Probus Talk – East India Company

Luke S Degan gave a very interesting and enlightening illustrated talk on the East India Company – The Greatest Organisation.

Luke explained that the British Empire was the largest in history by some considerable amount much larger than the Mughal and Russian empires. He highlighted that the West India Company traded between Europe, Africa and America and was made up of Dutch, French, Danes and Swedes. The East India Company was a maritime powerhouse which at its height accounted for half of all the world’s trade. It was the earliest joint stock company, the very first to issue shares to private investors. Between 1600 and 1874 it undertook over 5000 sailings.

Early expeditions in search of sources of spices were conducted by Vasco de Gama and Sir Francis Drake amongst others. The company was granted a Royal Charter on the last day of 1600 by Queen Elizabeth the First. Many of the early expeditions went to the far off Spice Islands where the Dutch, Spanish and Portuguese had already established themselves. The trade in cloves, nutmeg, mace cinnamon and especially pepper was highly lucrative. Trade with the Mughal Empire, current day India, was centred around Bombay, Madras and Calcutta where the first British outposts were established. Trade was primarily in diamonds, gems, textiles, indigo, pepper and saltpetre. The company subsequently expanded into both China and Japan trading in porcelain, tea, silk and opium. In monetary terms the East India Company dwarfed today’s most successful multinationals with trade accounting for £45 trillion in present day money. Initial investors realised a 5000% return on their investment!! The company was dissolved in 1858 but left a lasting legacy especially on the Indian sub continent especially with the huge rail network, the legal system, the English language and the love of the game of cricket.

Henley Probus meets at Badgemore Park on the second Tuesday of each month; it starts with an informal gathering of its members (plus Visitors) for a discussion and coffee, with the formal meeting commencing at 1130 followed by a lunch.

If anyone is interested in joining the Club, please visit our website https://henleymensprobus.org.uk/contact-us/  or make themselves known to Roger Griffiths ,our Membership Secretary on 01491575137, email regriffiths44@gmail.com or to any Club member that you may know.

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