Show EX editorials 1 T 0 RJ A LS THI BRITISH badt india INDIA COMPANY 6 As early aa ds lam 1553 in the reign of edward VI YI the engi Engl english sh endeavored to open commercial intercourse cou wi tit til india which previously had been monopolized by the ans uns ansy the turl turks Ks t alib ho d the tiie dutch nut but expeditions a dit Uit lons ions sent overland failed failed through lack laek of the country futile attempts to meach reach india werm were next made north w west est seas seal and in 1581 the english turkish company vainly mainly endeavor ed to reach ther there e ov briand the pope rope as chief of christendom had to tilo tile portuguese the exl exclusive right to pass pasy around the tho cap of good hope the d beshe I 1 f for 0 the wealth of the indies th the ete ese arbitrary f closing of the portuguese markets markels against the british and arid the jhb dutch and band the impossibility of goina going norten northward urd to india caused uhe the british merchants ta to disregard rd jhb popes bull huli and to proceed proc eer eor to india by the forbidden route in 1582 the first englishman English nyan nian captain Step stephens heits sailed to india by che the good hope sir air arancis drake and thomas thomasr cavendish followed round cape horni horri the tile latter in 1586 with a small squad squadron roil roii at his own expense he explored all ail the indian ocean oceail as s far fat as a s the philippines Phillp pines pinea iligin inglin 1588 1598 in 1593 i harracks car racks laden with riches of the indies with ch charts arti and other I 1 important M documents fell fen into the hands of tile the english this fa facilitated cill cili the formation of a company compan of london merchant in 1599 wuk with a capital of and the last bsh day of the next year tile the company received reee roee ived a charter for fifteen years from queen elizabeth under winder the th title titie of the Gove morand company of merchants of london trading with va tk the east ind indies im the tha the tho eliar cliar ter tee gh granted anted tile the exclusive right of trading to fo all countries from the cape of good hope eastward to the straits of lf magellan gellan except those possessed by men friendly ly european po powers iVers thomas smythe esq was theil the first governor assisted four doctors directors named in the charter they were empowered to aa elect a governor directors and other office bearers to make laws for their government to inflict punishments corporeal or pecuniary upon those in their employ such punishment to be with id iri tile laws lawa of great britain to ta export all glodi duty free for fo four yearb years to export foreign coins as bullion to the amount of a year of the same same beings previously repol re coined ned in the mint providing that thit the company mel mil must stirn import within seix selx months from the conclusion of every voyage after arter the first an amount of specie lo 10 e quai equal to that before ek ported exported char ter might be cancelled after two years 1 notice if found to be I 1 nimi cai cal to tile th public advantage the first expedition alfed aided sailed aI hed fed from brohl in 1601 in minand command co of captain lancaster it consisted of five ships of from froin ISO to goo tons tong cargo of bullion iron tin un broad cutlery f glass etc bic and ship sand cargo carl earl w were pidu vidu valued dat at 69 the next sear year it arrived at achenn lancaster maden madea treaty with the kings of achenn a nad fad binkem and returned to the downs in 1603 with a cargo of or cepter pepper and other produce aiso also alcoa a ric illy I 1 aden portuguese af tons tong which a dutch Aves vessel dl helped him hini I 1 to talce take expeditions 10 of sim similar liar ilat size and value TI were V 0 ventured for several years yeam the P profits ronn ts for the first eight years I 1 were per percent colit but a voyage atea lasted from two and a half to four years long iong er edits credits w were e given v n or eight el ht yeara yarsie elapsed lapse nto filom 0 t tho the h beginning b 1 gl n of a voyage until its accounts were settled in 1607 captain hawkins was sent gent to endeavor to establish commercial intercourse with the great blog mogul til but failed owing to portuguese ua intrigue in 1612 important privileges were obtained by captain C tain beale from tho iho the eburt of dela delu delhi deihl one being to establish a factory at it surat which bWy cly oly at once onee onby became the chief british station tation in india until that at bombay was wag established established these ithee factories were depots fot for goods fortified for the protection i of the lives ilves and property pr of resident tives bof of the tho company m pany and invariably nirl nihl proved to be entering we wedges adges for territorial aggrandizement by europeans in 1613 the tho capital of the company was united the largest stockholders assumed the management and vind in flou yeam the ilia of lot jhb Corn Company pany 1 became ko that tiie the shares miar olar doke in valus pai per tenta cent cont and land tended to java tava i slim it the banda islands islands ce celebes I 1 a be 9 malacca Sla sia inthe ithe nd la labar inbar bar edmu edlu coasts but chiefly do ya vor af ta matiy j attula the smaily Cm