This article is about the 16th-19th-century English and British trading company. For other uses, see East India Company (disambiguation).

The East India Company (EIC), also known as the Honourable East India Company and informally as John Company[1] was an English and later British joint- stock company,[2] formed to pursue trade with the East Indies, but which ended up trading mainly with the Indian subcontinent and Qing China. Originally chartered as the “ and Company of Merchants of trading into the East Indies”, the company to account for half of the world’s trade, particularly trade in basic commodities that included cot- ton, silk, indigo dye, salt, saltpetre, tea and opium. The company also ruled the beginnings of the in India.[3] The company received a Royal Charter from Queen Elizabeth on 31 December 1600,[4] making it the old- est among several similarly formed European East India Companies. Wealthy merchants and aristocrats owned the Company’s shares.[5] The government owned no shares and had only indirect control. James Lancaster commanded the first East India Company voy- The company eventually came to rule large areas of India age in 1601 with its own private armies, exercising military power and assuming administrative functions.[6] Company rule in In- dia effectively began in 1757 after the Battle of Plassey sailed from Torbay around the Cape of Good Hope to the and lasted until 1858 when, following the Indian Rebel- Arabian Sea on one of the earliest English overseas Indian of 1857, the Government of India Act 1858 led to expeditions. One of them, the Edward Bonventure, then sailed around Cape Comorin and on to the Malay Penin- the British assuming direct control of India in the [7] form of the new . sula and subsequently returned to in 1594. Despite frequent government intervention, the company In 1596, three more ships sailed east; however, these were all lost at sea.[7] Three years later, on 22 Septem- had recurring problems with its finances. The company [8] was dissolved in 1874 as a result of the East India Stock ber 1599, another group of merchants met and stated Dividend Redemption Act passed one year earlier, as the their intention “to venture in the pretended voyage to the Government of India Act had by then rendered it vesti- East Indies (the which it may please the Lord to pros- per), and the sums that they will adventure”, committing gial, powerless, and obsolete. The official government [9] machinery of British India had assumed its governmental £30,133. Two days later, on 24 September, “the Ad- functions and absorbed its armies. venturers” reconvened and resolved to apply to the Queen for support of the project.[9] Although their first attempt had not been completely suc- 1 Founding cessful, they nonetheless sought the Queen’s unofficial approval to continue, bought ships for their venture and increased their capital to £68,373. The Adventurers con- Soon after the defeat of the Spanish Armada in 1588, [7] London merchants presented a petition to Queen Eliza- vened again a year later. beth I for permission to sail to the Indian .[7] The This time they succeeded, and on 31 December 1600, the permission was granted, and despite the defeat of the Queen granted a Royal Charter to "George, Earl of Cum- English Armada in 1589, on 10 April 1591 three ships berland, and 215 Knights, Aldermen, and Burgesses" un-

1 2 2 FOOTHOLD IN INDIA

der the name, Governor and Company of Merchants of London trading with the East Indies.[10] For a period of fifteen years the charter awarded the newly formed com- pany a monopoly on trade with all countries east of the Cape of Good Hope and west of the Straits of Magel- lan.[10] Sir James Lancaster commanded the first East In- dia Company voyage in 1601[11] and returned in 1603.[12] and in March 1604 Sir Henry Middleton commanded the second voyage. General William Keeling, a captain dur- ing the second voyage, led the third voyage from 1607 to 1610.[13] Initially, the company struggled in the spice trade because of the competition from the already well-established Dutch East India Company. The company opened a factory in Bantam on the first voyage and imports of pepper from were an important part of the com- pany’s trade for twenty years. The factory in Bantam was Red fought the Portuguese at the in closed in 1683. During this time ships belonging to the 1612, and made several voyages to the East Indies. company arriving in India docked at , which was es- tablished as a trade transit point in 1608. In the next two years, the company built its first fac- tory in south India in the town of Machilipatnam on the Coromandel Coast of the Bay of Bengal. The high prof- its reported by the company after landing in India ini- tially prompted King James I to grant subsidiary licences to other trading companies in England. But in 1609 he re- newed the charter given to the company for an indefinite period, including a clause which specified that the charter would cease to be in force if the trade turned unprofitable for three consecutive years. The company was led by one governor and 24 directors, who made up the Court of Directors. They, in turn, re- ported to the Court of Proprietors which appointed them. Ten committees reported to the Court of Directors.

2 Foothold in India

See also: Establishment of English trade in Bengal (1600–1700) English traders frequently engaged in hostilities with their Dutch and Portuguese counterparts in the . The company achieved a major victory over the Portuguese in the Battle of Swally in 1612. The company decided to explore the feasibility of gaining a territorial foothold in mainland India, with official sanction of both countries, and requested that the Crown launch a diplo- investing a courtier with a robe of honour watched by matic mission.[14] Sir Thomas Roe, English ambassador to the court of Jahangir at Agra from 1615–18, and others In 1612, James I instructed Sir Thomas Roe to visit the Mughal Emperor Nuruddin Salim Jahangir (r. 1605– [14] 1627) to arrange for a commercial treaty that would give Roe: the company exclusive rights to reside and build facto- ries in Surat and other areas. In return, the company of- “Upon which assurance of your royal fered to provide the Emperor with goods and rarities from love I have given my general command to the European market. This mission was highly success- all the kingdoms and ports of my dominions ful as Jahangir sent a letter to James through Sir Thomas to receive all the merchants of the English 3.1 Japan 3

nation as the subjects of my friend; that in In 1634, the Mughal emperor extended his hospitality what place soever they choose to live, they to the English traders to the region of Bengal, and in may have free liberty without any restraint; 1717 completely waived customs duties for the trade. The and at what port soever they shall arrive, that company’s mainstay businesses were by then in cotton, neither nor any other shall dare to silk, indigo dye, saltpetre and tea. The Dutch were ag- molest their quiet; and in what city soever gressive competitors, and had meanwhile expanded their they shall have residence, I have commanded monopoly of the spice trade in the Malaccan straits by all my and captains to give them ousting the Portuguese in 1640–41. With reduced Por- freedom answerable to their own desires; to tuguese and Spanish influence in the region, the EIC and sell, buy, and to transport into their country at Dutch East India Company (VOC) entered a period of their pleasure. intense competition, resulting in the Anglo-Dutch Wars For confirmation of our love and friendship, of the 17th and 18th centuries. I desire your Majesty to command your Meanwhile, in 1657, Oliver Cromwell renewed the char- merchants to bring in their ships of all sorts ter of 1609, and brought about minor changes in the hold- of rarities and rich goods fit for my palace; ing of the company. The status of the company was fur- and that you be pleased to send me your royal ther enhanced by the restoration of monarchy in England. letters by every opportunity, that I may rejoice in your health and prosperous affairs; that our In an act aimed at strengthening the power of the EIC, friendship may be interchanged and eternal” King Charles II provisioned the EIC (in a series of five — Nuruddin Salim Jahangir, Letter to James I. acts around 1670) with the rights to autonomous territo- rial acquisitions, to mint money, to command fortresses and troops and form alliances, to make war and peace, and to exercise both civil and criminal jurisdiction over [16] 3 Expansion the acquired areas. William Hedges was sent in 1682 to Shaista Khan, the Mughal governor of Bengal in to obtain a firman, an imperial directive that would grant England regular trad- ing privileges throughout the Mughal Empire. However, the company’s governor in London, Sir Josiah Child, in- terfered with Hedges’s mission, causing Mughal Emperor Aurangzeb to break off the negotiations. In 1689 a Mughal fleet commanded by Sidi Yaqub at- tacked Bombay. After a year of resistance the EIC sur- rendered in 1690, and the company sent envoys to Au- rangzeb’s camp to plead for a pardon. The company’s en- voys had to prostrate themselves before the emperor, pay a large indemnity, and promise better behaviour in the fu- ture. The emperor withdrew his troops and the company subsequently reestablished itself in Bombay and set up a East India House, London, painted by Thomas Malton in c.1800 new base in Calcutta.[17]

