Cassell's History of England, Vol. 3 (of 8): From the Great Rebellion to the Fall of Marlborough.Anonymous
History
Cassell's History of England, Vol. 3 (of 8): From the Great Rebellion to the Fall of Marlborough.
Anonymous
Great Britain -- History
their envious malice, for in 1623 they committed the notorious massacre
of the English Company at Amboyna, and drove the English out of all
the Spice Islands. Had this occurred in Cromwell's days, they would
soon have paid a severe retribution; but James was just then anxious to
secure the aid of the Dutch in restoring his son-in-law, the Elector
Palatine, and these atrocities were quietly smoothed over, and left
unavenged. The consequence was, that the affairs of the Company fell
into a most depressed condition, and though in 1616, when their stock
was worth 200 per cent., they had raised a new stock of one million
six hundred and twenty-nine thousand and forty pounds, which was taken
by nine hundred and fifty-four individuals, principally of the higher
aristocracy, at the close of James's reign the stock had fallen to half
its value.
Charles was not a more far-sighted or a juster patron of the India
Company than his father. In 1631 they managed to raise a new stock
of four hundred and twenty thousand pounds, but whilst they were
struggling with the hostilities of their rivals, the Dutch and
Portuguese, the king perpetrated precisely the same injury on them that
his father had done, by granting a charter to another company, which
embroiled them with the Mogul and the Chinese, causing the English to
be entirely expelled from China, and injuring the India Company to a
vast extent. The Civil War in England then prevented the attention
of the Government from being directed to the affairs of this great
Company. At the end of Charles's reign the Company's affairs were at
the worst, and its trade appeared extinct. In 1649, however, Parliament
encouraged the raising of new stock, which was done with extreme
difficulty, and only amounted to one hundred and ninety-two thousand
pounds. But in 1654, Parliament having humbled the Dutch, compelled
them to pay a balance of damages of eighty-five thousand pounds and
three thousand six hundred pounds to the heirs of the murdered men at
Amboyna. It required years, however, to revive the prosperity of the
Company, and it was only in 1657 that, obtaining a new charter from
the Protector, and raising a new stock of three hundred and seventy
thousand pounds, it sprang again into vigour and traded successfully
till the Restoration.
Public-domain text, read in full here on John Shaqi.
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