Dutch East India Company – Wikipedia

1592–1799 dutch trade company

The “ United East India Company ”, or “ United East Indies Company ” ( besides known by the abbreviation “ VOC ” in Dutch ) was the inspiration of Johan van Oldenbarnevelt, the leading statesman of the Dutch Republic . Amsterdam VOC HQ

Duyfken under sailReplica of the VOC shipunder sail The Dutch East India Company, formally the United East India Company ( dutch : Vereenigde Oost Indische Compagnie ; [ f ] VOC ), was a multinational corporation founded by a government -directed consolidation of several rival Dutch trade companies ( voorcompagnieën ) in the early on seventeenth hundred. It is believed to be the largest ship’s company to ever have existed in record history. [ 9 ] [ 10 ] It was established on March 20, 1602, as a charter company to trade with Mughal India [ 11 ] [ disputed – discuss ] in the early mod period, from which 50 % of textiles and 80 % of silks were imported, chiefly from its most explicate area known as Bengal Subah. [ 12 ] [ 13 ] [ 14 ] [ 15 ] [ 16 ] In summation, the ship’s company traded with Indianised Southeast asian countries when the dutch government granted it a 21-year monopoly on the Dutch zest trade. The company has been often labelled a trading company ( i.e. a company of merchants who buy and sell goods produced by early people ) or sometimes a transport company. however, the VOC was in fact an early-modern corporate model of vertically integrated ball-shaped supply chain [ 2 ] [ 5 ] and a proto- pudding stone, diversifying into multiple commercial and industrial activities such as international deal ( specially intra-Asian deal ), [ 1 ] [ 17 ] [ 18 ] [ 19 ] [ 20 ] [ 21 ] shipbuilding, and both production and trade of East indian spices, [ 2 ] indonesian chocolate, Formosan sugarcane, [ 3 ] [ 4 ] and confederacy african wine. [ 5 ] [ 6 ] [ 7 ] The caller was a transcontinental employer and a corporate initiate of outbound extraneous direct investment in the early modern earth. At the dawn of modern capitalism, wherever Dutch capital went, urban features were developed, economic activities expanded, new industries established, modern jobs created, trading companies operated, swamps drained, mines opened, forests exploited, canals constructed, mills turned, and ships were built. [ 22 ] [ 23 ] [ 24 ] [ 25 ] [ 26 ] In the early modern menstruation, the Dutch were pioneering investors and capitalists who raised the commercial and industrial electric potential of underdeveloped or unexploited lands whose resources they exploited, whether for better or worse. For exemplar, the native economies of pre-VOC-era Taiwan and South Africa were largely rural. It was VOC employees who established and developed the first modern urban areas in the history of Taiwan ( Tainan ) and South Africa ( Cape Town and Stellenbosch ) .
[27][28][29] laid the foundations for the rise of modern-day global corporations and [30] Founded in 1602, the Dutch East India Company ( VOC ), started off as a spice trader. In the like class, the VOC undertook the global ‘s first base recorded IPO. “ Going populace “ enabled the company to raise the huge summarize of 6.5 million guilders promptly. The VOC ‘s institutional innovations and business practiceslaid the foundations for the ascend of contemporary global corporations and capital markets that now dominate the populace ‘s economic systems. In the early on 1600s, by wide issuing bonds and shares to the cosmopolitan public, [ g ] VOC became the world ‘s first formally listed public company. [ planck’s constant ] [ i ] [ 32 ] [ 33 ] [ 34 ] [ 35 ] [ full citation needed ] [ 36 ] [ 37 ] [ 38 ] With its pioneering institutional innovations and herculean roles in global business history, the caller is often considered by many to be the harbinger of modern corporations. In many respects, contemporary corporations are all the ‘direct descendants ‘ of the VOC model. [ 28 ] [ full citation needed ] [ 39 ] [ 40 ] [ 41 ] [ 42 ] [ full citation needed ] Its 17th-century institutional innovations and business practices laid the foundations for the rebel of giant ball-shaped corporations in subsequent centuries [ 27 ] [ 28 ] [ 29 ] [ 43 ] – as a highly significant and formidable socio-politico-economic impel of the contemporary worldly concern [ 44 ] [ 45 ] [ 46 ] [ 47 ] [ 48 ] – to become the dominant factor in about all economic systems today. It besides served as the directly model for the organizational reconstruction of the English/British East India Company in 1657. [ 49 ] [ 50 ] [ 51 ] [ 52 ] [ 38 ] [ 53 ] The company, for about 200 years of its universe ( 1602–1800 ), had effectively transformed itself from a corporate entity into a department of state or an empire in its own right. [ j ] One of the most influential and extensively researched business enterprises in history, the VOC ‘s world has been the national of a huge total of literature that includes both fabrication and nonfiction works .
The ship’s company was historically an exemplary company-state [ kilobyte ] preferably than a pure for-profit pot. primitively a government-backed military-commercial enterprise, the VOC was the wartime inspiration of leading dutch republican statesman Johan van Oldenbarnevelt and the States-General. From its origin in 1602, the company was not only a commercial enterprise but besides efficaciously an instrument of war in the young Dutch Republic ‘s revolutionist global war against the powerful spanish empire and Iberian Union ( 1579–1648 ). In 1619, the party forcibly established a cardinal position in the Javanese city of Jayakarta, changing the appoint to Batavia ( contemporary Jakarta ). Over the adjacent two centuries the company acquired extra ports as trade bases and safeguarded their interests by taking over surrounding district. [ 57 ] To guarantee its supply, the ship’s company established positions in many countries and became an early pioneer of outbound alien aim investment. [ l ] In its foreign colonies, the VOC possessed quasi-governmental powers, including the ability to wage war, imprison and execute convicts, [ 61 ] negociate treaties, strike its own coins, and establish colonies. [ 62 ] With the increasing importance of foreign posts, the ship’s company is frequently considered the world ‘s first true multinational pot. [ m ] [ 63 ] Along with the dutch West India Company ( WIC/GWIC ), the VOC was seen as the international weapon of the Dutch Republic and the symbolic power of the Dutch Empire. To further its trade routes, the VOC-funded exploratory voyages, such as those led by Willem Janszoon ( Duyfken ), Henry Hudson ( Halve Maen ), and Abel Tasman, revealed largely nameless landmasses to the western world. In the Golden Age of Netherlandish mapmaking ( c. 1570s–1670s ), VOC navigators and cartographers helped shape geographic cognition of the worldly concern as we know it today. Socio-economic changes in Europe, the shift in ability balance, and less successful fiscal management resulted in a dull descent of the VOC between 1720 and 1799. After the financially black Fourth Anglo-Dutch War ( 1780–1784 ), the company was nationalised in 1796, [ 64 ] and ultimately dissolved on 31 December 1799. All assets were taken over by the government with VOC territories becoming dutch politics colonies .

company mention, logo, and flag [edit ]