The company which benefitted from the imperial pa- tronage, soon expanded its commercial trading opera- 3.1 Japan tions, eclipsing the Portuguese Estado da India, which had established bases in Goa, Chittagong and Bombay In 1613, during the rule of Tokugawa Hidetada of the (which was later ceded to England as part of the dowry Tokugawa Shoganate, the British ship Clove, under the of Catherine de Braganza). The East India Company command of Captain John Saris, was the country’s first also launched a joint effort attack with the Dutch United to arrive in Japan. Saris was the factor of the EIC’s East India Company on Portuguese and Spanish ships off trading post in Java and with the assistance of William the coast of China, which helped secure their ports in Adams, a British sailor who had arrived in Japan in 1600, China.[15] The company created trading posts in Surat was able to gain permission from the ruler to establish (where a factory was built in 1612), Madras (1639), Bom- a commercial house in Hirado on the Japanese island of bay (1668), and Calcutta (1690). By 1647, the company Kyushu: had 23 factories, each under the command of a factor master merchant and governor if so chosen, and had “We give free license to the subjects 90 employees in India. The major factories became the of the King of Great Britaine, Sir Thomas walled forts of Fort William in Bengal, Fort St George in Smythe, Governor and Company of the East Madras, and the Bombay Castle. Indian Merchants and Adventurers forever 4 4 FORMING A COMPLETE MONOPOLY

eventually taken. The ship carried enormous wealth and, according to contemporary East India Company sources, was carrying a relative of the Grand Mughal, though there is no evidence to suggest that it was his daughter and her retinue. The loot from the Ganj-i-Sawai totalled between £325,000 and £600,000, including 500,000 gold and sil- ver pieces, and has become known as the richest ship ever taken by pirates. In a letter sent to the Privy Council by Sir John Gayer, then governor of Bombay and head of the East India Document with the original vermilion of Tokugawa Ieyasu, Company, Gayer claims that “it is certain the Pirates ... granting trade privileges in Japan to the East India Company in did do very barbarously by the People of the Ganj-i-Sawai 1613 and Abdul Ghaffar’s ship, to make them confess where their money was.” The pirates set free the survivors who were left aboard their emptied ships, to continue their safely come into any of our ports of our Empire voyage back to India. of Japan with their shippes and merchandise, without any hindrance to them or their goods, When the news arrived in England it caused an out-cry. and to abide, buy, sell and barter according to In response, a combined bounty of £1,000 (considered their own manner with all nations, to tarry here massive by the standards of the time) was offered for Ev- as long as they think good, and to depart at their ery’s capture by the Privy Council and East India Com- pleasure.”[18] pany, leading to the first worldwide manhunt in recorded history. The plunder of Aurangzeb’s treasure ship had serious consequences for the English East India Com- However, unable to obtain Japanese raw silk for import to pany. The furious Mughal Emperor Aurangzeb ordered China and with their trading area reduced to Hirado and Sidi Yaqub and Nawab Daud Khan to attack and close Nagasaki from 1616 onwards, the Company closed down four of the company’s factories in India and imprison their commercial house in 1623.[19] their officers, who were almost lynched by a mob of angry Mughals, blaming them for their countryman’s depreda- 3.2 Mughal convoy piracy incident of 1695 tions, and threatened to put an end to all English trading in India. To appease Emperor Aurangzeb and particularly his Grand Vizier Asad Khan, Parliament exempted Every In September 1695, Captain , an English pi- from all of the Acts of Grace (pardons) and amnesties it rate on board the Fancy, reached the Straits of Bab-el- would subsequently issue to other pirates.[21] Mandeb, where he teamed up with five other pirate cap- tains to make an attack on the Indian fleet making the an- nual voyage to Mocha. The Mughal convoy included the • An 18th-century depiction of Henry Every, with the treasure-laden Ganj-i-Sawai, reported to be the greatest Fancy shown engaging its prey in the background in the Mughal fleet and the largest ship operational in the • Indian Ocean, and its escort, the Fateh Muhammed. They British pirates that fought during the Child’s War en- were spotted passing the straits en route to Surat. The pi- gaging the Ganj-i-Sawai rates gave chase and caught up with the Fateh Muhammed • Depiction of Captain Every's encounter with the some days later, and meeting little resistance, took some [20] Mughal Emperor’s granddaughter after his Septem- £50,000 to £60,000 worth of treasure. ber 1695 capture of the Mughal trader Ganj-i-Sawai

4 Forming a complete monopoly

4.1 Trade monopoly

The prosperity that the officers of the company enjoyed allowed them to return to Britain and establish sprawling estates and businesses, and to obtain political power. The company developed a lobby in the English parliament. English, Dutch and Danish factories at Mocha Under pressure from ambitious tradesmen and former as- sociates of the company (pejoratively termed Interlopers Every continued in pursuit and managed to overhaul the by the company), who wanted to establish private trading Ganj-i-Sawai, who put up a fearsome fight but it too was firms in India, a deregulating act was passed in 1694.[22] 4.1 Trade monopoly 5

Rear view of the East India Company’s Factory at Cossimbazar

This allowed any English firm to trade with India, un- less specifically prohibited by , thereby annulling the charter that had been in force for almost 100 years. By an act that was passed in 1698, a new “parallel” East India Company (officially titled the En- Company painting depicting an official of the East India Com- glish Company Trading to the East Indies) was floated un- pany, c. 1760 der a state-backed indemnity of £2 million. The power- ful stockholders of the old company quickly subscribed a sum of £315,000 in the new concern, and dominated the new body. The two companies wrestled with each other War diverted the state’s attention towards consolidation for some time, both in England and in India, for a domi- and defence of its territorial possessions in Europe and nant share of the trade.[22] its colonies in North America.[23] It quickly became evident that, in practice, the origi- The war took place on Indian soil, between the company nal company faced scarcely any measurable competition. troops and the French forces. In 1757, the Law Offi- The companies merged in 1708, by a tripartite indenture cers of the Crown delivered the Pratt-Yorke opinion dis- involving both companies and the state. Under this ar- tinguishing overseas territories acquired by right of con- rangement, the merged company lent to the Treasury a quest from those acquired by private treaty. The opinion sum of £3,200,000, in return for exclusive privileges for asserted that, while the Crown of Great Britain enjoyed the next three years, after which the situation was to be sovereignty over both, only the property of the former was reviewed. The amalgamated company became the United vested in the Crown.[23] Company of Merchants of England Trading to the East In- With the advent of the Industrial Revolution, Britain dies.[22] surged ahead of its European rivals. Demand for In- In the following decades there was a constant battle be- dian commodities was boosted by the need to sustain the tween the company lobby and the Parliament. The com- troops and the economy during the war, and by the in- pany sought a permanent establishment, while the Parlia- creased availability of raw materials and efficient meth- ment would not willingly allow it greater autonomy and ods of production. As home to the revolution, Britain so relinquish the opportunity to exploit the company’s experienced higher standards of living. Its spiralling cy- profits. In 1712, another act renewed the status of the cle of prosperity, demand and production had a profound company, though the debts were repaid. By 1720, 15% influence on overseas trade. The company became the of British imports were from India, almost all passing single largest player in the British global market. William through the company, which reasserted the influence of Henry Pyne notes in his book The Microcosm of London the company lobby. The licence was prolonged until (1808) that: 1766 by yet another act in 1730. At this time, Britain and France became bitter rivals. Fre- quent skirmishes between them took place for control of colonial possessions. In 1742, fearing the monetary con- On the 1 March 1801, the debts of the sequences of a war, the British government agreed to ex- East India Company to £5,393,989 their ef- tend the deadline for the licensed exclusive trade by the fects to £15,404,736 and their sales increased company in India until 1783, in return for a further loan since February 1793, from £4,988,300 to of £1 million. Between 1756 and 1763, the Seven Years’ £7,602,041. 6 5 BASIS FOR THE MONOPOLY

4.2 Saltpetre trade

Saltpetre used for gunpowder was one of the major trade goods of the company.

Sir John Banks, a businessman from Kent who negoti- ated an agreement between the king and the company, East India Company silver coin issued during William IV's reign, began his career in a syndicate arranging contracts for Indian Museum victualling the navy, an interest he kept up for most of his life. He knew that Samuel Pepys and John Evelyn had amassed a substantial fortune from the Levant and Indian French territories. Clive, the Governor General, trades. led the company to a victory against Joseph François Du- pleix, the commander of the French forces in India, and He became a Director and later, as Governor of the recaptured Fort St George from the French. The com- East India Company in 1672, he arranged a contract pany took this respite to seize Manila in 1762.[25] which included a loan of £20,000 and £30,000 worth of saltpetre—also known as potassium nitrate, a primary in- By the Treaty of Paris (1763), France regained the five gredient in gunpowder—for the King “at the price it shall establishments captured by the British during the war sell by the candle"—that is by auction—where bidding (Pondichéry, Mahe, Karikal, Yanam and Chandernagar) could continue as long as an inch-long candle remained but was prevented from erecting fortifications and keep- alight. ing troops in Bengal (art. XI). Elsewhere in India, the French were to remain a military threat, particularly dur- Outstanding debts were also agreed and the company per- ing the War of American Independence, and up to the mitted to export 250 tons of saltpetre. Again in 1673, capture of Pondichéry in 1793 at the outset of the French Banks successfully negotiated another contract for 700 Revolutionary Wars without any military presence. Al- tons of saltpetre at £37,000 between the king and the though these small outposts remained French possessions company. So urgent was the need to supply the armed for the next two hundred years, French ambitions on In- forces in the , America and elsewhere dian territories were effectively laid to rest, thus elimi- that the authorities sometimes turned a blind eye on the nating a major source of economic competition for the untaxed sales. One governor of the company was even company. reported as saying in 1864 that he would rather have the saltpetre made than the tax on salt.[24] 5.2 Military expansion

