Trace the efforts of British Parliament to curb East India Company's undrestrained commercial activities are bring order in newly acquired territories.s
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At its outset the East India Company was interested in the commercial opportunities offered by the spice islands of Southeast Asia rather than India. However cargoes of Indian cloth sparked growing interest amongst consumers in England. The Company also shipped Chinese merchandise from Canton (Guangzhou): tea, silk, textiles and porcelain. Asian commodities were paid for with exported British woollens and metals, supplemented by silver bullion.
FACTORIES
The Company’s operations were underpinned by the ‘factory’ system: when the ships returned to Europe, agents known as ‘factors’ were left behind at trading posts to negotiate with local merchants for the sale of current stocks of goods and the procurement of return cargoes for the next year’s voyage.
Company business was overseen by a central administration in London based around the twenty-four elected members of the Court of Directors and a number of specialized committees of the Court. The directors were answerable to the Company shareholders who met regularly at the General Court of Proprietors. The Company sent commercial, political and administrative instructions on its ships to the councils established at its main settlements in Asia, and these councils were in turn responsible for the management of subordinate factories which included Bandar Abbas and Basra.
FACTORIES
The Company’s operations were underpinned by the ‘factory’ system: when the ships returned to Europe, agents known as ‘factors’ were left behind at trading posts to negotiate with local merchants for the sale of current stocks of goods and the procurement of return cargoes for the next year’s voyage.
Company business was overseen by a central administration in London based around the twenty-four elected members of the Court of Directors and a number of specialized committees of the Court. The directors were answerable to the Company shareholders who met regularly at the General Court of Proprietors. The Company sent commercial, political and administrative instructions on its ships to the councils established at its main settlements in Asia, and these councils were in turn responsible for the management of subordinate factories which included Bandar Abbas and Basra.
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