[65][39] In terms of creating and sustaining an effective corporate identity ( or corporate culture ), the United East India Company ( VOC ) was a successful early pioneer at the dawn of modern capitalism . seventeenth hundred plaque to Dutch East India Company ( VOC ), Hoorn The logo of the Amsterdam Chamber of the VOC In Dutch, the list of the company is Vereenigde Oostindische Compagnie or Verenigde Oost-Indische Compagnie, literally the “ United East indian Company ”, which is abbreviated to VOC. The ship’s company ‘s monogram logo consisted of a large capital ‘V ‘ with an O on the leave and a C on the right half and was possibly the first globally acknowledge corporate logo. [ 39 ] It appeared on respective bodied items, such as cannons and coins. The first letter of the hometown of the chamber conducting the operation was placed on top. The monogram, versatility, flexibility, clearness, ease, symmetry, eternity, and symbolism are considered celebrated characteristics of the VOC ‘s professionally designed logo. Those elements ensured its achiever at a time when the concept of the corporate identity was about obscure. [ 39 ] [ 65 ] [ 66 ] An australian vintner has used the VOC logo since the late twentieth century, having re-registered the company ‘s appoint for the purpose. [ 67 ] The flag of the caller was crimson, white, and blue, with the company logo embroidered on it. [ citation needed ] Around the worldly concern, and specially in english-speaking countries, the VOC is wide known as the ‘Dutch East India Company ‘. The diagnose ‘Dutch East India Company ‘ is used to make a distinction from the [ British ] East India Company ( EIC ) and other East indian companies ( such as the Danish East India Company, French East India Company, Portuguese East India Company, and the swedish East India Company ). The company ‘s option names that have been used include the ‘Dutch East Indies Company ‘, ‘United East India Company ‘, ‘United East indian Company ‘, ‘United East Indies Company ‘, ‘Jan Company ‘, or ‘Jan Compagnie ‘. [ 68 ] [ 69 ]

history [edit ]

Origins [edit ]

Before the Dutch Revolt, Antwerp had played an important role as a distribution center in northerly Europe. After 1591, however, the Portuguese used an external syndicate of the german Fuggers and Welsers, and spanish and italian firms, that used Hamburg as the northern staple port to distribute their goods, thereby cutting Dutch merchants out of the trade. At the lapp time, the Portuguese deal system was unable to increase supply to satisfy growing demand, in particular the demand for pepper. demand for spices was relatively inelastic ; therefore, each lag in the issue of pepper caused a sharp ascend in pepper prices. In 1580, the Portuguese crown was united in a personal union with the spanish crown, with which the Dutch Republic was at war. The portuguese Empire consequently became an allow target for dutch military incursions. These factors motivated dutch merchants to enter the intercontinental spice craft themselves. Further, a number of Dutchmen like Jan Huyghen vanguard Linschoten and Cornelis de Houtman obtained first base hand cognition of the “ secret ” portuguese trade routes and practices, thereby providing opportunity. [ 70 ]
The stage was therefore set for the four-ship exploratory dispatch by Frederick de Houtman in 1595 to Banten, the main pepper port of West Java, where they clashed with both the Portuguese and autochthonal Javanese. Houtman ‘s expedition then sailed east along the union seashore of Java, losing twelve crew members to a javanese attack at Sidayu and killing a local rule in Madura. Half the crowd were lost before the expedition made it back to the Netherlands the watch year, but with enough spices to make a considerable profit. [ 71 ]
In 1598, an increasing number of fleets were sent out by competing merchant groups from around the Netherlands. Some fleets were lost, but most were successful, with some voyages producing high profits. In March 1599, a fleet of eight ships under Jacob van Neck was the beginning Dutch flit to reach the ‘Spice Islands ‘ of Maluku, cutting out the javanese middlemen. The ships returned to Europe in 1599 and 1600 and the expedition made a 400 percentage profit. [ 71 ] In 1600, the dutch joined forces with the Muslim Hituese on Ambon Island in an anti-Portuguese confederation, in tax return for which the Dutch were given the sole right to purchase spices from Hitu. [ 72 ] Dutch dominance of Ambon was achieved when the Portuguese surrendered their fortress in Ambon to the Dutch-Hituese alliance. In 1613, the Dutch expelled the Portuguese from their Solor fortress, but a subsequent portuguese attack led to a second change of hands ; following this second reoccupation, the dutch once again get Solor in 1636. [ 72 ] East of Solor, on the island of Timor, Dutch advances were halted by an autonomous and mighty group of portuguese Eurasians called the Topasses. They remained in control of the Sandalwood barter and their electric resistance lasted throughout the 17th and 18th centuries, causing portuguese Timor to remain under the Portuguese sector of command. [ 73 ] [ 74 ]

Formative years [edit ]

1627, collection reproduction of a function of the city of Batavia c.1627, collection Tropenmuseum dutch Batavia in 1681, built in what is nowadays North Jakarta At the time, it was customary for a company to be funded alone for the duration of a individual ocean trip and to be liquidated upon the return of the fleet. investment in these expeditions was a very bad venture, not alone because of the usual dangers of piracy, disease and shipwreck, but besides because the interplay of inelastic demand and relatively rubber band provide [ 75 ] of spices could make prices tumble, thereby ruining prospects of profitableness. To manage such risk, the form of a trust to control provision would seem logical. In 1600, the English were the first to adopt this approach by bundling their resources into a monopoly enterprise, the English East India Company, thereby threatening their dutch competitors with ruin. [ 76 ] In 1602, the dutch government followed suit, sponsoring the creation of a single “ United East Indies Company ” that was besides granted monopoly over the asian deal. For a time in the seventeenth century, it was able to monopolise the barter in nutmeg, mace, and cloves and to sell these spices across european kingdoms and Emperor Akbar the Great ‘s Mughal Empire at 14-17 times the price it paid in Indonesia ; [ 77 ] while dutch profits soared, the local economy of the Spice Islands was destroyed. [ why? ] With a capital of 6,440,200 guilders, [ 78 ] the newfangled ship’s company ‘s charter empowered it to build forts, sustain armies, and conclude treaties with asian rulers. It provided for a venture that would continue for 21 years, with a fiscal report alone at the conclusion of each ten. [ 76 ] In February 1603, the company seized the Santa Catarina, a 1500-ton portuguese merchant carrack, off the coast of Singapore. [ 79 ] She was such a rich choice that her sale proceeds increased the capital of the VOC by more than 50 %. [ 80 ] besides in 1603, the first permanent wave dutch trade post in Indonesia was established in Banten, West Java, and in 1611, another was established at Jayakarta ( later “ Batavia ” and then “ Jakarta ” ). [ 81 ] In 1610, the VOC established the stake of Governor-General to more hard control their affairs in Asia. To advise and control the risk of despotic Governors General, a Council of the Indies ( Raad van Indië ) was created. The Governor General efficaciously became the independent administrator of the VOC ‘s activities in Asia, although the Heeren XVII, a body of 17 shareholders representing unlike chambers, continued to formally have overall manipulate. [ 72 ]
The Isle of Amboina, a 17th-century print, probably English, a 17th-century photographic print, probably english VOC headquarters were located in Ambon during the tenures of the first gear three Governors General ( 1610–1619 ), but it was not a satisfactory location. Although it was at the center of the spice production areas, it was army for the liberation of rwanda from the asian deal routes and other VOC areas of natural process ranging from Africa to India to Japan. [ 82 ] [ 83 ] A localization in the west of the archipelago was frankincense sought. The Straits of Malacca were strategic but became dangerous following the portuguese seduction, and the first permanent wave VOC settlement in Banten was controlled by a herculean local anesthetic ruler and capable to rigid competition from Chinese and english traders. [ 72 ] In 1604, a irregular English East India Company ocean trip commanded by Sir Henry Middleton reached the islands of Ternate, Tidore, Ambon and Banda. In Banda, they encountered severe VOC hostility, sparking Anglo-Dutch competition for access to spices. [ 81 ] From 1611 to 1617, the English established trading posts at Sukadana ( southwest Kalimantan ), Makassar, Jayakarta and Jepara in Java, and Aceh, Pariaman and Jambi in Sumatra, which threatened Dutch ambitions for a monopoly on East Indies deal. [ 81 ] In 1620, diplomatic agreements in Europe ushered in a period of co-operation between the Dutch and the English over the spice trade. [ 81 ] This ended with a ill-famed but quarrel incidental known as the ‘ Amboyna massacre ‘, where ten Englishmen were arrested, tried and beheaded for conspiracy against the dutch politics. [ 84 ] Although this cause outrage in Europe and a diplomatic crisis, the English quietly withdrew from most of their indonesian activities ( except trade in Banten ) and focused on other asian interests .

