The East Indies Flashcards
why were spices attractive?
transport costs were high
spices had a high value relative to their weight
they could not be produced in Europe
used to mask the taste of preserved meat
how did imported spice sell at a high price?
he imported spice was re-exported to the rest of Europe at a high price
what was the easiest way to encourage trade or industry?
by granting a monopoly- importing new commodities were too risky for individuals
it also rewarded courtiers who did not get salaries
when were monopolies to individuals prohibited? why?
1624- it was seen as an abuse
members of what company formed the East India Company?
the Levant company
when was the Dutch EIC launched?
1602 with 500k in capital
what occurred in Amboyna 1623?
the Dutch did not want to trade with the English, the EIC base in Amboyna (Spice Islands) were overrun by the Dutch and 10 employees were massacred
what year and where did the EIC start trading? why was it convenient?
1605, Surat
convenient for trade with Persia and diplomatic contact with the Mogul emperor
what did they trade? what was it not as valuable as?
traded pepper but it was not as valuable as nutmeg and cloves from the Spice Islands
how did the Mogul empire and EIC remain on good terms?
in return for the protection of the EIC factories in Agra, the EIC had armed ships ready to displace the Portuguese who had control of the Indian ocean and local pirates
why did trade slump?
famine in Gujarat in 1630 and when Charles I allowed the Courteen family trading rights in India
what were the company’s most important bases at the time?
Surat 1611, Madras 1642
kept going even when the company’s stock sunk to 60% of its original price
