument at the French claims in India, ensures British supremacy on the Indian peninsula and offers to the Company control Bengal, the most populated province and most advantageous. Haloed its many military victories, and after a 5 years return in England, Clive is named governor of Bengal in 1765.
Power and decline
In 1773 the Parliament votes Regulating Act which imposes on the Company a series of economic reforms and administrative. It names Warren Hastings at the station of General governor of the British Indies created for the occasion. The Company is authorized to preserve the monopoly of the trade under certain conditions, in particular financial, which gradually will involve it on its decline. In 1784 a new law is voted in order to from now on clearly separate the governorship from the territories of the Indies Orientales (which returns to the Crown) and the marketing activity (which returns to the Company). The latter must thus from now on return accounts to the Crown what does not prevent it from continuing to develop. About the middle of the 19th century, the domination of the Company extends on the major part of India, the Burma, Singapore and HongKong, a fifth of the world population thus passing under its authority. The Company occupies the Filipino , makes the conquest of Java. It regulates its problem of liquidities to buy the The China by exporting there Indian Opium, the efforts of China to put an end to this trade involving both Guerres of opium with Great Britain.Deprived of its commercial monopoly in 1813 and of the trade of the of China twenty years later, the company will lose finally its administrative offices in 1858 following the Révolte of Cipayes. To the beginning of the year 1860 all the possessions of the Company pass under the control of the Crown. January 1st 1874 the Company of the Indies Orientales is dissolved by decree.
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