What did the east india company do

what did the east india company do

British raj

The East India Company (EIC), also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Company or (after ) the British East India Company, and informally known as John Company, Company Bahadur, or simply The Company was an English and later British joint-stock company founded in It was formed to trade in the Indian . The Dutch East India Company, officially the United East India Company (Dutch: Vereenigde Oostindische Compagnie; VOC; Indonesian: Persatuan Perusahaan Hindia Timur), was a megacorporation founded by a government-directed consolidation of several rival Dutch trading companies (voorcompagnieen) in the early 17th dattiktok.com is believed to be the largest company to .

It is believed comlany be the largest company to ever have existed in recorded history. The company has been often labelled a trading company i.

However, the VOC was in fact an early-modern corporate model of vertically integrated global supply chain [2] [5] and a proto- conglomeratediversifying into multiple commercial and industrial activities such as ocmpany trade especially intra-Asian trade[1] [17] [18] [19] whar [21] shipbuilding, and both production and trade of East Indian spicescompzny Indonesian coffeeFormosan sugarcane sid, [3] [4] and South African wine.

Wherever Dutch capital went, urban features were developed, economic activities expanded, new industries established, new jobs created, trading companies operated, swamps drained, mines opened, forests exploited, canals constructed, mills turned, and ships were built. Fhe the early modern period, the Dutch were pioneering capitalists who raised the commercial whst industrial what breed is my cat of underdeveloped or undeveloped lands whose resources they exploited, whether for better or worse.

For example, the native economies of pre-VOC-era Taiwan and South Africa were virtually undeveloped or were in almost primitive states. In the early s, by widely issuing bonds and shares to the general public, [g] VOC became the world's first formally listed public company.

In many respects, modern-day corporations are wuat the 'direct descendants' of the VOC model. The company was historically an exemplary company-state [k] rather than a pure for-profit wgat.

Originally a government-backed military-commercial enterprise, the VOC was the wartime jndia of leading Dutch republican xompany Johan van Oldenbarnevelt and the States-General. From its inception inthe company was not only a commercial enterprise but also effectively an instrument of war in the young Dutch Republic's revolutionary global war against the powerful Spanish Empire and Iberian Union — Inthe company forcibly established a central position in thf Javanese city of Jayakarta, changing the name to Batavia modern-day Jakarta.

Over the next two centuries the company acquired additional ports as trading bases and safeguarded how to spell patients as in waiting interests by taking over surrounding territory. In the Golden Age of Netherlandish cartography c. Socio-economic changes in Europe, the shift in power balance, and less successful financial management resulted in a slow decline of the VOC between and After the financially disastrous Fourth Anglo-Dutch War —the company was nationalised in[59] whay finally dissolved on 31 December All assets were taken over by the government with VOC territories becoming Dutch government colonies.

The company's monogram logo consisted of a large capital 'V' with an O on the left and a C on the right half and was possibly the first globally recognised corporate logo. The first letter indi the hometown of the chamber conducting the operation was placed on top. The monogram, versatility, flexibility, clarity, simplicity, symmetry, timelessness, and symbolism are considered notable characteristics of the VOC's professionally designed logo.

Those elements ensured its success at a time when the concept of the how do you fix a wobbly toilet identity was virtually unknown. Before the Dutch RevoltAntwerp had played an important role as a distribution centre in northern Europe. Afterhowever, the Portuguese used an international syndicate of the Ibdia Fuggers and Welsersand Spanish and Italian firms, that used Hamburg as the northern staple port to distribute their goods, thereby cutting Dutch merchants out of vo trade.

At the same time, the Portuguese trade system was unable to increase supply to satisfy growing demand, in particular the demand for pepper. Demand for spices was relatively inelastic ; therefore, each lag in the supply of pepper caused a sharp wha in pepper prices. Inthe Portuguese crown was united in a personal union with the Spanish crown, with which the Undia Republic was at war. The Portuguese Empire therefore became an appropriate target for Invia military incursions.

These factors motivated Dutch merchants to enter hhe intercontinental spice trade themselves. Further, a number of Dutchmen like Jan Huyghen van Linschoten and Cornelis de Houtman obtained first hand knowledge of the "secret" Portuguese trade routes and practices, thereby providing opportunity. The stage was thus set for the four-ship exploratory expedition by Frederick de Houtman in to Bantenthe main pepper port of West Java, where they clashed with both the Portuguese and indigenous Javanese.

Houtman's expedition then sailed east along the north coast of Javalosing twelve crew members to a Javanese attack at Dir and killing a local ruler in Madura. Half the crew were lost before the expedition made it back to the Netherlands the following year, but with enough spices to make a considerable profit. Inan increasing number of fleets were sent out by competing merchant groups from around the Netherlands.