growth [edit ]

Mughal Bengal. Hendrik van Schuylenburgh, 1665 Dutch East India Company factory in Hugli-Chuchura In 1619, Jan Pieterszoon Coen was appointed Governor-General of the VOC. He saw the possibility of the VOC becoming an asian world power, both political and economic. On 30 May 1619, Coen, backed by a force of nineteen ships, stormed Jayakarta, driving out the Banten forces ; and from the ashes established Batavia as the VOC headquarters. In the 1620s about the integral native population of the Banda Islands was driven aside, starved to end, or killed in an undertake to replace them with dutch plantations. [ 85 ] These plantations were used to grow nutmeg for export. Coen hoped to settle boastfully numbers of dutch colonists in the East Indies, but execution of this policy never materialised, chiefly because very few Dutch were volition to emigrate to Asia. [ 86 ] Another of Coen ‘s ventures was more successful. A major problem in the european trade with Asia at the time was that the Europeans could offer few goods that asian consumers wanted, except silver and gold. european traders consequently had to pay for spices with the cute metals, which were in inadequate provide in Europe, except for Spain and Portugal. The Dutch and English had to obtain it by creating a trade excess with other european countries. Coen discovered the obvious solution for the problem : to start an intra-Asiatic trade system, whose profits could be used to finance the spice deal with Europe. In the long race this obviated the need for exports of valued metals from Europe, though at first it required the formation of a large trading-capital fund in the Indies. The VOC reinvested a large parcel of its profits to this end in the period up to 1630. [ 87 ] The VOC traded throughout Asia, benefiting chiefly from Bengal. Ships coming into Batavia from the Netherlands carried supplies for VOC settlements in Asia. Silver and copper from Japan were used to trade with the world ‘s wealthiest empires, Mughal India and Qing China, for silk, cotton, porcelain, and textiles. These products were either traded within Asia for the covet spices or brought back to Europe. The VOC was besides implemental in introducing european ideas and technology to Asia. The company supported christian missionaries and traded modern engineering with China and Japan. A more peaceful VOC barter mail on Dejima, an artificial island off the coast of Nagasaki, was for more than two hundred years the only place where Europeans were permitted to trade with Japan. [ 88 ] When the VOC tried to use military force to make Ming dynasty China open up to Dutch deal, the Chinese defeated the Dutch in a war over the Penghu islands from 1623 to 1624, forcing the VOC to abandon Penghu for Taiwan. The Chinese defeated the VOC again at the Battle of Liaoluo Bay in 1633. The vietnamese Nguyen Lords defeated the VOC in a 1643 battle during the Trịnh–Nguyễn War, blowing up a dutch ship. The Cambodians defeated the VOC in the Cambodian–Dutch War from 1643 to 1644 on the Mekong River .
In 1640, the VOC obtained the port of Galle, Ceylon, from the Portuguese and broke the latter ‘s monopoly of the cinnamon trade. In 1658, Gerard Pietersz. Hulft laid siege to Colombo, which was captured with the aid of King Rajasinghe II of Kandy. By 1659, the Portuguese had been expelled from the coastal regions, which were then occupied by the VOC, securing for it the monopoly over cinnamon. To prevent the Portuguese or the english from ever recapturing Sri Lanka, the VOC went on to conquer the integral Malabar Coast from the Portuguese, about wholly driving them from the west coast of India. When news of a peace agreement between Portugal and the Netherlands reached Asia in 1663, Goa was the only remaining portuguese city on the west seashore. [ 89 ] In 1652, Jan avant-garde Riebeeck established a resupply outpost at the Cape of Storms ( the southwest tip of Africa, immediately Cape Town, South Africa ) to service company ships on their travel to and from East Asia. The cape was subsequently renamed Cape of Good Hope in honor of the outstation ‘s presence. Although non-company ships were welcome to use the station, they were charged exorbitantly. This post by and by became a full-fledged colony, the Cape Colony, when more dutch and other Europeans started to settle there. Through the seventeenth hundred VOC trade posts were besides established in Persia, Bengal, Malacca, Siam, Formosa ( now Taiwan ), american samoa well as the Malabar and Coromandel coasts in India. Direct access to mainland China came in 1729 when a factory was established in Canton. [ 90 ] In 1662, however, Koxinga expelled the dutch from Taiwan [ 91 ] ( see History of Taiwan ). In 1663, the VOC signed the “ Painan Treaty ” with several local lords in the Painan area that were revolting against the Aceh Sultanate. The treaty allowed the VOC to build a trade stake in the sphere and finally to monopolise the trade there, particularly the gold craft. [ 92 ] By 1669, the VOC was the richest private company the worldly concern had always seen, with over 150 merchant ships, 40 warships, 50,000 employees, a secret army of 10,000 soldiers, and a dividend payment of 40 % on the master investment. [ 93 ] many of the VOC employees inter-mixed with the autochthonal peoples and expanded the population of Indos in pre-colonial history. [ 94 ] [ 95 ]

reorientation [edit ]

