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Charted Companies.docx

9 Pages
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Department
History
Course Code
History 1803E
Professor
Bob Larose

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Rana The fall of Constantinople at the hands of the Turks in 1453 resulted in the demise of oriental trade as the spread of Islam in the East took a strong foothold This led to the first voyages in discovering a safer and more direct trade route to China across the Atlantic led by the Spanish backed Christopher Columbus who discovered the Americas Five years passed when another sailor Vasco Da Gama under the authority of the Portuguese set sail to the east 1and discovered an alternate trade route to India These discoveries would change the geography as the European countries set out for the purpose of trade and exploration and eventually colonization As the countries in Europe prepared for further exploration of the East Indies the Mughal Empire led by Prince Babur a descendant of both Timur of central Asia and Gengis Khan of the far east set up base in Kabul and went on to conquer a majority 2 of the Asian subcontinent This led to the creation of Charted Companies companies who had charters that would grant them the sovereign authority of the state but was bound by certain obligations and often resulted in a trading monopoly in a specific geographic region or a specific good for trade As a result trade between the different empires was regulated and avoided controversy As voyages to the New World sanctioned by the Dutch English and French thcountries increased in the late 16 century Chartered Companies started to take on a more authoritative role and would often oversee trading ventures that would maintain overseas influence whilst undertaking the expenses of ambassadors and preserving International Relations This culminated on the final day of 1600 where a jointstock organization an establishment where shareholders put forth capital who in turn received profits from the joint enterprise in the East Indies The Governor and Company of Merchants of London Trading into the East Indies was formed This British Establishment coupled with the formation of the Dutch East India Company two years later among others signaled a change in global trade 1 McCusker John J History of world trade since 1450 Farmington Hills MI Thomson Gale 2006 2 Sen Sudipta Empire of free trade the East India Company and making of the colonial marketplace Philadelphia University of Pennsylvania Press 1998 1
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