alir alim aily succeeded i eded in meu in in ll 11 ta new nw alock lock was vasi yasi opened ild iid subscribed serl seri bed bod aro from iii fil the of the company st t they had santi nine nibe afis to india jhel thel follow ing ang ng Is 9 recorded r thirty faur returned richly laden inden faur yora out ont in lii tta dla dia alq av by sl at sea ard and twelve by liy the tha jotch Jq toh at ohp dat dato date last mentioned the capital of india glaspe ec j y value luc lum of exports e to india ladia ZUO JWO 76 imports cost coat in 14 india 88 and andi sold in england for losses lossos by quarrels with th the burtch dutch kheir most energetic royals riyals iA kS complaints of abas abassi and llad bad management by ther eber company were made madg iu lin and adut mtr ring zing te thie reign of the stuarts there theto was murmuring muting muTiny ring and complaining against the monopoly in xam charlesi gaye gave loir coir to william courten and several ather persons the night right to trado trade with india in IM 1645 tho the natives kave kavo leave gave the company toj brud fortl forti st at madras cromwell in attempt attempted eid oid n to mavet maUet the East judia Audia tra defree derree dorree and in 1657 he renewed the Comp companas Com anys panya charter which charles U in 1661 the latter conferring upon th empower to make mahe peace dr or war with any power not mot of the christian religion toj fortifications garrisons and colonies boex to export ammunition and stores to settlements duty free to exercise ci civil viland and criminal tin their bottle bottie ments menta according to english lawand to seize aud arld and andr to england all uh Engli englishmen shwen found trad trading ingon jon ion their private the tho tea trader trade began in 1667 4 and soon became of vash vast anceto received the island dof 0 bombay as part pt 9 the marriage portions portio nf the princess catherine of portugal and arid he gra granted it to the kompany though they did not secure poss ross possession until nater after a ieng ing struggle jw tween the andi andl portuguese 14 residents i dents A factory was establish ed on the banks backs of the which formed the foundation of calcutta calcutti other fae fac factorize factories torie were soon after established Jd beli bell bengal gai gal thet the company received a renewal of its charter with indent nitifor past misuses nils hils utes and 81 sion aion an to esta establish blish blIgh a minu mint at bombay by report of the governor in 1601 the ther company had bad thiry of franr VM loi to W ngn tons mons trading be deg or lor coast coasts i ing in indis India and froni from england of stuffs ft amounted to from JC to cooki year about fisl company wera nygeria not in 1688 1683 num mum numerous erous freo free traders with india the validity of the buti id iri 1693 after a neavy struggle struggled iha tha charter was re renewed though the i next year a h vote vua of the house b bf f co commons ammona thre the india inui trade trado open to afner arner fo formesi rrb edi and a nd in 1698 conferring g privileges to num those enjoyed by old onos onon corf the 1 consideration if loan state stam tho wo two companies cz ies les amalgamated in lri 1702 under of or rhe the united merchants t M gd to the tha east bast indies and advani advanced 1 tf further ian aan to thea the 8 ts whole amounting to xa WO a at thred 1 4 p per percent cent ed ad until throb years should be given which whim could not adm mence marh 1726 1786 nor mor until these loans jonns were wema repair rep aiu siu in 1704 an act t of this cha charter was was war passed by which the local affairs of or the company en trusted id toi the three councils of madras madran bombay and calcutta the general direction being boing retained il in a england in 1698 1693 the company I 1 ed ad w giant agrant gi glant ant of two bd joining villages nis ris diction over t the 6 and leave to erect fortifications of elf t which immediate advantage wasi nasf ia taken in 1701 an un a paw prohibited ed the importation into england bf manufactured indian goods liberty for the company to pur chaw the of thirty seven towns to Calcut calcutta tai tap and have given up to them bengal indebted to themyana them thom imd yand leave to io pass good goods for exportation free freo through that province were WOM cuned secured oe from the gnp in 1715 with much difficulty a renewal pt fit the charter wm obtained in 1732 aj and the company in 1741 bought its itse extension tension to lo 1780 by a joan loan of 1000 OW ata per por cent the political power of the british in india began in 1748 in I 1 n 1749 expelled though ultimately prote proto protected asilee aalice of jor territory being the price p rice rico of f protection tec tion oneace occasion of itsek ier jer gercise cise several large largo and richaro vil til vincos icel were gained in 1757 by the thie deposition of biu fiu rajah rajab nabob o bengal the defeat vf the french in 1761 left loft the English free freb tor tot pursue their inglai in ini 1792 2 lom lob COM jom tippora sahib to ikiye of W his dominions dominion si and land in bullion mas aas A as taken in 1799 was klain and snored territory terni terri toly tolt was annexed after this followed wars with thel arees Nepa ulese afghans etc until the BrIt ishby