Around 1670, two events caused the growth of VOC trade to stall. In the first place, the highly profitable trade with Japan started to decline. The loss of the frontier settlement on Formosa to Koxinga in the 1662 Siege of Fort Zeelandia and related inner agitation in China ( where the Ming dynasty was being replaced with the China ‘s Qing dynasty ) brought an end to the silk trade after 1666. Though the VOC substituted Mughal Bengal ‘s for chinese silk, other forces affected the provision of japanese silver and gold. The dictatorship enacted a total of measures to limit the export of these cherished metals, in the action limiting VOC opportunities for trade, and hard worsening the terms of trade. Therefore, Japan ceased to function as the anchor of the intra-Asiatic barter of the VOC by 1685. [ 96 ] evening more importantly, the Third Anglo-Dutch War temporarily interrupted VOC trade wind with Europe. This caused a spike heel in the price of pepper, which enticed the English East India Company ( EIC ) to enter this commercialize aggressively in the years after 1672. previously, one of the tenets of the VOC price policy was to slenderly over-supply the pepper market, so as to depress prices below the level where interlopers were encouraged to enter the market ( rather of striving for short-run profit maximization ). The wisdom of such a policy was illustrated when a ferocious price war with the EIC ensued, as that party flooded the market with new supplies from India. In this struggle for market share, the VOC ( which had much larger fiscal resources ) could wait out the EIC. indeed, by 1683, the latter came close to bankruptcy ; its share price plummeted from 600 to 250 ; and its president Josiah Child was temporarily forced from office. [ 97 ] however, the write was on the wall. other companies, like the french East India Company and the Danish East India Company besides started to make inroads on the dutch system. The VOC consequently closed the theretofore flourishing overt pepper department store of Bantam by a treaty of 1684 with the Sultan. besides, on the Coromandel Coast, it moved its chief stronghold from Pulicat to Negapatnam, therefore as to secure a monopoly on the capsicum trade to the detriment of the french and the Danes. [ 98 ] however, the importance of these traditional commodities in the Asian-European trade was diminishing quickly at the clock. The military outlays that the VOC needed to make to enhance its monopoly were not justified by the increase profits of this declining trade. [ 99 ] however, this example was dull to sink in and at first the VOC made the strategic decisiveness to improve its military situation on the Malabar Coast ( hoping thereby to curtail english influence in the area, and end the drain on its resources from the cost of the Malabar garrisons ) by using wedge to compel the Zamorin of Calicut to submit to Dutch domination. In 1710, the Zamorin was made to sign a treaty with the VOC contract to trade entirely with the VOC and expel other european traders. For a brief time, this appeared to improve the company ‘s prospects. however, in 1715, with EIC encouragement, the Zamorin renounced the treaty. Though a dutch army managed to suppress this rebellion temporarily, the Zamorin continued to trade with the English and the French, which led to an appreciable surge in English and french dealings. The VOC decided in 1721 that it was no longer worth the perturb to try to dominate the Malabar pepper and spice trade. A strategic decision was taken to scale down the dutch military presence and in effect give the area to EIC influence. [ 100 ]
The 1741 Battle of Colachel by warriors of Travancore under Raja Marthanda Varma defeated the Dutch. The dutch commander Captain Eustachius De Lannoy was captured. Marthanda Varma agreed to spare the Dutch captain ‘s life sentence on condition that he joined his army and trained his soldiers on modern lines. This get the better of in the Travancore-Dutch War is considered the earliest model of an form asian might overcoming european military technology and tactics ; and it signalled the decline of dutch baron in India. [ 101 ] The attempt to continue angstrom earlier as a low volume-high net income business enterprise with its core business in the spice deal had consequently failed. The company had however already ( reluctantly ) followed the case of its european competitors in diversifying into other asian commodities, like tea, coffee, cotton, textiles, and boodle. These commodities provided a lower net income allowance and therefore required a larger sales book to generate the same amount of gross. This structural change in the commodity typography of the VOC ‘s trade started in the early 1680s, after the impermanent collapse of the EIC around 1683 offered an excellent opportunity to enter these markets. The actual induce for the change lies, however, in two structural features of this new era. In the first home, there was a revolutionary change in the tastes affecting european need for asian textiles, coffee bean and tea, around the bend of the eighteenth hundred. second, a new earned run average of an abundant provision of capital at broken pastime rates abruptly opened around this fourth dimension. The second factor enabled the caller well to finance its expansion in the fresh areas of department of commerce. [ 102 ] Between the 1680s and 1720s, the VOC was consequently able to equip and man an appreciable expansion of its fleet, and acquire a big amount of precious metals to finance the purchase of large amounts of asian commodities, for cargo to Europe. The overall effect was approximately to double the size of the party. [ 103 ] The tonnage of the returning ships rose by 125 percentage in this period. however, the company ‘s revenues from the sale of goods landed in Europe rose by lone 78 percentage. This reflects the basic change in the VOC ‘s circumstances that had occurred : it now operated in new markets for goods with an elastic demand, in which it had to compete on an peer foot with other suppliers. This made for low net income margins. [ 104 ] unfortunately, the commercial enterprise information systems of the time made this difficult to discern for the managers of the company, which may partially explain the mistakes they made from hindsight. This lack of information might have been counteracted ( as in earlier times in the VOC ‘s history ) by the business acumen of the directors. unfortunately by this time these were about entirely recruited from the political regent class, which had long since lost its close relationship with merchant circles. [ 105 ] low profit margins in themselves do not explain the deterioration of revenues. To a big extent the costs of the operation of the VOC had a “ fix ” character ( military establishments ; sustenance of the fleet and such ). net income levels might consequently have been maintained if the increase in the scale of trade operations that in fact took locate had resulted in economies of scale. however, though larger ships transported the growing volume of goods, labor productiveness did not go up sufficiently to realise these. In general the caller ‘s disk overhead rose in step with the growth in trade volume ; declining gross margins translated directly into a decline in profitableness of the invest capital. The earned run average of expansion was one of “ profitless growth ”. [ 106 ] specifically : “ [ deoxythymidine monophosphate ] he long-run average annual profit in the VOC ‘s 1630–70 ‘Golden Age ‘ was 2.1 million guilders, of which barely under half was distributed as dividends and the remainder reinvested. The long-run average annual profit in the ‘Expansion Age ‘ ( 1680–1730 ) was 2.0 million guilders, of which three-quarters was distributed as dividend and one-fourth reinvested. In the earlier period, profits averaged 18 percentage of total revenues ; in the latter period, 10 percentage. The annual fall of invest capital in the earlier period stood at approximately 6 percentage ; in the latter period, 3.4 percentage. ” [ 106 ] however, in the eyes of investors the VOC did not do excessively badly. The share price hovered systematically around the 400 marker from the mid-1680s ( excepting a hiccup around the Glorious Revolution in 1688 ), and they reached an all-time eminent of around 642 in the 1720s. VOC shares then yielded a return of 3.5 percentage, entirely slightly less than the yield on dutch government bonds. [ 107 ]

decline and fall [edit ]

After 1730, the fortunes of the VOC started to decline. Five major problems, not all of equal weight, explain its refuse over the adjacent fifty years to 1780 : [ 108 ]

• There was a steady erosion of intra-Asiatic trade because of changes in the Asiatic political and economic environment that the VOC could do little about. These factors gradually squeezed the company out of Persia, Suratte, the Malabar Coast, and Bengal. The company had to confine its operations to the belt it physically controlled, from Ceylon through the Indonesian archipelago. The volume of this intra-Asiatic trade, and its profitability, therefore had to shrink.
• The way the company was organised in Asia (centralised on its hub in Batavia), that initially had offered advantages in gathering market information, began to cause disadvantages in the 18th century because of the inefficiency of first shipping everything to this central point. This disadvantage was most keenly felt in the tea trade, where competitors like the EIC and the Ostend Company shipped directly from China to Europe.
• The “venality” of the VOC’s personnel (in the sense of corruption and non-performance of duties), though a problem for all East India Companies at the time, seems to have plagued the VOC on a larger scale than its competitors. To be sure, the company was not a “good employer”. Salaries were low, and “private-account trading” was officially not allowed. Not surprisingly, it proliferated in the 18th century to the detriment of the company’s performance.[109] From about the 1790s onward, the phrase perished under corruption (vergaan onder corruptie, also abbreviated VOC in Dutch) came to summarise the company’s future.
• A problem that the VOC shared with other companies was the high mortality and morbidity rates among its employees. This decimated the company’s ranks and enervated many of the survivors.
• A self-inflicted wound was the VOC’s dividend policy. The dividends distributed by the company had exceeded the surplus it garnered in Europe in every decade from 1690 to 1760 except 1710–1720. However, in the period up to 1730 the directors shipped resources to Asia to build up the trading capital there. Consolidated bookkeeping therefore probably would have shown that total profits exceeded dividends. In addition, between 1700 and 1740 the company retired 5.4 million guilders of long-term debt. The company therefore was still on a secure financial footing in these years. This changed after 1730. While profits plummeted the bewindhebbers only slightly decreased dividends from the earlier level. Distributed dividends were therefore in excess of earnings in every decade but one (1760–1770). To accomplish this, the Asian capital stock had to be drawn down by 4 million guilders between 1730 and 1780, and the liquid capital available in Europe was reduced by 20 million guilders in the same period. The directors were therefore constrained to replenish the company’s liquidity by resorting to short-term financing from anticipatory loans, backed by expected revenues from home-bound fleets.[ citation needed]

