British east india

Why was the East India Company established?

East india company owner

Willson , H. Granted a Royal Charter by Queen Elizabeth in , it became one of the most powerful mercantile organizations in the world by maintaining a monopoly on the importation of exotic goods notably cotton, tea, and silk from India into Britain. Colonists objected to the Tea Act because it violated their right to be taxed only by their own elected representatives. The East India Company was incorporated by royal charter on December 31, Returned nabobs like Clive used their wealth to buy both MPs and parliamentary seats — the famous Rotten Boroughs. This led to the Boston Tea Party in which protesters boarded British ships and threw the tea overboard. Yet, in reality, British relations with India began not with diplomacy and the meeting of envoys, but with trade.

But Britain wanted in, and when it seized the ships of the defeated Spanish Armada init paved the way for the monarchy to become a serious naval power. The opinion asserted that, while the Crown of Great Britain enjoyed sovereignty over both, only the property of the former was vested in the Crown.

british east india company impact

It also traded cotton, silk, indigo, saltpeter, and tea and transported slaves. The navy also grew significantly, vastly expanding its fleet.

British east india company flag

Why was the East India Company established? To appease Aurangzeb, the East India Company promised to pay all financial reparations, while Parliament declared the pirates hostis humani generis "enemies of the human race". As late as , when Clive was only 14 years old, the Mughals still ruled a vast empire that stretched from Kabul to Madras. When knowledge of this became public, 30 banks collapsed like dominoes across Europe, bringing trade to a standstill. Jahangir, who had a taste for exotica and wild beasts, welcomed Sir Thomas Roe with the same enthusiasm he had shown for the arrival of the first turkey in India, and questioned Roe closely on the distant, foggy island he came from, and the strange things that went on there. See studies by B. The destruction of Mughal power by Nadir Shah, and his removal of the funds that had financed it, quickly led to the disintegration of the empire. For 40 minutes we drifted slowly, the water gently lapping against the sides of the boat, past the mile-long succession of mighty towers and projecting bastions of the fort, each decorated with superb Mughal kiosks, lattices and finials.

Thanks to a treaty in with the Mughal emperor Jahangir, it established its first factory in Surat in what is now western India. The company continued to control commercial policy and lesser administration, but the British government became increasingly the effective ruler of India.

Napoleon Bonaparte, exiled to the island inremarked on the fine quality of St Helena coffee, and allegedly even asked for it as his dying wish.

Although the East India Company was bailed out by the British government, harsh criticism and investigations by parliamentary committees led to government oversight of its management the Regulating Act of and later to government control of political policy in India the India Act of

British east india

The reasons for this were two-fold. It was not the British government that seized India at the end of the 18th century, but a dangerously unregulated private company headquartered in one small office, five windows wide, in London, and managed in India by an unstable sociopath — [Robert] Clive. When the news arrived in England it caused an outcry. The East India Company may have since been overshadowed by modern capitalism, but its legacy is still felt around the world. Beginning in the early 19th century, the East India Company illegally sold opium to China to finance its purchases of Indian tea and other goods. It had established its first factory at Machilipatnam in , and it gradually acquired unequaled trade privileges from the Mughal emperors. It became involved in politics and acted as an agent of British imperialism in India from the early 18th century to the midth century. This was a potentially massive market for the Company, but was held back by the fact that the Chinese only traded their tea for silver. But in that year, the Persian adventurer Nadir Shah descended the Khyber Pass with , of his cavalry and defeated a Mughal army of 1. To check the exploitative practices of the company and to gain a share of revenues, the British government intervened and passed the Regulating Act , by which a governor-general of Bengal whose appointment was subject to government approval was given charge of all the company's possessions in India. It accomplished a work such as in the whole history of the human race no other Company ever attempted and as such, is ever likely to attempt in the years to come. It was the nearest the British ever got to putting the EIC on trial, and they did so with one of their greatest orators at the helm — Edmund Burke. When knowledge of this became public, 30 banks collapsed like dominoes across Europe, bringing trade to a standstill.
Rated 8/10 based on 113 review
Download
British East India Company