T4: East India Company Flashcards
(17 cards)
when was the EIC established?
1600
when was the company’s first trading post established in India?
1613
when did English trade activity in the East Indies end?
1623
what happened after the company’s activity in the East Indies ended?
focused switched to India
when did Portugal’s monopoly over trade in India break?
early 1600s
when did the first shipment of saltpetre arrive in England?
1626
when was a trading post in Madras established?
1633
what did Madras become the centre for trade in?
calico
where was the centre for trade of calico?
Madras
when was the company’s charter withdrawn and by who?
1657 Cromwell
why was the EIC’s charter withdrawn 1657?
suspicion of royalist sympathies
when was the company’s charter restored?
1660
why were financial irregularities overlooked by the gov?
the company made loans to the Crown e.g. £10k 1660, £50k 1667
what fact highlights the importance of the IEC?
1672 - given permission to mint coins in India
also English subjects in India subject to authority of EIC
when was the EIC given permission to mint coins in India?
1672
how did the profits of the IEC compare to those of the sugar and tobacco trades of the Caribbean and N America by 1688?
equally if not exceeded
what was a common annual profit for the company in the 1680s?
£600,000