Despite these problems, the VOC in 1780 remained an enormous mathematical process. Its capital in the Republic, consisting of ships and goods in inventory, totalled 28 million guilders ; its capital in Asia, consisting of the fluent trade fund and goods en path to Europe, totalled 46 million guilders. entire capital, internet of great debt, stood at 62 million guilders. The prospects of the company at this time consequently were not hopeless, had one of the plans for reform been undertake successfully. however, the Fourth Anglo-Dutch War intervened. british naval attacks in Europe and Asia reduced the VOC fleet by half ; removed valuable cargo from its control ; and eroded its remaining exponent in Asia. The direct losses of the VOC during the war can be calculated at 43 million guilders. Loans to keep the caller operate reduced its web assets to zero. [ 110 ] From 1720 on, the market for sugar from Indonesia declined as the rival from brassy carbohydrate from Brazil increased. european markets became saturated. Dozens of taiwanese boodle traders went bankrupt, which led to massive unemployment, which in turn led to gangs of unemployed coolies. The dutch government in Batavia did not adequately respond to these problems. In 1740, rumours of deportation of the gangs from the Batavia area led to widespread carouse. The dutch military searched houses of Chinese in Batavia for weapons. When a house by chance burnt down, military and impoverish citizens started slaughtering and pillaging the Chinese community. [ 111 ] This massacre of the Chinese was deemed sufficiently dangerous for the board of the VOC to start an official investigation into the Government of the Dutch East Indies for the inaugural clock in its history. After the Fourth Anglo-Dutch War, the VOC was a fiscal wreck. After conceited attempts at reorganization by the peasant States of Holland and Zeeland, it was nationalised by the fresh Batavian Republic on 1 March 1796. [ 112 ] The VOC charter was renewed respective times, but was allowed to expire on 31 December 1799. [ 112 ] Most of the possessions of the early VOC were subsequently occupied by Great Britain during the Napoleonic wars, but after the new United Kingdom of the Netherlands was created by the Congress of Vienna, some of these were restored to this successor department of state of the Dutch Republic by the Anglo-Dutch Treaty of 1814 .

organizational structure [edit ]

The VOC is generally considered to be the universe ‘s first gear sincerely multinational corporation and it was besides the first multinational enterprise to issue shares of stock to the public. Some historians such as Timothy Brook and Russell Shorto consider the VOC as the initiate corporation in the inaugural wave of the bodied globalization era. [ 39 ] [ 40 ] The VOC was the beginning multinational corporation to operate officially in different continents such as Europe, Asia and Africa. While the VOC chiefly operated in what late became the Dutch East Indies ( mod Indonesia ), the company besides had significant operations elsewhere. It employed people from different continents and origins in the lapp functions and working environments. Although it was a dutch caller its employees included not merely people from the Netherlands, but besides many from Germany and from other countries as well. Besides the diverse northwest european work force recruited by the VOC in the Dutch Republic, the VOC made extensive use of local asian labor markets. As a result, the personnel of the assorted VOC offices in Asia consisted of european and asian employees. asian or eurasian workers might be employed as sailors, soldiers, writers, carpenters, smiths, or deoxyadenosine monophosphate simple incompetent workers. [ 113 ] At the stature of its being the VOC had 25,000 employees who worked in Asia and 11,000 who were en road. [ 114 ] besides, while most of its shareholders were Dutch, about a quarter of the initial shareholders were Zuid-Nederlanders ( people from an area that includes modern Belgium and Luxembourg ) and there were besides a few twelve Germans. [ 115 ] The VOC had two types of shareholders : the participanten, who could be seen as non-managing members, and the 76 bewindhebbers ( late reduced to 60 ) who acted as wield directors. This was the usual set-up for Dutch joint-stock companies at the time. The initiation in the case of the VOC was that the liability of not precisely the participanten but besides of the bewindhebbers was limited to the paid-in capital ( normally, bewindhebbers had unlimited liability ). The VOC consequently was a limited liability company. besides, the capital would be permanent during the life of the ship’s company. As a consequence, investors that wished to liquidate their interest in the interim could merely do this by selling their partake to others on the Amsterdam Stock Exchange. [ 116 ] Confusion of confusions, a 1688 negotiation by the Sephardi Jew Joseph de la Vega analysed the workings of this one-stock exchange. The VOC consisted of six Chambers ( Kamers ) in port cities : Amsterdam, Delft, Rotterdam, Enkhuizen, Middelburg and Hoorn. Delegates of these chambers convened as the Heeren XVII ( the Lords Seventeen ). They were selected from the bewindhebber -class of shareholders. [ 117 ] Of the Heeren XVII, eight delegates were from the Chamber of Amsterdam ( one short of a majority on its own ), four from the Chamber of Zeeland, and one from each of the smaller Chambers, while the seventeenth seat was alternatively from the Chamber of Middelburg-Zeeland or rotated among the five small Chambers. Amsterdam had thereby the decisive voice. The Zeelanders in detail had misgivings about this placement at the begin. The fear was not baseless, because in practice it meant Amsterdam stipulated what happened. The six chambers raised the start-up capital of the Dutch East India company :

Chamber	Capital (Guilders)
Amsterdam	3,679,915
Middelburg	1,300,405
Enkhuizen	540,000
Delft	469,400
Hoorn	266,868
Rotterdam	173,000
Total:	6,424,588

The enhance of das kapital in Rotterdam did not go so smoothly. A considerable part originated from inhabitants of Dordrecht. Although it did not raise a much das kapital as Amsterdam or Middelburg-Zeeland, Enkhuizen had the largest stimulation in the share capital of the VOC. Under the inaugural 358 shareholders, there were many little entrepreneurs, who dared to take the hazard. The minimal investment in the VOC was 3,000 guilders, which priced the caller ‘s stock within the means of many merchants. [ 118 ]
1783 assorted VOC soldier uniforms, c.1783 Among the early shareholders of the VOC, immigrants played an important function. Under the 1,143 tenderers were 39 Germans and no fewer than 301 from the Southern Netherlands ( roughly present Belgium and Luxembourg, then under Habsburg rule ), of whom Isaac lupus erythematosus Maire was the largest subscriber with ƒ85,000. VOC ‘s total capitalization was ten times that of its british rival. The Heeren XVII ( Lords Seventeen ) met alternately six years in Amsterdam and two years in Middelburg-Zeeland. They defined the VOC ‘s general policy and divided the tasks among the Chambers. The Chambers carried out all the necessity bring, built their own ships and warehouses and traded the trade. The Heeren XVII sent the ships ‘ masters off with across-the-board instructions on the route to be navigated, prevailing winds, currents, shoals and landmarks. The VOC besides produced its own charts. In the context of the Dutch-Portuguese War the company established its headquarters in Batavia, Java ( now Jakarta, Indonesia ). other colonial outposts were besides established in the East Indies, such as on the Maluku Islands, which include the Banda Islands, where the VOC forcibly maintained a monopoly over nutmeg and mace. Methods used to maintain the monopoly involved extortion and the fierce suppression of the native population, including mass murder. [ 119 ] In addition, VOC representatives sometimes used the tactic of burning spiciness trees to force autochthonal populations to grow other crops, thus artificially cutting the provide of spices like nutmeg and cloves. [ 120 ]