Some fleets were lost, but most were successful, with some voyages producing high profits. Indix Marcha fleet of eight ships under Jacob van Neck was the first Dutch fleet to reach the 'Spice Islands' of Maluku, the source of pepper, cutting out the Javanese middlemen. The ships returned to Europe in and and the expedition made a percent profit. Inthe Dutch joined forces with the Muslim Hituese on Ambon Island in an anti-Portuguese alliance, in return for which the Dutch were given the sole right to purchase spices from Hitu.

Inthe Dutch expelled the Portuguese from their Solor fort, but a subsequent Portuguese attack led to a second change of hands; tge this second reoccupation, the Dutch once again captured Solor in East of Solor, on the island of Timor, Dutch advances were halted by an autonomous and powerful group of Portuguese Eurasians called the Topasses.

They remained in control how to install brother scanner on mac the Sandalwood trade and their resistance lasted what did the east india company do the 17th and 18th centuries, causing Imdia Timor to remain under the Portuguese sphere of control.

At the time, it was customary for a company to be funded only for the duration of a single voyage and to be liquidated upon the return of the fleet. Investment in these expeditions was a very high-risk venture, not only because of the usual dangers of piracy, disease and shipwreck, but also because the interplay of inelastic demand and relatively elastic supply [70] of spices could make prices tumble, thereby ruining prospects of profitability.

To manage such risk, the forming of a cartel to control supply would seem logical. Inthe English were the first to adopt this approach by bundling their idd into a monopoly enterprise, the English East India Companythereby threatening their Dutch competitors with ruin. Inthe Dutch government followed suit, sponsoring the creation of a single "United East Indies Company" that was also granted monopoly over the Asian trade.

Wwhat a time in the seventeenth century, it was able to how to disable common pop up blockers the trade in nutmeg, mace, and cloves and to sell these spices across European kingdoms and emperor Akbar the Great's Mughal Empire at times the price it paid in Indonesia ; [72] while Dutch profits soared, the local economy of the Spice Islands was destroyed.

With a capital of 6, guilders[73] the new company's charter empowered it to build forts, maintain armies, and conclude treaties with Asian rulers. It provided for a venture that would continue for 21 years, with a financial accounting only at the end of each decade. In Tbethe company seized the Santa Catarinaa ton Portuguese merchant hteoff the coast of Singapore. Also inthe first permanent Dutch trading post in Indonesia was established in BantenWest Javaand inanother was established at Jayakarta later "Batavia" and then "Jakarta".

The Governor General effectively became the main administrator of inia VOC's activities in Asia, although the Heeren XVIIa body of 17 shareholders representing different chambers, continued to officially have overall control. VOC headquarters were located in Ambon during the tenures of the first three Governors General —but it was not a satisfactory location.

Although it was at the centre of the spice production areas, it was far from the Asian trade routes and other VOC areas of activity ranging from Africa to India to Japan. The Straits of Malacca how to answer multiple phone lines strategic but became dangerous following the Portuguese conquest, and the first permanent VOC settlement in Banten was controlled by a powerful local ruler and subject to stiff competition from Chinese and English traders.

Indiplomatic agreements in Europe ushered in a period of co-operation between the Dutch and the English over the spice trade. He saw the possibility of the VOC becoming an Asian power, both political and economic. On 30 MayCoen, comany by a force of nineteen ships, stormed Jayakarta, driving cid the Banten forces; and from the ashes established Batavia as the VOC headquarters.

In the s how to disable vista security 2012 the entire native population of the Banda Islands was driven away, starved eats death, or killed in an attempt to replace them with Eastt plantations.

Coen hoped to settle large numbers of Dutch colonists in the East Indies, but implementation of this policy never materialised, mainly because very few Dutch were willing to emigrate to Asia. Another of Coen's ventures was more successful. A major problem in the European trade with Asia at the time was that the Europeans could offer few goods that Asian consumers wanted, except silver and gold. European traders therefore had to pay for spices with the precious metals, which were in short supply in Europe, except for Spain and Portugal.

The Dutch and English had to obtain it by creating a trade surplus with other Invia countries. Coen discovered the obvious solution for the problem: to start an intra-Asiatic trade system, whose profits could be used to finance the spice trade with Whta.

In the long run this obviated the need for exports of precious metals from Europe, though at first it required the formation of a large trading-capital fund in the Indies. The VOC reinvested a large share of its how to become a brazilian waxer to this end in the period up to Silver and copper from Japan were used to trade what is the most fuel efficient truck on the market the world's wealthiest empires, Mughal India and Qing Chinafor silk, cotton, porcelain, and textiles.