5 Basis for the monopoly Main article: Company rule in India

5.1 Colonial monopoly In its first century and half, the EIC used a few hundred soldiers as guards. The great expansion came after 1750, Further information: Great Britain in the Seven Years’ when it had 3000 regular troops. By 1763, it had 26,000; War by 1778, it had 67,000. It recruited largely Indian troops, The Seven Years’ War (1756–63) resulted in the defeat and trained them along European lines.[26] The company, of the French forces, limited French imperial ambitions, fresh from a colossal victory, and with the backing of its and stunted the influence of the Industrial Revolution in own private well-disciplined and experienced army, was 5.2 Military expansion 7

The Mughal Emperor Shah Alam II, who with his allies fought against the East India Company during his early years (1760– 64), only accepting the protection of the British in the year 1803, after he had been blinded by his enemies and deserted by his Coins issued by East India Company during reign of Shah Alam subjects II, Indian Museum

pany forces against Siraj Ud Daulah, the last indepen- dent Nawab of Bengal, Bihar, and Midnapore district in Odisha to victory at the Battle of Plassey in 1757, re- sulting in the conquest of Bengal. This victory estranged the British and the Mughals, since Siraj Ud Daulah was a Mughal feudatory ally. With the gradual weakening of the Marathas in the after- math of the three Anglo-Maratha wars, the British also secured the Ganges-Jumna Doab, the Delhi-Agra region, parts of Bundelkhand, Broach, some districts of , the fort of Ahmmadnagar, province of Cuttack (which included Mughalbandi/the coastal part of Odisha, Gar- jat/the princely states of Odisha, Balasore Port, parts of Midnapore district of West Bengal), Bombay () and the surrounding areas, leading to a formal end of Robert Clive became the first British Governor of Bengal after he had instated the schismatic Mir Jafar as the Nawab of Bengal. the Maratha empire and firm establishment of the British East India Company in India. Hyder Ali and Tipu Sultan, the rulers of the Kingdom able to assert its interests in the Carnatic region from its of Mysore, offered much resistance to the British forces. base at Madras and in Bengal from Calcutta, without fac- [27] Having sided with the French during the Revolutionary ing any further obstacles from other colonial powers. War, the rulers of Mysore continued their struggle against The company continued to experience resistance from lo- the company with the four Anglo-Mysore Wars. Mysore cal rulers during its expansion. Robert Clive led com- finally fell to the company forces in 1799, with the death 8 5 BASIS FOR THE MONOPOLY

of Tipu Sultan. India Company’s armies were used to seize the colonial possessions of other European nations, including the is- lands of Réunion and . There was a systemic disrespect in the company for the spreading of Protestantism although it fostered respect for Hindu and Muslim, castes and ethnic groups. The growth of tensions between the EIC and the local religious and cultural groups grew in the 19th century as the Protestant revival grew in Great Britain. These tensions erupted at the and the company ceased to exist when the company dissolved through the East India Stock Dividend Redemption Act 1873.[32]

5.3 Opium trade

Main articles: , and The fall of Tipu Sultan and the Sultanate of Mysore, during the History of opium in China Battle of Seringapatam in 1799 In the 18th century, Britain had a huge trade deficit with

The last vestiges of local administration were restricted to the northern regions of Delhi, Oudh, Rajputana, and Punjab, where the company’s presence was ever increas- ing amidst infighting and offers of protection among the remaining princes. The hundred years from the Battle of Plassey in 1757 to the Indian Rebellion of 1857 were a period of consolidation for the company, which began to function more as an administrator and less as a trading concern. A cholera pandemic began in Bengal, then spread across India by 1820. 10,000 British troops and countless In- dians died during this pandemic.[28] Between 1736 and 1834 only some 10% of the East India Company’s offi- cers survived to take the final voyage home.[29] The Nemesis destroying Chinese war junks during the Second In the early 19th century the Indian question of Battle of Chuenpee, 7 January 1841, by Edward Duncan geopolitical dominance and empire holding remained with the East India Company. .[30] The three independent Qing dynasty China and so in 1773, the Company created armies of the company’s Presidencies, with some locally a British monopoly on opium buying in Bengal, India by raised irregular forces, expanded to a total of 280,000 prohibiting the licensing of opium farmers and private men by 1857.[31] First recruited from mercenaries and cultivation. The monopoly system established in 1799 low-caste volunteers, the Bengal Army especially eventu- continued with minimal changes until 1947.[33] As the ally became composed largely of high-caste Hindus and opium trade was illegal in China, Company ships could landowning Muslims. not carry opium to China. So the opium produced in Bengal was sold in Calcutta on condition that it be sent Within the Army, British officers who initially trained at [34] the company’s own academy at the Addiscombe Military to China. Seminary, always outranked Indians, no matter how long Despite the Chinese ban on opium imports, reaffirmed in their service. The highest rank to which an Indian soldier 1799 by the Jiaqing Emperor, the drug was smuggled into could aspire was Subadar-Major (or Rissaldar-Major in China from Bengal by traffickers and agency houses such cavalry units), effectively a senior subaltern equivalent. as Jardine, Matheson & Co and Dent & Co. in amounts Promotion for both British and Indian soldiers was strictly averaging 900 tons a year. The proceeds of the drug- by seniority, so Indian soldiers rarely reached the com- smugglers landing their cargoes at Lintin Island were paid missioned ranks of Jamadar or Subadar before they were into the Company’s factory at and by 1825, most middle aged at best. They received no training in admin- of the money needed to buy tea in China was raised by istration or leadership to make them independent of their the illegal opium trade. British officers. The Company established a group of trading settlements During the wars against the French and their allies in the centred on the Straits of called the Straits Settle- late eighteenth and early nineteenth centuries, the East ments in 1826 to protect its trade route to China and to 6.2 Financial troubles 9

combat local piracy. The Settlements were also used as 6.2 Financial troubles penal settlements for Indian civilian and military prison- ers. Though the Company was becoming increasingly bold In 1838 with the amount of smuggled opium entering and ambitious in putting down resisting states, it was be- China approaching 1,400 tons a year, the Chinese im- coming clearer that the Company was incapable of gov- posed a death penalty for opium smuggling and sent a erning the vast expanse of the captured territories. The Special Imperial Commissioner, Lin Zexu, to curb smug- Bengal famine of 1770, in which one-third of the local gling. This resulted in the First Opium War (1839– population died, caused distress in Britain. Military and 42). After the war Hong Kong island was ceded to administrative costs mounted beyond control in British- Britain under the Treaty of Nanking and the Chinese administered regions in Bengal because of the ensuing market opened to the opium traders of Britain and other drop in labour productivity. nations.[33] The Jardines and Apcar and Company dom- At the same time, there was commercial stagnation and inated the trade, although P&O also tried to take a trade depression throughout Europe. The directors of the share.[35] A Second Opium War fought by Britain and company attempted to avert bankruptcy by appealing to France against China lasted from 1856 until 1860 and Parliament for financial help. This led to the passing of led to the Treaty of Tientsin, which legalised the impor- the Tea Act in 1773, which gave the Company greater tation of opium. Legalisation stimulated domestic Chi- autonomy in running its trade in the American colonies, nese opium production and increased the importation of and allowed it an exemption from tea import duties which opium from Turkey and Persia. This increased compe- its colonial competitors were required to pay. tition for the Chinese market led to India reducing its When the American colonists and tea merchants were opium output and diversifying its exports.[33] told of this Act, they boycotted the Company tea. Al- though the price of tea had dropped because of the Act, it also validated the Townshend Acts, setting the prece- dent for the king to impose additional taxes in the future. The arrival of tax-exempt Company tea, undercutting the 6 Regulation of the company’s af- local merchants, triggered the Boston Tea Party in the fairs Province of Massachusetts Bay, one of the major events leading up to the American Revolution.