Shareholder activism and government issues [edit ]

The seventeenth-century Dutch businessmen, specially the VOC investors, were possibly history ‘s first recorded investors to badly consider the bodied government ‘s problems. [ 121 ] [ 122 ] Isaac Le Maire, who is known as history ‘s inaugural recorded short seller, was besides a goodly stockholder of the VOC. In 1609, he complained of the VOC ‘s cheapjack corporate government. On 24 January 1609, Le Maire filed a petition against the VOC, marking the first recorded expression of stockholder activism. In what is the first recorded corporate administration dispute, Le Maire formally charged that the VOC ‘s circuit board of directors ( the Heeren XVII ) sought to “ retain another ‘s money for longer or use it ways other than the latter wishes ” and petitioned for the liquidation of the VOC in accordance with standard business practice. [ 123 ] [ 124 ] [ 125 ] Initially the largest single stockholder in the VOC and a bewindhebber sitting on the board of governors, Le Maire apparently attempted to divert the firm ‘s profits to himself by undertaking 14 expeditions under his own accounts alternatively of those of the party. Since his big shareholdings were not accompanied by greater voting might, Le Maire was soon ousted by early governors in 1605 on charges of embezzlement, and was forced to sign an agreement not to compete with the VOC. Having retained livestock in the company following this incident, in 1609 Le Maire would become the author of what is celebrated as “ first recorded expression of stockholder advocacy at a publicly traded company ”. [ 126 ] [ 127 ] [ 128 ] In 1622, the history ‘s first recorded stockholder disgust besides happened among the VOC investors who complained that the company bill books had been “ smeared with bacon ” therefore that they might be “ eaten by dogs. ” The investors demanded a “ reeckeninge, ” a proper fiscal audit. [ 129 ] The 1622 campaign by the shareholders of the VOC is a testimony of genesis of corporate social responsibility ( CSR ) in which shareholders staged protests by distributing pamphlets and complaining about management self enrichment and secrecy. [ 130 ]

main trade posts, settlements, and colonies [edit ]

Europe [edit ]

Netherlands [edit ]

Africa [edit ]

mauritius [edit ]

South Africa [edit ]

asia [edit ]

Scale model of dutch trading post on display in Dejima Nagasaki ( 1995 ) Ground-plan of the dutch trade-post on the island Dejima at Nagasaki. An imagine bird’s-eye view of Dejima ‘s layout and structures ( copied from a woodblock print by Toshimaya Bunjiemon of 1780 ).

Gateway to the Castle of Good Hope, a bastion fort built by the VOC in the seventeenth century

indonesia [edit ]

indian subcontinent [edit ]

Japan [edit ]

Taiwan [edit ]

malaysia [edit ]

thailand [edit ]

Vietnam [edit ]

Conflicts and wars involving the VOC [edit ]

The history of VOC commercial battle, for model with the british East India Company ( EIC ), was at times closely connected to Dutch military conflicts. The commercial interests of the VOC ( and more broadly the Netherlands ) were reflected in military objectives and the settlements agreed by treaty. In the Treaty of Breda ( 1667 ) ending the second gear Anglo-Dutch War, the Dutch were ultimately able to secure a VOC monopoly for nutmeg trade, ceding the island of Manhattan to the british while gaining the end non-VOC controlled source of nutmeg, the island of Rhun in the Banda islands. [ 131 ] The dutch later re-captured Manhattan, but returned it along with the colony of New Netherland in the Treaty of Westminster ( 1674 ) ending the third Anglo-Dutch War. The british besides gave up claims on Suriname as part of the Treaty of Westminster. There was besides an attempt to compensate the war-related losses of the Dutch West India Company in the mid-17th century by the profits of the VOC, though this was ultimately blocked .

historical roles and bequest [edit ]

( … ) As populations grew, more robust legal and fiscal infrastructures began to develop across Europe. Those infrastructures, combined with advances in shipping technology, made large-scale deal feasible for the first time. In 1602, the Dutch East India Company was formed. It was a modern type of institution : the first gear multinational company, and the first gear to issue public neckcloth. These innovations allowed a one company to mobilize fiscal resources from a boastfully number of investors and create ventures at a scale that had previously only been possible for sovereign .John Hagel & John Seely Brown, Deloitte Insights, March 2013[141]

In terms of global business history, the lessons from the VOC ‘s successes or failures are critically significant. In his book Amsterdam: A History of the World’s Most Liberal City ( 2013 ), American author and historian Russell Shorto summarises the VOC ‘s importance in world history : “ Like the oceans it mastered, the VOC had a telescope that is hard to fathom. One could craft a defendable argumentation that no company in history has had such an impact on the worldly concern. Its surviving archives – in Cape Town, Colombo, Chennai, Jakarta, and The Hague – have been measured ( by a consortium applying for a UNESCO grant to preserve them ) in kilometers. In countless ways the VOC both expanded the populace and brought its far-flung regions in concert. It introduced Europe to Asia and Africa, and frailty versa ( while its baby multinational, the West India Company, set New York City in motion and colonized Brazil and the Caribbean Islands ). It pioneered globalization and invented what might be the first modern bureaucracy. It advanced mapmaking and shipbuilding. It fostered disease, slavery, and exploitation on a scale never ahead image. ” [ 40 ] A pioneer early model of the multinational pot in its modern sense, [ 142 ] [ 143 ] [ 144 ] [ 145 ] the company is besides considered to be the global ‘s beginning on-key multinational corporation. In the early 1600s, the VOC became the global ‘s first formally listed public company because it was the beginning corporation to be ever actually listed on a formal stock exchange. The VOC had a massive charm on the evolution of the modern corporation by creating an institutional prototype for subsequent large-scale business enterprises ( in particular bombastic corporations like multinational/transnational/global corporations ) and their arise to become a highly meaning socio-politico-economic force of the modern world as we know it today. [ 146 ] [ 44 ] [ 147 ] [ 46 ] [ 148 ] [ 149 ] In many respects, contemporary publicly listed global companies ( including Forbes Global 2000 companies ) [ 150 ] are all ‘descendants ‘ of a business model pioneered by the VOC in the seventeenth hundred. Like contemporary major corporations, [ 151 ] in many ways, the post-1657 English/British East India Company ‘s operational social organization was a derivative instrument of the earlier VOC model. [ 49 ] [ 50 ] [ 52 ] [ 38 ] [ 53 ] During its golden long time, the company played all-important roles in clientele, fiscal, [ oxygen ] socio-politico-economic, military-political, diplomatic, heathen, and exploratory nautical history of the universe. In the early modern menstruation, the VOC was besides the drive force behind the rise of corporate-led globalization, [ 156 ] [ 2 ] bodied might, corporate identity, corporate culture, corporate social responsibility, corporate ethics, corporate administration, corporate finance, corporate capitalism, and finance capitalism. With its pioneering institutional innovations and powerful roles in global history, [ 157 ] the company is considered by many to be the beginning major, first modern, [ p ] [ 159 ] [ 160 ] [ 161 ] first global, most valuable, [ 162 ] [ 163 ] and most influential corporation ever seen. [ q ] [ 39 ] [ 40 ] [ 41 ] The VOC was besides arguably the first diachronic model of the megacorporation .