These products were either traded within Asia for the coveted spices or brought back to Europe. The company supported Christian missionaries and traded modern technology with China and Japan. A more peaceful VOC trade post on Dejimaan artificial island off the coast of Nagasaki compwny, was for whag than two hundred years the only place where Europeans were permitted to trade with Japan.

Inthe VOC obtained the port of GalleCeylonfrom the Portuguese and broke the latter's monopoly of the cinnamon trade. InGerard Pietersz. Bythe Portuguese had been expelled from the coastal regions, which were then occupied by the VOC, securing for it the monopoly over cinnamon.

To prevent the Portuguese or the English from ever recapturing Sri Lanka, the VOC went on to whatt the entire Malabar Od from the Portuguese, almost entirely driving them from the west coast of India.

When news of a peace agreement between Portugal and the What is the most secure free email service reached Asia inGoa was the only remaining Portuguese city on the west coast. InJan van Riebeeck established a resupply outpost at the Cape of Storms the southwestern tip of Africa, now Cape TownSouth Africa to service company ships on their journey to and from East Asia.

The cape was later renamed Cape of Good Hope in honour of the outpost's presence. Although non-company ships were welcome to use the station, they were charged exorbitantly. This post later became a full-fledged colony, the Cape Colonywhen more Dutch and other Europeans started to settle there. Direct access to mainland China came in when a factory was established in Canton.

The treaty allowed the VOC to build a trading post in the area and eventually to monopolise the trade there, especially the gold trade. Many of the VOC employees inter-mixed with the indigenous peoples and expanded the ckmpany of Indos in pre-colonial history. Aroundtwo events caused the growth of VOC trade to stall. In the first place, the highly profitable trade with Japan started to decline. The loss of the outpost on Formosa to Koxinga in the Siege whta Fort Zeelandia and related internal turmoil in China where the Ming dynasty was being replaced with the Vo Qing dynasty brought an end to the silk trade after The shogunate enacted a number of measures to tue the export how to unlock your o2 sim card these precious metals, in the process limiting VOC opportunities for trade, and severely worsening the terms of trade.

This caused a spike in the price of pepper, which enticed the English East India Company EIC to enter this market aggressively in the years how to wash hockey goalie gloves Previously, one of the tenets of the Ddo pricing policy was to slightly over-supply the pepper market, so as to depress prices below the level where interlopers were encouraged to enter the market instead of striving for short-term profit maximisation.

The wisdom of such a policy commpany illustrated when a fierce price war with the EIC ensued, as that company flooded the market with new supplies from India.

Indeed, bythe latter came close to bankruptcy; its share price plummeted from to ; and its president Josiah Child was temporarily companny from office.

However, the writing was on the wall. The VOC therefore closed the theretofore flourishing open pepper emporium of Bantam by a treaty of with the Sultan. Also, on the Coromandel Coastit moved its chief stronghold from Pulicat to Negapatnamso as to secure a monopoly on ddo pepper trade to the detriment of the French and the Danes.

The military outlays that the VOC needed to make to enhance its monopoly were what airlines fly to santo domingo dominican republic justified by the increased profits of this declining trade.

Nevertheless, this lesson was slow to sink in and at first the VOC made the strategic decision to improve its military position on the Malabar Coast hoping thereby to curtail English influence in the area, and end the drain on its resources from the yhe of the Malabar garrisons by using dompany to compel the Zamorin of Calicut to submit to Dutch domination. For a brief time, this appeared to improve the company's prospects.

However, inwith EIC encouragement, the Zamorin renounced the treaty. Though a Dutch army managed to suppress this insurrection temporarily, the Zamorin continued to trade with the English and the French, which led to an appreciable upsurge in English and French traffic.

The VOC decided in that it was no longer worth the trouble to try to dominate the Malabar pepper and spice trade.

Background

Mar 04,  · The East India Company really was too big to fail. So it was that in it was saved by history’s first mega-bailout. But unlike Lehman Brothers, the East India Company really was too big to . The East India Trading Company, otherwise referred to as the East India Company or abbreviated as EITC, was a British joint-stock company and megacorporation formed for pursuing and monopolizing trade with the Indian subcontinent and East Indies, and later expanded to China and the dattiktok.com East India Company traded mainly in cotton, silk, indigo dye, salt, saltpetre, tea and opium. Growth and impact of the Dutch East India Company. Regardless of whether Europeans constituted the primary historical force in 17th-century Indonesia, their presence undoubtedly initiated changes that in the long run were to be of enormous importance. The VOC itself represented a new type of power in the region: it formed a single organization, traded across a vast area, possessed superior.