6.1 Writers 6.3 Regulating Acts of Parliament

6.3.1 East India Company Act 1773

By the Regulating Act of 1773 (later known as the East India Company Act 1773), the Parliament of Great Britain imposed a series of administrative and economic reforms; this clearly established Parliament’s sovereignty and ultimate control over the Company. The Act recog- nised the Company’s political functions and clearly estab- lished that the "acquisition of sovereignty by the subjects of the Crown is on behalf of the Crown and not in its own right”. Despite stiff resistance from the East India lobby in par- liament and from the Company’s shareholders, the Act passed. It introduced substantial governmental control The Destruction of Tea at Boston Harbor, 1773 and allowed British India to be formally under the control of the Crown, but leased back to the Company at £40,000 for two years. Under the Act’s most important provi- The Company employed many junior clerks, known as sion, a governing Council composed of five members was “writers”, to record the details of accounting, manage- created in Calcutta. The three members nominated by rial decisions, and activities related to the Company, such Parliament and representing the Government’s interest as minutes of meetings, copies of Company orders and could, and invariably would, outvote the two Company contracts, and filings of reports and copies of ship’s logs. members. The Council was headed by , Several well-known British scholars and literary men had the incumbent Governor, who became the first Governor- Company writerships, such as Henry Thomas Colebrooke General of Bengal, with an ill-defined authority over the in India and Charles Lamb in England. Bombay and Madras Presidencies.[36] His nomination, 10 6 REGULATION OF THE COMPANY’S AFFAIRS

made by the Court of Directors, would in future be sub- ject to the approval of a Council of Four appointed by the Crown. Initially, the Council consisted of Lt. General Sir John Clavering, The Honourable Sir George Monson, Sir Richard Barwell, and Sir Philip Francis.[37] Hastings was entrusted with the power of peace and war. British judges and magistrates would also be sent to In- dia to administer the legal system. The Governor Gen- eral and the council would have complete legislative pow- ers. The company was allowed to maintain its virtual monopoly over trade in exchange for the biennial sum and was obligated to export a minimum quantity of goods yearly to Britain. The costs of administration were to be met by the company. The Company initially welcomed General Lord Cornwallis, receiving two of Tipu Sultan's sons as these provisions, but the annual burden of the payment hostages in the year 1793 contributed to the steady decline of its finances.[37]

6.3.3 Act of 1786 6.3.2 East India Company Act 1784 (Pitt’s India Act) The Act of 1786 (26 Geo. 3 c. 16) enacted the demand of Earl Cornwallis that the powers of the Governor-General be enlarged to empower him, in special cases, to override The East India Company Act 1784 (Pitt’s India Act) had the majority of his Council and act on his own special re- two key aspects: sponsibility. The Act enabled the offices of the Governor- General and the Commander-in-Chief to be jointly held • Relationship to the British government: the bill dif- by the same official. ferentiated the East India Company’s political func- This Act clearly demarcated borders between the Crown tions from its commercial activities. In political and the Company. After this point, the Company func- matters the East India Company was subordinated tioned as a regularised subsidiary of the Crown, with to the British government directly. To accomplish greater accountability for its actions and reached a stable this, the Act created a Board of Commissioners for stage of expansion and consolidation. Having temporar- the Affairs of India, usually referred to as the Board ily achieved a state of truce with the Crown, the Company of Control. The members of the Board were the continued to expand its influence to nearby territories Chancellor of the Exchequer, the Secretary of State, through threats and coercive actions. By the middle of the and four Privy Councillors, nominated by the King. 19th century, the Company’s rule extended across most The act specified that the Secretary of State “shall of India, Burma, Malaya, Singapore, and British Hong preside at, and be President of the said Board". Kong, and a fifth of the world’s population was under its trading influence. In addition, , one of the states • Internal Administration of British India: the bill laid in Malaya, became the fourth most important settlement, the foundation for the centralised and bureaucratic a presidency, of the Company’s Indian territories.[38] British administration of India which would reach its peak at the beginning of the 20th century during the governor-generalship of George Nathaniel Curzon, 6.3.4 East India Company Act 1793 (Charter Act) 1st Baron Curzon. The Company’s charter was renewed for a further 20 years by the Charter Act of 1793. In contrast with the Pitt’s Act was deemed a failure because it quickly became legislative proposals of the previous two decades, the apparent that the boundaries between government con- 1793 Act was not a particularly controversial measure, trol and the company’s powers were nebulous and highly and made only minimal changes to the system of govern- subjective. The government felt obliged to respond to ment in India and to British oversight of the Company’s humanitarian calls for better treatment of local peoples activities. in British-occupied territories. Edmund Burke, a for- mer East India Company shareholder and diplomat, was moved to address the situation and introduced a new Reg- 6.3.5 East India Company Act 1813 (Charter Act) ulating Bill in 1783. The bill was defeated amid lobbying by company loyalists and accusations of nepotism in the The aggressive policies of Lord Wellesley and the bill’s recommendations for the appointment of council- Marquis of Hastings led to the Company gaining con- lors. trol of all India (except for the Punjab and Sindh), and 6.3 Regulating Acts of Parliament 11

1835 gold Double Mohur (reverse), valued at 30 Rupees The Industrial Revolution in Britain, the consequent search for markets, and the rise of laissez-faire economic ideology form the background to the Government of In- dia Act 1833 (3 & 4 Will. 4 c. 85). The Act:

• removed the Company’s remaining trade monopo- lies and divested it of all its commercial functions

• renewed for another twenty years the Company’s po- litical and administrative authority

• invested the Board of Control with full power and Major-General Wellesley, meeting with Nawab Azim al-Daula, authority over the Company. As stated by Professor 1805 Sri Ram Sharma,[39] “The President of the Board of Control now became Minister for Indian Affairs.” some part of the then kingdom of Nepal under the Sugauli • carried further the ongoing process of administra- Treaty. The Indian Princes had become vassals of the tive centralisation through investing the Governor- Company. But the expense of wars leading to the total General in Council with, full power and authority control of India strained the Company’s finances. The to superintend and, control the Presidency Govern- Company was forced to petition Parliament for assis- ments in all civil and military matters tance. This was the background to the Charter Act of 1813 which, among other things: • initiated a machinery for the codification of laws

• asserted the sovereignty of the British Crown over • provided that no Indian subject of the Company the Indian territories held by the Company; would be debarred from holding any office under the Company by reason of his religion, place of birth, • renewed the charter of the company for a further descent or colour twenty years, but • vested the Island of St Helena in the Crown [40] • deprived the company of its Indian trade monopoly except for trade in tea and the trade with China British influence continued to expand; in 1845, Great Britain purchased the Danish colony of Tranquebar. The • required the company to maintain separate and Company had at various stages extended its influence to distinct its commercial and territorial accounts China, the Philippines, and Java. It had solved its critical • opened India to missionaries lack of cash needed to buy tea by exporting Indian-grown opium to China. China’s efforts to end the trade led to the First Opium War (1839–1842). 6.3.6 Government of India Act 1833

6.3.7 English Education Act 1835

Main article: English Education Act 1835

The English Education Act by the Council of India in 1835 reallocated funds from the East India Company to spend on education and literature in India.

6.3.8 Government of India Act 1853

This Act (16 & 17 Vict. c. 95) provided that British India would remain under the administration of the Company in trust for the Crown until Parliament should decide oth- erwise. It also introduced a system of open competition as the basis of recruitment for civil servants of the com- File:India 1835 2 Mohurs.jpg pany and thus deprived the Directors of their patronage system.[41] 12 8 ESTABLISHMENTS IN BRITAIN

Under the act, for the first time the legislative and execu- tive powers of the governor general’s council were sepa- rated. It also added six additional members to the gover- nor general’s executive committee.[42]

7 Indian Rebellion and disestab- lishment

Main article: Indian Rebellion of 1857 The Indian Rebellion of 1857 resulted in widespread

The expanded East India House, , London, as reconstructed in 1796–1800. A drawing by Thomas Hosmer Shepherd of c.1817.

House, Bishopsgate, from 1621 to 1638; and in Lead- enhall Street from 1638 to 1648, the Company moved into Craven House, an Elizabethan mansion in Leaden- hall Street. The building had become known as East India House by 1661. It was completely rebuilt and enlarged in 1726–9; and further significantly remodelled and ex- panded in 1796–1800. It was finally vacated in 1860 and Capture of the last Mughal emperor Bahadur Shah Zafar and demolished in 1861–62. The site is now occupied by the his sons by William Hodson in 1857 Lloyd’s building. In 1607, the Company decided to build its own ships and devastation in India: many condemned the East India leased a yard on the River Thames at Deptford. By 1614, Company for permitting the events to occur.[43] In the the yard having become too small, an alternative site was aftermath of the Rebellion, under the provisions of the acquired at Blackwall: the new yard was fully operational Government of India Act 1858, the British Government by 1617. It was sold in 1656, although for some years East nationalised the Company. The Crown took over its In- India Company ships continued to be built and repaired dian possessions, its administrative powers and machin- there under the new owners. ery, and its armed forces. In 1803, an Act of Parliament, promoted by the East In- The Company remained in existence in vestigial form, dia Company, established the East India Dock Company, continuing to manage the tea trade on behalf of the British with the aim of establishing a new set of docks (the East Government (and the supply of ) until the India Docks) primarily for the use of ships trading with East India Stock Dividend Redemption Act 1873 came India. The existing Brunswick Dock, part of the Black- into effect, on 1 January 1874. This Act provided for wall Yard site, became the Export Dock; while a new Im- the formal dissolution of the company on 1 June 1874, port Dock was built to the north. In 1838 the East India after a final dividend payment and the commutation or Dock Company merged with the West India Dock Com- redemption of its stock.[44] The Times reported: pany. The docks were taken over by the Port of London Authority in 1909, and closed in 1967. “It accomplished a work such as in the The East India College was founded in 1806 as a train- whole history of the human race no other com- ing establishment for “writers” (i.e. clerks) in the Com- pany ever attempted and as such is ever likely pany’s service. It was initially located in Hertford Castle, to attempt in the years to come.” but moved in 1809 to purpose-built premises at Hertford Heath, Hertfordshire. In 1858 the college closed; but in 1862 the buildings reopened as a public school, now 8 Establishments in Britain Haileybury and Imperial Service College. The East India Company Military Seminary was founded The Company’s headquarters in London, from which in 1809 at Addiscombe, near Croydon, Surrey, to train much of India was governed, was East India House in young officers for service in the Company’s armies in In- Leadenhall Street. After occupying premises in Philpot dia. It was based in Addiscombe Place, an early 18th- Lane, , from 1600 to 1621; in Crosby century mansion. The government took it over in 1858, 13