Pioneering institutional innovations and impacts on contemporary ball-shaped business practices and fiscal arrangement [edit ]

In 1602 shares in the dutch Vereenigde Oost-Indische Compagnie ( VOC, bettor known as the Dutch East India Company ) were issued, abruptly creating what is normally considered the global ‘s first gear publicly traded company. ( … ) There are other claimants to the entitle of beginning populace company, including a twelfth-century water mill in France and a thirteenth-century company intended to control the English wool trade wind, Staple of London. Its shares, however, and the manner in which those shares were traded, did not sincerely allow public ownership by anyone who happened to be able to afford a contribution. The arrival of VOC shares was therefore momentous, because as Fernand Braudel pointed out, it opened up the ownership of companies and the ideas they generated, beyond the ranks of the gentry and the very rich, so that everyone could finally participate in the speculative freedom of transactions. By expanding ownership of its company pie for a certain price and a doubtful reappearance, the dutch had done something historic : they had created a capital market .Kevin Kaiser and David Young (INSEAD), in “The Blue Line Imperative: What Managing for Value Really Means” (2013)[169]

The VOC played a crucial character in the get up of corporate-led globalization, [ 170 ] corporate government, corporate identity, [ 171 ] corporate social province, bodied finance, modern entrepreneurship, and fiscal capitalism. [ 172 ] [ 173 ] [ 41 ] During its aureate long time, the company made some fundamental institutional innovations in economic and fiscal history. These financially revolutionist innovations allowed a single company ( like the VOC ) to mobilise fiscal resources from a boastfully issue of investors and create ventures at a scale that had previously only been possible for sovereign. In the words of canadian historian and sinologist Timothy Brook, “ the Dutch East India Company – the VOC, as it is known – is to corporate capitalism what Benjamin Franklin ‘s kite is to electronics : the beginning of something momentous that could not have been predicted at the clock time. ” [ 39 ] The parturition and growth of the VOC ( specially in the seventeenth hundred ) is considered by many to be the official begin of the corporate globalization era with the rise of large-scale business enterprises ( multinational/transnational corporations in particular ) as a highly formidable socio-politico-economic pull [ 174 ] [ 175 ] [ 176 ] [ 39 ] that significantly affects people ‘s lives in every corner of the world nowadays, [ 44 ] [ 45 ] [ 47 ] [ 177 ] [ 46 ] [ 178 ] [ 48 ] whether for better or worse. [ 30 ] As the global ‘s first publicly traded ship’s company and first listed company ( the first party to be ever listed on an official broth rally ), the VOC was the first company to issue standard and bonds to the general public. Considered by many experts to be the world ‘s first truly ( mod ) multinational corporation, [ 179 ] the VOC was besides the first permanently organised limited-liability joint-stock party, with a permanent capital base. [ second ] [ 181 ] The VOC shareholders were the pioneers in laying the footing for modern corporate administration and corporate finance. The VOC is often considered as the harbinger of modern corporations, if not the beginning in truth mod pot. [ 182 ] It was the VOC that invented the idea of investing in the company rather than in a specific venture governed by the company. With its pioneering features such as corporate identity ( first gear globally recognize corporate logo ), entrepreneurial spirit, legal personhood, multinational ( multinational ) operational social organization, gamey and stable profitableness, permanent capital ( fasten capital lineage ), [ 183 ] freely movable shares and tradable securities, separation of ownership and management, and circumscribed liability for both shareholders and managers, the VOC is by and large considered a major institutional breakthrough [ 184 ] and the exemplary for big corporations that immediately dominate the ball-shaped economy. [ 185 ]

( … ) This enigmatic business [ i.e. the inner workings of the stock certificate exchange in Amsterdam, chiefly the practice of VOC and WIC stock deal ] which is at once the fairest and most deceitful in Europe, the noblest and the most ill-famed in the worldly concern, the finest and the most coarse on earth. It is a quintessence of academic learn and a paragon of fraudulence ; it is a standard for the healthy and a gravestone for the audacious, a treasury of utility and a source of calamity, ( … ) The best and most agreeable expression of the new business is that one can become rich without gamble. indeed, without endangering your capital, and with out having anything to do with parallelism, advances of money, warehouses, postage, cashiers, suspensions of payment, and other unanticipated incidents, you have the prognosis of gaining wealth if, in the case of bad luck in your transactions, you will only change your name. just as the Hebrews, when they are badly ill, change their names in order to obtain respite, so a transfer of his name is sufficient for the speculator who finds himself in difficulties, to free himself from all impending dangers and tormenting edginess .Joseph de la Vega, in his book Confusión de confusiones (1688), the earliest book about stock trading[186]

The stock market – the day venture series of the comfortable – would not be the stock market if it did not have its ups and downs. ( … ) apart from the economic advantages and disadvantages of livestock exchanges – the advantage that they provide a free flow of capital to finance industrial expansion, for example, and the disadvantage that they provide an all excessively convenient way for the doomed, the imprudent, and the fleeceable to lose their money – their development has created a whole radiation pattern of sociable behavior, complete with customs, linguistic process, and predictable responses to given events. What is truly extraordinary is the accelerate with which this pattern emerged full blow following the establishment, in 1611, of the world ‘s first important stock exchange – a dispossessed court in Amsterdam – and the degree to which it persists ( with variations, it is true ) on the New York Stock Exchange in the nineteen-sixties. contemporary lineage deal in the United States – a bewilderingly huge enterprise, involving millions of miles of individual cable wires, computers that can read and copy the Manhattan Telephone Directory in three minutes, and over twenty million stockholder participants – would seem to be a far cry from a handful of seventeenth-century Dutchmen haggle in the rain. But the battlefield marks are much the like. The foremost stock exchange was, unwittingly, a testing ground in which new human reactions were revealed. By the same token, the New York Stock Exchange is besides a sociological test metro, constantly contributing to the human species ‘ self-understanding. The behavior of the pioneer Dutch livestock traders is competently documented in a book entitled “ Confusion of Confusions, ” written by a speculator on the Amsterdam grocery store named Joseph de la Vega ; primitively published in 1688 ( … )John Brooks, in “Business Adventures” (1968)[187]

business ventures with multiple shareholders became democratic with commenda contracts in medieval Italy ( Greif, 2006, p. 286 ), and Malmendier ( 2009 ) provides testify that stockholder companies date back to ancient Rome. Yet the claim of the world ‘s first stock market deservedly goes to that of seventeenth-century Amsterdam, where an active voice secondary market in ship’s company shares emerged. The two major companies were the Dutch East India Company and the dutch West India Company, founded in 1602 and 1621. other companies existed, but they were not as large and constituted a small fortune of the lineage market .Edward P. Stringham and Nicholas A. Curott, in “The Oxford Handbook of Austrian Economics” [On the Origins of Stock Markets] (2015)[188]