These are the core obsessions that drive our newsroom—defining topics of seismic importance to the global economy. Our emails are made to shine in your inbox, with something fresh every morning, afternoon, and weekend.

What he may not have realised then is that he had managed to provide not just very succinct and persuasive arguments against the empire but also quantify the scale of its ills. The speech, thus, evolved into Inglorious Empire , in which Tharoor dissects most of the arguments made by apologists for the empire with hard facts and deft writing.

The East India Company was created in to cash in on trading with India, which at the time accounted for more than a quarter of all the trade in the world. It soon realised, however, that its ambitions would be better served with a permanent presence in the country, and from then on the trade took off.

In some or so years, through a series of conquests and some clever politicking, the company created a rival empire on the subcontinent among the already warring ones such as the Maratha, Mughal, and Awadh regimes. Today, the argument goes that, had it not been for the British, those rival factions would not have coalesced into a single entity. This argument stands on two pillars. First, that the British created the idea of a political union called India.

Second, that they provided Indians the tools and institutions needed to hold the union together and run it. The first one falls when you consider history. Even in reality, under emperor Ashoka, about BCE, large parts of the subcontinent enjoyed cultural and administrative unity. In their entire year rule, they made up no more than 0. And, yet, for most of that period, no Indian was allowed to join the Indian Civil Service, in part because the British could not bear to take orders from a brown man.

When they were finally admitted, more direct racism was in store. High scorers in the civil service examinations were accused of cheating, for how else could brown men do so well. Under the British, Tharoor shows that, the Hindu caste system became more rigid, and communal lines, particularly those between Hindus and Muslims, deepened. Nowhere was the application of that singular ethos clearer than when, on their way out, the colonialists partitioned the subcontinent into India and Pakistan.

A democracy cannot function without a free press and just law. Neither truly existed under the Raj. The British were the first to establish newspapers in India, catering to a small English-educated elite first, and large audiences in the vernacular languages later. However, alarmed by their proliferation, the East Indian Company passed the Censorship of the Press Act in , subjecting all newspapers to scrutiny before publication.

In , all other kinds of publication, too, were brought under this rule. Once bitten by the bug and with strict adherence to the law not being insisted on over time, Indians continued with the enterprise. By , there were some newspapers in the subcontinent, mostly owned and edited by Indians. Alarm bells rang again, bringing another round of censorship in the form of the Vernacular Press Act of and the revised Press Act of Under the latter, publishers were required to provide a hefty security deposit, which they would forfeit if the publication carried inflammatory or abusive articles.

The racism of the British-owned press was not subject to the same restrictions. The justice system in India was even more discriminatory. For instance, an Englishman who shot dead his Indian servant got six months in jail and a modest fine. But an Indian convicted of the attempted rape of an Englishwoman was sentenced to 20 years.

Worse still, the legacy of the British legal system has left India with an unenviable judicial backlog. There are still cases pending that were filed during the days of the Raj.

Indeed, if a pluralist democracy were a British legacy, how is it that neither Pakistan nor Bangladesh have pulled off a similar feat? Few kings ever rule to benefit their people. And, yet, what the British did to India was decidedly worse.

How can we be sure that the British were to blame for those hunger deaths? Worse still, the British notion at the time was that governmental interference to prevent a famine was a bad idea. On one route, between Kolkata to Trinidad, the proportion of deaths of indentured labourers on ships reached appalling levels: If you were to believe official figures, the British troops fired 1, bullets at innocent civilians, killing and wounding 1, Those who were killed had no idea that suddenly their gathering was suddenly deemed illegal and they received no warning to disperse.

The British built the railways primarily for themselves, using their own technology and forcing Indians to buy British equipment. Each mile of the Indian railway constructed cost nine times as much as the same in the US, and twice that in difficult and less populated Canada and Australia.

The bills were footed by Indian taxpayers and British investors received a guaranteed return on their capital. Freight charges were dirt cheap, and Indians who traveled 3rd class paid for expensive tickets. The British desire to end their dependence on Chinese tea prompted them to set up plantations in India.

Following many failed attempts, they managed to find a local version that worked. For this, the British felled vast forests, stripped the tribals who lived there of their rights, and then paid Indian labourers poorly to cultivate the cleared areas. Once the tea was ready, it was shipped off to Britain or sold internationally. The little bit left in India was too expensive, until the Great Depression when weak global demand finally let Indians enjoy the delights of the drink.

English language. The British made it absolutely clear that it was only taught to serve their own purpose. Worse still, there has been no formal apology for what the empire wreaked on its subjects. Instead, there is rising nostalgia for the empire as nationalism surges in a country that is now three ranks below India in the size of its economy. By providing your email, you agree to the Quartz Privacy Policy.

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