East India company and the forced cultivation of opium in place of grain.[50][51]

10

• Historical Depictions

• Downman (1685)

• Lens (1700)

• National Geographic (1917)

• Rees (1820) Addiscombe Seminary, photographed in c.1859, with cadets in the foreground. • Laurie (1842)

and renamed it the Royal Indian Military College. In • Modern Depictions 1861 it was closed, and the site was subsequently rede- • 1600 – 1707 veloped. In 1818, the Company entered into an agreement by • 1707 – 1801 which those of its servants who were certified insane in • 1801 – 1874 India might be cared for at Pembroke House, Hackney, London, a private lunatic asylum by Dr George Rees until 1838, and thereafter by Dr William Williams. The The English East India Company flag changed with his- arrangement outlasted the Company itself, continuing tory, with a canton based on the current flag of the King- until 1870, when the India Office opened its own asylum, dom, and a field of 9 to 13 alternating red and white the Royal India Asylum, at Hanwell, Middlesex.[45] stripes. The East India Club in London was formed in 1849 for From the period of 1600, the canton consisted of a St officers of the Company. The Club still exists today as a George’s Cross representing the Kingdom of England. private gentlemen’s club with its club house situated at 16 With the Acts of Union 1707, the canton was updated St. James’s Square, London.[46] to be the new Union —consisting of an English St George’s Cross combined with a Scottish St Andrew’s cross—representing the . Af- ter the Acts of Union 1800 that joined Ireland with Great 9 Legacy and criticisms Britain to form the United Kingdom, the canton of the East India Company flag was altered accordingly to in- The East India Company has had a long lasting impact clude a Saint Patrick’s replicating the updated on the Indian Subcontinent, with both positive as well as Union Flag representing the United Kingdom of Great harmful effects. Although dissolved following the rebel- Britain and Ireland. lion of 1857, it stimulated the growth of the British Em- Regarding the field of the flag, there has been much de- pire. Its armies after 1857 were to become the armies bate and discussion regarding the number and order of the of British India and it played a key role in introducing stripes. Historical documents and paintings show many English as an official language in India. variations from 9 to 13 stripes, with some images show- The East India Company was the first company to record ing the top stripe being red and others showing the top the Chinese usage of -flavoured tea which led to stripe being white. [47] the development of Earl Grey tea. At the time of the American Revolution the East India The East India Company introduced a system of merit- Company flag was nearly identical to the Grand Union based appointments that provided a model for the British Flag. Historian Charles Fawcett argued that the East India and .[48] Company Flag inspired the Stars and Stripes.[52] Simultaneously, widespread corruption and looting of In- dian treasures during its rule resulted in resultant poverty in India.[49] Famines, such as the Great Bengal famine 11 of 1770 and subsequent famines during the 18th and 19th centuries, became widespread, chiefly because of The East India Company’s original coat of arms was exploitative agriculture promulgated by the policies of the granted in 1600. The arms was as follows: 14 12 SHIPS

Ships in Bombay Harbour, c. 1731

• Earl of Abergavenny (1796)

• Earl of Mornington (1799); packet ship The later coat of arms of the East India Company • Lord Nelson (1799) • David Clark (1816) “, three ships with three masts, rigged and under full sail, the sails, pennants and ensigns , each • Kent (1820): Lost on her third voyage charged with a cross ; on a chief of the second a • quarterly Azure and Gules, on the 1st and 4th a fleur- Nemesis (1839): first British-built ocean-going iron de-lis or, on the 2nd and 3rd a or, between two warship roses Gules seeded Or barbed .” The shield had as • Agamemnon (1855) a : “A sphere without a frame, bounded with the Zodiac in Or, between two pennants flottant Ar- gent, each charged with a cross Gules, over the sphere the words DEUS INDICAT” (Latin: God Indicates). The were two sea (lions with fishes’ tails) and the was DEO DUCENTE NIL NOCET (Latin: Where God Leads, Nothing Hurts).[53] The East India Company’s arms, granted in 1698, were: “Argent a cross Gules; in the dexter chief quarter an es- cutcheon of the arms of France and England quarterly, the shield ornamentally and regally crowned Or.” The crest was: “A lion rampant guardant Or holding between The Royal George, 1779. Royal George was one of the five East Indiamen the Spanish fleet captured in 1780. the forepaws a regal crown proper.” The supporters were: “Two lions rampant guardant Or, each supporting a ban- During the period of the , the East In- ner erect Argent, charged with a cross Gules.” The motto dia Company arranged for letters of marque for its vessels was AUSPICIO REGIS ET SENATUS ANGLIÆ (Latin: By such as the Lord Nelson. This was not so that they could right of the King and the Senate of England).[53] carry cannon to fend off warships, privateers and pirates on their voyages to India and China (that they could do without permission) but so that, should they have the op- 12 Ships portunity to take a prize, they could do so without being guilty of piracy. Similarly, the Earl of Mornington, an Ships of the East India Company were called East India- East India Company packet ship of only six guns, also men or simply “Indiamen”.[54] Some examples include: sailed under a letter of marque. In addition, the company had its own navy, the Bombay • (1595) Marine, equipped with warships such as Grappler. These vessels often accompanied vessels of the on • Doddington (East Indiaman) Lost 1755 expeditions, such as the (1811). • Royal Captain (Lost on her maiden voyage in 1773) At the Battle of Pulo Aura, which was probably the • Grosvenor Lost 1782 company’s most notable naval victory, , Commodore of a convoy of Indiamen and sailing aboard • General Goddard (1782) the Warley, led several Indiamen in a skirmish with a 15

French squadron, driving them off. Some six years ear- • Governor-General of India lier, on 28 January 1797, five Indiamen, the Woodford, under Captain Charles Lennox, the Taunton-Castle, Cap- • Chief Justice of Bengal tain Edward Studd, Canton, Captain Abel Vyvyan, and • Advocate-General of Bengal Boddam, Captain George Palmer, and Ocean, Captain John Christian Lochner, had encountered Admiral de • Chief Justice of Madras Sercey and his squadron of . On this occasion the Indiamen also succeeded in bluffing their way to safety, • List of trading companies and without any shots even being fired. Lastly, on 15 June 1795, the General Goddard played a large role in the cap- • East India Company Cemetery in Macau ture of seven Dutch East Indiamen off St Helena. East India Company (EIC)'s ships were well built, with General: the result that the Royal Navy bought several Company ships to convert to warships and transports. The Earl • British Imperial Lifeline of Mornington became HMS Drake. Other examples in- clude: •

• HMS Calcutta (1795) • Commercial Revolution • HMS Glatton (1795) • Political warfare in British colonial India • HMS Hindostan (1795) • Trade between Western Europe and the Mughal • HMS Hindostan (1804) Empire in the 17th century • HMS Malabar (1804) • Whampoa anchorage • HMS Buffalo (1813)

The company had many ports of call, some of which have 15 Notes and references seen their names changed over time. Main article: List of ports of call of the British East [1] Carey, W.H. (1882). 1882 - The Good Old Days of Hon- India Company ourable John Company. Simla: Argus Press. Retrieved 30 July 2015.