cen quest an vexation interference and protection mastered nearly tho the whole of is Js usual swift and great buc success suc cesi induced Indi iced ir regularities excesses and corruption cor cori i toa taa great degree so bo that the of tile the company fell hort short of the expense saud sand in the kompany mcany were obliged to borrok 04 froim the bank of england englad an arid alid from the government for fon current expenses reform was called for in 17 1773 4 3 which was only in 1781 the privilege of the company were ek extended to 1791 with three thred years notice the dividend on the stock co be 8 per cent annual subsidy and three fourths of the revenue ventie re to be paid to the government f jn in smithe 1783 the company so involved through warm wara as hs to ta beuna be unable ato to pay the subsidy and the bame same yeara board of control was appointed proposed by mr pitt and consisting of certa certain irk iru members of council chosen by the england in 1793 the chi charter arwas was prolong prolonged bd to 1814 and atribat 1834 and the trade of india substantially thrown open though the of the trl tra taulo deto to chi china did not hot cease until 1834 I 1 la 1833 anew charrer charter was granted iby which th the company c 0 m pany pank ceased to be a trading association 3 s 0 e la tion but hut con government of india to 1854 sub bub subject acito to the the buard board of control tifa tife country was wa thrown open opeil to british independent enterprise all the property coni copi company pany reyer royer ted to the crown april 12 1834 and was beldun arlist by the company stockholders were assur assured edAn an annual dividend of lop iop loper lopen per cent of the treasure tred trew sure of the pany wha nasf formed into a sinking fund to buy out the thoe stocks L holder holden slat sint per cent valuation buor luor in or anten after 1874 4 went t to par pay company s debts tho the balance iwo as appropriated to various in india tile the stock could be bou bought lit by parliament Parlia parila i at tit for br xa jeipo bany ny time lime a after 1874 with the condition that if at any aby time after 1854 thi the bom company pany were deprive deprived dby by parliament of the government of india stock stockholder holdeM might ide demand marld marid the purchase of th their e ii stock stoe k after three years notice in 1854 the Pir parliament flament determined ito tto ta renew the charter but not mot foi for in akyi eiven given time tune in ih 1858 the act nor for tho the better government of bf fd india 1 was X passed asie by which the cow com company eow pany though not abolished were shorn shob of ail all their power and importance I 1 m PD ha bbb the thwart net act provided ed fort northe forthe hid a p bf directors and h niso also that at all the territories heretofore und erthe government of the east rast india company arm are vested in the tho british queen quen and rind all its powers breto areto te tie exercised in her name one onn bf f the principal pal pai secretaries of state ta t 6 to toj ha have ve all the powers hitherto exercised dl by the tho company or dr by the tila board of control the military and naval navai forces of tile the east india company ahny fud dud ame are to 16 be decreed live ilfe tho the fore forc forces of if the queen anc all persons halding any office edi emp employment loy or bi commissions in I 1 in idla idia I 1 nto ato are transferred to the service gervice of bf the crown all ail functions olan flan c of df the courts of directors 4 and proprietor e tors sare are to cease 06 together with nith the salaries paid and ruid the board biard of control I 1 is likewise abolished space would fail fall to treat even brien brief briefly lyof of the tile romance and poetry pietr connected with this subject or 0 of clive dive hastings wellesley Wel wol iesley napier a ler lar clyde lla iia havelock velock dalhousie gut outram and the other great names in the history of british BrItis india hIndia boutwe but bul we may ilio tile company will become extinct next year and thus will pass pasa away one of the most moat important associations connected with tile extension of th the 0 british power dominion and prosperity we may also further say that the capital stock of therom tile company was nixed fixed by law in 17 1793 93 at though worth more than double that afterward was trans ferrabee fer rable and band in later years vas was W as owned by three or four thousand arid arld persons men mail and women britons arid and foreigners foreIgn elt eit the owner of 1000 of stock hold hoid held 12 months had ono vote of two votes of three votes of eio elo or more four votes the stockholders met in london those owning or more mai o ot of stock were enn efi entitled titled to be present nine holders of one thousand each could call a meeting at any n time m voting was ura viva wood thi tho etine pline though ath dih i nine stockholders could dould call ball for open ballot bailot the attendance was usually small smail and the directors ors ons generally had things their own way and arid thus could sometimes turn the decision upon an appeal from their theli daw own action if directors who must bo british sub subjects eject sold sold out they ceased to hold office six were elected each year to serve four |