[2] The Dutch East India Company was the first to issue public stock. 13 Records [3] “Books associated with Trading Places - the East India Company and Asia 1600–1834, an Exhibition.”. Main article: India Office Records [4] The Register of Letters &c. of the Governor and Company Unlike all other British Government records, the records of Merchants of London trading into the East Indies, 1600– 1619. On page three, a letter written by on 23 from the East India Company (and its successor the India January 1601 (“Witnes or selfe at Westminster the xxiiijth Office) are not in The National Archives at Kew, Lon- of Ianuarie in the xliijth yeare of or Reigne.”) states, “Haue don, but are held by the in London as been pleased to giue lysence vnto or said Subjects to pro- part of the Asia, Pacific and Africa Collections. The ceed in the said voiadgs, & for the better inabling them to catalogue is searchable online in the Access to Archives establish a trade into & from the said East Indies Haue by catalogues.[55] Many of the East India Company records or tres Pattents vnder or great seale of England beareing are freely available online under an agreement that the date at Westminster the last daie of december last past in- Families in British India Society has with the British Li- corporated or said Subjecte by the name of the Gournor r brary. Published catalogues exist of East India Company & Companie of the me chaunts of London trading ships’ journals and logs, 1600–1834;[56] and of some of into the East Indies, & in the same tres Pattents haue the Company’s daughter institutions, including the East geven them the sole trade of theast Indies for the terme of XVteen yeares ...” India Company College, Haileybury, and Addiscombe [57] Military Seminary. [5] Baladouni, Vahe (1983). “Accounting in the Early Years of the East India Company”. The Accounting Historians Journal 10 (2): 63–80. Retrieved 13 November 2012. 14 See also [6] This is the argument of Robins (2006).

East India Company: [7] “Imperial Gazetteer of India” II. 1908. p. 454. 16 15 NOTES AND REFERENCES

[8] Wilbur, Marguerite Eyer (1945). The East India Com- [26] Gerald Bryant, “Officers of the East India Company’s pany: And the British Empire in the Far East. Stan- army in the days of Clive and Hastings”, The Journal of ford, Cal.: Stanford University Press. p. 18. ISBN Imperial and Commonwealth History (1978)6#3 pp 203- 9780804728645. 27

[9] http://www.british-history.ac.uk/report.aspx?compid= [27] James Stuart Olson and Robert Shadle (1996). Historical 68624 Dictionary of the British Empire. Greenwood. pp. 252– 54. [10] Imperial Gazetteer of India vol. II 1908, p. 6 [28] Cholera’s seven pandemics. CBC News. 2 December [11] Gardner, Brian (1972). The East India Company: a His- 2008 tory. McCall Publishing Company. ISBN 0-8415-0124- 6. [29] Holmes, Richard (2005). Sahib: the British soldier in In- dia, 1750–1914. London: HarperCollins. ISBN 0-00- [12] http://thinkingpast.com/seldenmapatlas/eicvoyage1.htm 713753-2.

[13] http://thinkingpast.com/seldenmapatlas/eicvoyage3.htm [30] Note: as of 30 December 1600, the official name: Gov- ernor and Company of Merchants of London trading with [14] The battle of Plassey ended the tax on the Indian goods. the East Indies Indian History Sourcebook: England, India, and The East Indies, 1617 A.D [31] McElwee, William (1974). The Art of War: Waterloo to Mons. Purnell Book Services. p. 72. [15] Tyacke, Sarah (2008). “Gabriel Tatton’s Mar- itime Atlas of the East Indies, 1620–1621: [32] Tolan, John; Veinstein, Gilles and Henry Laurens (2013). Portsmouth Royal Naval Museum, Admiralty Li- “Europe and the Islamic World: A History”. Princeton brary Manuscript, MSS 352”. Imago Mundi 60 (1): University Press. pp. 275–276. ISBN 978-0-691-14705- 39–62. doi:10.1080/03085690701669293. 5.

[16] “East India Company” (1911). Encyclopædia Britannica [33] Windle, James (2012). “Insights for Contemporary Drug Eleventh Edition, Volume 8, p.835 Policy: A Historical Account of Opium Control in India and Pakistan”. Asian Journal of Criminology 7 (1): 55– [17] Europe, 1450 to 1789: Encyclopaedia of the Early Mod- 74. doi:10.1007/s11417-011-9104-0. ern World [34] East India Company Factory Records Sources from the [18] Wilbur, Marguerite Eyer (1945). The East India Com- British Library, London Part 1: China and Japan pany: And the British Empire in the Far East. Stanford University Press. pp. 82–3. ISBN 978-0-8047-2864-5. [35] Harcourt, Freda (2006). Flagships of Imperialism: The P & O Company and the Politics of Empire from Its Origins [19] Hayami, Akira (2015). Japan’s Industrious Revolution: to 1867. Manchester University Press. p. 103. ISBN Economic and Social Transformations in the Early Mod- 978-1-84779-145-0. ern Period. Springer. p. 49. ISBN 978-4-431-55142-3. [36] Keay, John (1991). The Honourable Company: A History [20] Burgess, Douglas R. (2009). The Pirates’ Pact: The Se- of the English East India Company. Macmillan Publishing cret Alliances Between History’s Most Notorious Bucca- Company, New York p. 385. neers and Colonial America. New York, NY: McGraw- Hill. ISBN 978-0-07-147476-4 [37] Anthony, Frank. Britain’s Betrayal in India: The Story of the Anglo Indian Community. Second Edition. London: [21] Fox, E. T. (2008). King of the Pirates: The Swashbuck- The Simon Wallenberg Press, 2007 Pages 18–19, 42, 45. ling Life of Henry Every. London: Tempus Publishing. ISBN 978-0-7524-4718-6. [38] Langdon, Marcus; “Penang: The Fourth Presidency of In- dia 1805–1830, Volume One: Ships, Men and Mansions”, [22] “The British East India Company—the Company that Areca Books, 2013. ISBN 978-967-5719-07-3 Owned a Nation. George P. Landow". [39] “Kapur”. [23] Thomas, P. D. G. (2008) "Pratt, Charles, first Earl Cam- den (1714–1794)", Oxford Dictionary of National Biog- [40] http://www.legislation.gov.uk/ukpga/Will4/3-4/85/ raphy, Oxford University Press, online edn, accessed 15 section/112 February 2008 (subscription or UK public library mem- bership required) [41] M. Laxhimikanth, Public Administration, TMH, Tenth Reprint, 2013 [24] SALTPETER the secret salt – Salt made the world go round [42] Laxhimikanth, Public Administration, TMH, Tenth Reprint, 2013 [25] Company incursion, Manila 1762–1763. See the Bib. for the citation of Sirs Draper and Cornish; see also Cushner’s [43] David, Saul (4 September 2003). The Indian Mutiny: citation at the Wayback Machine (archived July 10, 2004). 1857 (4th ed.). London: Penguin. ISBN 0141005548. 17

[44] East India Stock Dividend Redemption Act 1873 (36 & 37 • Bowen, H. V. (1991). Revenue and Reform: The In- Vict. 17) s. 36: “On the First day of June One thousand dian Problem in British Politics, 1757–1773. Cam- eight hundred and seventy-four, and on payment by the bridge, U.K.: Cambridge University Press. ISBN East India Company of all unclaimed dividends on East 0-521-40316-2. India Stock to such accounts as are herein-before men- tioned in pursuance of the directions herein-before con- • Bowen, H. V. (2003). Margarette Lincoln; Nigel tained, the powers of the East India Company shall cease, Rigby, eds. The Worlds of the East India Company. and the said Company shall be dissolved.” Where possi- Rochester, NY: Brewer. ISBN 0-85115-877-3.; 14 ble, the stock was redeemed through commutation (i.e. essays by scholars exchanging the stock for other securities or money) on terms agreed with the stockholders (ss. 5–8), but stock- • Brenner, Robert (1993). Merchants and Revolu- holders who did not agree to commute their holdings had tion: Commercial Change, Political Conflict, and their stock compulsorily redeemed on 30 April 1874 by London’s Overseas Traders, 1550–1653. Prince- payment of £200 for every £100 of stock held (s. 13). ton, NJ: Princeton University Press. ISBN 0-691- 05594-7. [45] Farrington 1976, pp. 125–32. • Carruthers, Bruce G. (1996). City of Capital: Poli- [46] “East India Club”. tics and Markets in the English Financial Revolution. [47] “Bringing back John Company”. Princeton, NJ: Princeton University Press. ISBN 978-0-691-04455-2. [48] “The Company that ruled the waves”, in The Economist, • 17–30 December 2011, p. 111. Chaudhuri, K. N. (1965). The English East India Company: The Study of an Early Joint-Stock Com- [49] Dalrymple, William (4 March 2015). “The East India pany, 1600–1640. London: Cass. Company: The original corporate raiders”. The Guardian. Retrieved 6 June 2015. • Chaudhuri, K. N. (1978). The Trading World of Asia and the English East India Company, 1660– [50] Davis, Mike. Late Victorian Holocausts. New York 1760. Cambridge, U.K.: Cambridge University Times. Retrieved 6 June 2015. Press. ISBN 0-521-21716-4. [51] Moxham, Roy. “Lecture: THE EAST INDIA COM- • Chaudhury, S. (1999). Merchants, Companies, and PANY'S SEIZURE OF BENGAL AND HOW THIS Trade: Europe and Asia in the Early Modern Era. LED TO THE GREAT BENGAL FAMINE OF 1770”. London: Cambridge University Press. You Tube. Brick Lane Circle. Retrieved 6 June 2015. • Farrington (ed.), Anthony (1976). The Records of [52] Fawcett, Charles (2013-07-30). Rob Raeside, ed. “The the East India College, Haileybury, & other institu- Striped Flag of the East India Company, and its Connex- tions. London: H.M.S.O. ion with the American “Stars and Stripes"". • Farrington, Anthony (2002). Trading Places: The [53] “East India Company”. Hubert . Retrieved 10 East India Company and Asia, 1600–1834. London: February 2014. British Library. ISBN 0-7123-4756-9. [54] Sutton, Jean (1981) Lords of the East: The East India • Furber, Holden. John Company at Work: A study of Company and Its Ships. London: Conway Maritime European Expansion in India in the late Eighteenth [55] A2A – Access to Archives Home century (Harvard University Press, 1948) • Furber, Holden (1976). Rival Empires of Trade in [56] Farrington (ed.), Anthony (1999). Catalogue of East India Company ships’ journals and logs: 1600–1834. London: the Orient, 1600–1800. Minneapolis: University of British Library. ISBN 0-7123-4646-5. Minnesota Press. ISBN 0-8166-0787-7. • [57] Farrington 1976. Harrington, Jack (2010), Sir John Malcolm and the Creation of British India, New York: Palgrave Macmillan., ISBN 978-0-230-10885-1 16 Bibliography • Keay, John (2010). The Honourable Company: A History of the English East India Company. Harper- Collins UK. ISBN 978-0-00-739554-5. Retrieved • Sharpe, Brandon (April 23, 2015). “Selden Map At- 24 September 2011. las”. Thinkingpast.com. Retrieved April 28, 2015. • Lawson, Philip (1993). The East India Company: A • Andrews, Kenneth R. (1985). Trade, Plunder, and History. London: Longman. ISBN 0-582-07386-3. Settlement: Maritime Enterprise and the Genesis of the British Empire, 1480–1630. Cambridge, U.K.: • Misra, B.B. . The Central Administration of the East Cambridge University Press. ISBN 0-521-25760-3. India Company, 1773-1834 (1959) online 18 17 EXTERNAL LINKS

• O'Connor, Daniel (2012). The Chaplains of the East • Dalrymple, William (March 2015). The East India India Company, 1601–1858. London: Continuum. Company: The original corporate raiders. “For a ISBN 978-1-4411-7534-2. century, the East India Company conquered, subju- gated and plundered vast tracts of south Asia. The • Philips, C. H. The East India Company 1784 - 1834 lessons of its brutal reign have never been more rel- (2nd ed. 1961), on its internal workings evant.” The Guardian • Riddick, John F. The history of British India: a chronology (2006) excerpt and text search, covers 1599–1947 17 External links • Riddick, John F. Who Was Who in British India • (1998), covers 1599–1947 Charter of 1600 • • Ruffner, Murray (April 21, 2015). “Selden Map At- las”. Thinking Past. Retrieved April 28, 2015. • East India Company on In Our Time at the BBC. • Risley (ed.), Sir Herbert H.; et al. (1908), The In- (listen now) dian Empire: Historical, Imperial Gazetteer of India • Seals and Insignias of East India Company 2, Oxford: Clarendon Press, under the authority of H.M. Secretary of State for India • The Secret Trade The basis of the monopoly.

• Risley (ed.), Sir Herbert H.; et al. (1908), The In- • Trading Places – a learning resource from the British dian Empire: Administrative, Imperial Gazetteer of Library India 4, Oxford: Clarendon Press, under the author- ity of H.M Secretary of State for India • Port Cities: History of the East India Company • Robins, Nick (2006). The Corporation that Changed • Ships of the East India Company the World: How the East India Company Shaped the • Plant Cultures: East India Company in India Modern Multinational. London: Pluto Press. ISBN 0-7453-2524-6. • The British East India Company

• Sen, Sudipta (1998). Empire of Free Trade: The • History and Politics: East India Company East India Company and the Making of the Colonial Marketplace. Philadelphia: University of Pennsyl- • Nick Robins, “The world’s first multinational”, 13 vania Press. ISBN 978-0-8122-3426-8. December 2004, New Statesman • Steensgaard, Niels (1975). The Asian Trade Rev- • East India Company: Its History and Results arti- olution of the Seventeenth Century: The East India cle by Karl Marx, MECW Volume 12, p. 148 in Companies and the Decline of the Caravan Trade. Marxists Internet Archive Chicago: University of Chicago Press. ISBN 0-226- • 77138-5. Text of East India Company Act 1773 • • STern, Philip J. The Company-State: Corporate Text of East India Company Act 1784 Sovereignty and the Early Modern Foundations of the • “The East India Company – a corporate route to Eu- British Empire in India (2011) online rope” on BBC Radio 4's In Our Time featuring Huw • Sutherland, Lucy S. (1952). The East India Bowen, Linda Colley and Maria Misra Company in Eighteenth-Century Politics. Oxford: • HistoryMole Timeline: The British East India Com- Clarendon Press. pany • Dirks, Nicholas (2006). The Scandal of Empire: India and the creation of Imperial Britain. Cam- bridge, Massachusetts, London, England: The Belk- nap Press of Harvard University Press. ISBN 0-674- 02166-5. • Robins, Nick (December 2004). The world’s first multinational, in the New Statesman • Williams, Roger (2015). London’s Lost Global Gi- ant: In Search of the East India Company. London: Bristol Book Publishing. ISBN 978-0-9928466-2- 6. 19

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18.2 Images

• File:"Capture_of_the_King_of_Delhi_by_Captain_Hodson”.jpg Source: https://upload.wikimedia.org/wikipedia/commons/d/d0/ %22Capture_of_the_King_of_Delhi_by_Captain_Hodson%22.jpg License: Public domain Contributors: • A print from THE INDIAN EMPIRE by R. Montgomery MARTIN - Published in London and New York. c. 1860 Original artist: Robert Montgomery Martin • File:Addiscombe_Seminary_photo_c.1859.jpg Source: https://upload.wikimedia.org/wikipedia/commons/3/31/Addiscombe_ Seminary_photo_c.1859.jpg License: Public domain Contributors: Original publication: Published in H.M. Vibart, Addiscombe: its heroes and men of note (1894) Immediate source: H.M. Vibart, Addiscombe: its heroes and men of note (Westminster, 1894) Original artist: Unknown (Life time: Unknown, photo c1859) • File:Bodleian_Library_MS._Jap._b.2_Shuinjo.jpg Source: https://upload.wikimedia.org/wikipedia/commons/1/1e/Bodleian_ Library_MS._Jap._b.2_Shuinjo.jpg License: CC BY 4.0 Contributors: The Bodleian Library, Original artist: Shogun Tokugawa Ieyasu • File:Boston_Tea_Party_Currier_colored.jpg Source: https://upload.wikimedia.org/wikipedia/commons/5/52/Boston_Tea_Party_ Currier_colored.jpg License: Public domain Contributors: http://www.octc.kctcs.edu/mmaltby/his108/Boston%20Tea%20Party.jpg Original artist: Nathaniel Currier • File:British_Empire_1897.jpg Source: https://upload.wikimedia.org/wikipedia/commons/2/28/British_Empire_1897.jpg License: Pub- lic domain Contributors: Cambridge University Library Original artist: Unknown • File:Clive.jpg Source: https://upload.wikimedia.org/wikipedia/commons/4/4f/Clive.jpg License: Public domain Contributors: http://www.sterlingtimes.org/memorable_images56.htm (http://www.sterlingtimes.org/clive_of_india.jpg) NPG link: http://www.npg.org.uk/collections/search/portrait/mw01347/Robert-Clive-and-Mir-Jafar-after-the-Battle-of-Plassey-1757

Original artist: Francis Hayman • File:Coat_of_arms_of_the_East_India_Company.svg Source: https://upload.wikimedia.org/wikipedia/commons/2/23/Coat_ of_arms_of_the_East_India_Company.svg License: CC BY-SA 3.0 Contributors: Own work, based upon [1] Original artist: TRAJAN 117 • File:Coins_issued_by_East_India_Company_during_reign_of_Shah_Alam_II,_Indian_Museum,_Kolkata.jpg Source: https://upload.wikimedia.org/wikipedia/commons/e/e4/Coins_issued_by_East_India_Company_during_reign_of_Shah_Alam_II% 2C_Indian_Museum%2C_Kolkata.jpg License: CC BY-SA 4.0 Contributors: Own work Original artist: Royroydeb • File:Commons-logo.svg Source: https://upload.wikimedia.org/wikipedia/en/4/4a/Commons-logo.svg License: ? Contributors: ? Original artist: ? • File:Destroying_Chinese_war_junks,_by_E._Duncan_(1843).jpg Source: https://upload.wikimedia.org/wikipedia/commons/8/89/ Destroying_Chinese_war_junks%2C_by_E._Duncan_%281843%29.jpg License: Public domain Contributors: http://ocw.mit.edu/ ans7870/21f/21f.027/opium_wars_01/ow1_gallery/pages/1841_0792_nemesis_jm_nmm.htm Original artist: Edward Duncan (1803– 1882) • File:East_India_Company_silver_coin_issued_during_William_IV’{}s_reign.jpg Source: https://upload.wikimedia.org/wikipedia/ commons/c/ca/East_India_Company_silver_coin_issued_during_William_IV%27s_reign.jpg License: CC BY-SA 4.0 Contributors: Own work Original artist: Royroydeb 18.2 Images 21

• File:East_India_House_THS_1817_edited.jpg Source: https://upload.wikimedia.org/wikipedia/commons/8/88/East_India_House_ THS_1817_edited.jpg License: Public domain Contributors: ? Original artist: Thomas H. Shepherd • File:East_India_House_by_Thomas_Malton_the_Younger.jpg Source: https://upload.wikimedia.org/wikipedia/commons/4/40/ East_India_House_by_Thomas_Malton_the_Younger.jpg License: Public domain Contributors: Center for British Art [1] Original artist: Thomas Malton the Younger (1748-1804) • File:Factory_1b.svg Source: https://upload.wikimedia.org/wikipedia/commons/b/b6/Factory_1b.svg License: CC-BY-SA-3.0 Contribu- tors: PNG version on the English Wikipedia Original artist: Dtbohrer, updated to SVG by Tomtheman5 • File:Flag_of_the_British_East_India_Company_(1801).svg Source: https://upload.wikimedia.org/wikipedia/commons/c/c0/Flag_ of_the_British_East_India_Company_%281801%29.svg License: Public domain Contributors: No machine-readable source provided. Own work assumed (based on copyright claims). Original artist: No machine-readable author provided. Yaddah assumed (based on copy- right claims). • File:Folder_Hexagonal_Icon.svg Source: https://upload.wikimedia.org/wikipedia/en/4/48/Folder_Hexagonal_Icon.svg License: Cc-by- sa-3.0 Contributors: ? Original artist: ? • File:IndiaPolitical1893ConstablesHandAtlas.jpg Source: https://upload.wikimedia.org/wikipedia/en/9/90/ IndiaPolitical1893ConstablesHandAtlas.jpg License: PD-US Contributors: http://books.google.com/books?id=-kAuAAAAYAAJ Original artist: John Bartholomew and Co., Edinburgh • File:India_1835_2_Mohurs.jpg Source: https://upload.wikimedia.org/wikipedia/commons/7/75/India_1835_2_Mohurs.jpg License: Public domain Contributors: National Numismatic Collection, National Museum of American History Original artist: National Museum of American History • File:Indiaman_Royal_George.jpg Source: https://upload.wikimedia.org/wikipedia/commons/c/c1/Indiaman_Royal_George.jpg Li- cense: Public domain Contributors: The National Maritime Museum Original artist: Francis Holman • File:Jahangir_investing_a_courtier_with_a_robe_of_honour_watched_by_Sir_Thomas_Roe,_English_ambassador_to_the_ court_of_Jahangir_at_Agra_from_1615-18,_and_others.jpg Source: https://upload.wikimedia.org/wikipedia/commons/8/87/ Jahangir_investing_a_courtier_with_a_robe_of_honour_watched_by_Sir_Thomas_Roe%2C_English_ambassador_to_the_court_of_ Jahangir_at_Agra_from_1615-18%2C_and_others.jpg License: Public domain Contributors: http://www.britishmuseum.org/research/ search_the_collection_database/search_object_details.aspx?objectid=231669&partid=1&searchText=mughal&fromADBC=ad& toADBC=ad&numpages=10&images=on&orig=%2fresearch%2fsearch_the_collection_database.aspx¤tPage=43 Original artist: Mughal Style • File:Jameslancaster.jpg Source: https://upload.wikimedia.org/wikipedia/commons/d/df/Jameslancaster.jpg License: Public domain Contributors: http://www.nmm.ac.uk/collections/displayRepro.cfm?reproID=BHC2828#content Original artist: Unknown • File:Major-General_the_Hon._Arthur_Wellesley_being_received_in_durbar_at_the_Chepauk_Palace_Madras_by_Azim_ al-Daula_Nawab_of_the_Carnatic_18th_February_1805.jpg Source: https://upload.wikimedia.org/wikipedia/commons/8/86/ Major-General_the_Hon._Arthur_Wellesley_being_received_in_durbar_at_the_Chepauk_Palace_Madras_by_Azim_al-Daula_Nawab_ of_the_Carnatic_18th_February_1805.jpg License: Public domain Contributors: http://www.bl.uk/onlinegallery/onlineex/apac/other/ 019wdz000004463u00000000.html Original artist: George Chinnery • File:Mocha_Dapper_1680.jpg Source: https://upload.wikimedia.org/wikipedia/commons/d/db/Mocha_Dapper_1680.jpg License: Pub- lic domain Contributors: eBay.com Original artist: Dutch geographer/engraver Olfert Dapper, 1680 • File:Portrait_of_East_India_Company_official.jpg Source: https://upload.wikimedia.org/wikipedia/commons/8/87/Portrait_ of_East_India_Company_official.jpg License: Public domain Contributors: http://collections.vam.ac.uk/item/O16731/ painting-portrait-of-east-india-company/ Original artist: Dip Chand (artist) • File:Potassium_nitrate.jpg Source: https://upload.wikimedia.org/wikipedia/commons/b/b3/Potassium_nitrate.jpg License: Public do- main Contributors: ? Original artist: w:User:Walkerma • File:Question_book-new.svg Source: https://upload.wikimedia.org/wikipedia/en/9/99/Question_book-new.svg License: Cc-by-sa-3.0 Contributors: Created from scratch in Adobe Illustrator. Based on Image:Question book.png created by User:Equazcion Original artist: Tkgd2007 • File:Rear_view_of_the_East_India_Company’{}s_Factory_at_Cossimbazar.jpg Source: https://upload.wikimedia.org/wikipedia/ commons/5/5e/Rear_view_of_the_East_India_Company%27s_Factory_at_Cossimbazar.jpg License: Public domain Contributors: http: //www.bl.uk/onlinegallery/onlineex/apac/addorimss/r/019addor0003193u00000000.html Original artist: Anonymous • File:Reddragonship.jpg Source: https://upload.wikimedia.org/wikipedia/commons/d/d8/Reddragonship.jpg License: Public do- main Contributors: http://books.google.co.uk/books?id=RgA7AAAAIAAJ&pg=PA2&source=gbs_selected_pages&cad=5#v=onepage& q=&f=false Original artist: Unknown • File:Shah_Alam_II,_1790s.jpg Source: https://upload.wikimedia.org/wikipedia/commons/a/a2/Shah_Alam_II%2C_1790s.jpg Li- cense: Public domain Contributors: http://www.columbia.edu/itc/mealac/pritchett/00routesdata/1700_1799/latermughals/shahalam2nd/ shahalam2nd.html Original artist: Unknown • File:Ships_in_Bombay_Harbour,_1731.jpg Source: https://upload.wikimedia.org/wikipedia/commons/4/43/Ships_in_Bombay_ Harbour%2C_1731.jpg License: Public domain Contributors: 1: bl.uk and bl.uk Original artist: Samuel Scott • File:Surrender_of_Tipu_Sultan.jpg Source: https://upload.wikimedia.org/wikipedia/commons/2/24/Surrender_of_Tipu_Sultan.jpg License: Public domain Contributors: National Army Museum Original artist: Robert Home • File:Symbol_book_class2.svg Source: https://upload.wikimedia.org/wikipedia/commons/8/89/Symbol_book_class2.svg License: CC BY-SA 2.5 Contributors: Mad by Lokal_Profil by combining: Original artist: Lokal_Profil 22 18 TEXT AND IMAGE SOURCES, CONTRIBUTORS, AND LICENSES

• File:Tipu_death.jpg Source: https://upload.wikimedia.org/wikipedia/commons/c/c9/Tipu_death.jpg License: Public domain Contribu- tors: http://www.columbia.edu/itc/mealac/pritchett/00routesdata/1700_1799/tipusultan/death/death.html or another reading: http://www. bbc.co.uk/history/british/empire_seapower/tiger_of_mysore_gallery_11.shtml Original artist: Henry Singleton (1766 - 1839) • File:Wiki_letter_w_cropped.svg Source: https://upload.wikimedia.org/wikipedia/commons/1/1c/Wiki_letter_w_cropped.svg License: CC-BY-SA-3.0 Contributors: • Wiki_letter_w.svg Original artist: Wiki_letter_w.svg: Jarkko Piiroinen

18.3 Content license

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