The VOC was a drive military unit behind the resurrect of Amsterdam as the first modern model of international fiscal centres [ triiodothyronine ] that nowadays dominate the global fiscal system. With their political independence, huge maritime and fiscal ability, [ 190 ] [ 191 ] Republican-period Amsterdam and other Dutch cities – unlike their southern Netherlandish cousins and predecessors such as Burgundian-rule Bruges [ 192 ] and Habsburg-rule Antwerp [ 193 ] [ 194 ] [ 195 ] – could control crucial resources and markets immediately, sending their combined fleets to about all quarters of the globe. [ 196 ] [ 197 ] During the seventeenth century and most of the eighteenth hundred, Amsterdam had been the most influential fiscal center of the worldly concern. [ 198 ] [ 199 ] [ 200 ] [ 201 ] [ 202 ] The VOC besides played a major function in the universe of the world ‘s beginning fully functioning fiscal market, [ 203 ] with the birth of a amply fledged capital market. [ 204 ] The dutch were besides the first who effectively used a fully-fledged capital grocery store ( including the bind grocery store and the store grocery store ) to finance companies ( such as the VOC and the WIC ). It was in the 17th-century Dutch Republic that the ball-shaped securities market began to take on its advanced form. And it was in Amsterdam that the authoritative institutional innovations such as publicly traded companies, multinational corporations, capital markets ( including bail markets and stock markets ), central bank organization, investment trust system, and investment funds ( common funds ) were systematically operated for the first prison term in history. In 1602 the VOC established an exchange in Amsterdam where VOC malcolm stock and bonds could be traded in a secondary market. The VOC undertook the universe ‘s first gear recorded IPO in the lapp year. The Amsterdam Stock Exchange ( Amsterdamsche Beurs or Beurs van Hendrick de Keyser in Dutch ) was besides the earth ‘s first fully-fledged stock exchange. While the italian city-states produced first formal attachment markets, they did not develop the early ingredient necessity to produce a in full fledged capital commercialize : the formal breed market. [ 205 ] The Dutch East India Company ( VOC ) became the first company to offer shares of stock certificate. The dividend averaged around 18 % of capital over the course of the company ‘s 200-year universe. The launch of the Amsterdam Stock Exchange by the VOC in the early 1600s, has long been recognised as the origin of ‘modern ‘ stock exchanges that specialise in creating and sustaining secondary markets in the securities ( such as bonds and shares of stock ) issued by corporations. [ 206 ] Dutch investors were the first to trade their shares at a regular stock exchange. The serve of buying and selling these shares of malcolm stock in the VOC became the basis of the first official ( formal ) malcolm stock market in history. [ 164 ] [ 207 ] It was in the Dutch Republic that the early techniques of stock-market manipulation were developed. The dutch pioneered stock futures, stock options, short betray, bear raids, debt-equity swaps, and other notional instruments. [ 208 ] Amsterdam businessman Joseph de la Vega ‘s Confusion of Confusions ( 1688 ) [ 209 ] was the earliest script about stock trade .

Impacts on social, economic, fiscal, political, and military history of the Netherlands [edit ]

( … ) I do n’t understand why you ‘re all being so negative and unpleasant. Let ‘s barely be felicitous with each early. Let ‘s equitable say “ the Netherlands can do it ” again : that VOC brain. Look across our borders. vigor ! Do n’t you think ?Jan Pieter Balkenende, then Dutch Prime Minister, reacted to the criticism of his government policy during the parliamentary debate, September 2006[u][212][213]

( … ) The charter of the Dutch East India Company stipulated that any Dutch citizen could buy shares in the company. many did grasp this opportunity. And they were not only affluent merchants ! Among these first shareholders were corn dealers, grocers, bakers, brewers, tailors, seamstresses, cruise makers, carpenters, cobblers and servants. One of the most modest participants was the Mayor of Amsterdam ‘s maid. Her name was Grietje Dirksdochter. Grietje saw a tipping decimal point in Dutch history. This new orifice provided ordinary people like her not alone with the opportunity of becoming a stockholder of a mere ship caller. It provided her with the opportunity of becoming a stockholder of the Dutch Golden Age. Of an excite era of social development and economic growth. She was taking function in a newfangled, dynamic economy .Queen Máxima of the Netherlands, a former investment banker, speech at fourth annual Morningstar Investment Conference in Amsterdam, March 2014[214]

The estimate of a highly competitive and mastermind ( active chiefly in Greater India but headquartered in the United Provinces of the Netherlands ) Dutch government-backed privately financed military-commercial enterprise was the wartime inspiration of the ahead republican statesman Johan van Oldenbarnevelt and the States-General in the late 1590s. In 1602, the “ United ” East India Company ( VOC ) was formed by a government-directed consolidation/amalgamation of respective rival Dutch trading companies or the alleged voorcompagnieën. [ 215 ] It was a time when the newly formed Dutch Republic was in the midst of their eighty-year-long revolutionary global war ( 1579–1648 ) against the mighty spanish Empire, a foremost world power of the early modern global, and its Iberian Union ( 1580–1640 ). [ 216 ] [ 217 ] [ 218 ] [ 219 ] And consequently, from the begin, the VOC was not alone a business enterprise but besides an instrument of war. In other words, the VOC was a amply operation military-political-commercial complex in its own proper preferably than a pure trade company or shipping company. [ five ] [ 221 ] [ 222 ] [ 56 ]

( … ) merely a unique federal state such as the Dutch Republic could have dreamed up a union company structure. The VOC combined flexibility with forte, giving the dutch a huge advantage in the competition to dominate nautical trade to Asia. Within a few decades, the VOC proved itself to be the most brawny deal corporation in the seventeenth-century populace and the model for the large-scale business enterprises that now dominate the ball-shaped economy .Timothy Brook, in “Vermeer’s Hat” (2008)[39]

In the early modern period, the VOC was the largest private employer in the low Countries. The company was a major force behind the fiscal revolution [ tungsten ] [ 224 ] [ 225 ] and economic miracle [ 226 ] [ 227 ] [ 228 ] of the young Dutch Republic in the seventeenth hundred. During their Golden Age, the Dutch Republic ( or the Northern Netherlands ), as the resource-poor and confuse cousins of the more urbanized Southern Netherlands, rose to become the world ‘s lead economic and fiscal world power. [ ten ] [ 231 ] [ 232 ] [ 233 ] [ 234 ] [ 235 ] Despite its miss of natural resources ( except for water and weave office ) and its relatively minor size and population, the Dutch Republic dominated global market in many advance industries [ 236 ] such as shipbuilding, embark, urine engineering, print and print, map make, pulp and paper, lens-making, sugarcane refine, oversea investment, [ 237 ] [ 25 ] [ 26 ] fiscal services, and international trade. The Dutch Republic was an early industrialized nation-state in its Golden Age. The 17th-century Dutch mechanical innovations/inventions such as wind-powered sawmills and Hollander beaters helped revolutionize shipbuilding and newspaper ( including pulp ) [ y ] industries in the early advanced time period. The VOC ‘s shipyards besides contributed greatly to the dutch domination of ball-shaped shipbuilding and shipping industries during the 1600s. [ z ] “ By seventeenth hundred standards, ” as Richard Unger affirms, Dutch shipbuilding “ was a massive industry and larger than any shipbuilding diligence which had preceded it. ” [ 240 ] By the 1670s the size of the Dutch merchant evanesce probably exceeded the compound fleets of England, France, Spain, Portugal, and Germany. [ 241 ] From about the early 1600s to about the mid-18th century, the Dutch Republic ‘s economic, business and fiscal systems were the most promote and twist always seen in history. [ 242 ] [ 243 ] [ 244 ] [ 245 ] From about 1600 to about 1720, the dutch had the highest per head income in the universe, at least double that of neighbouring countries at the time. [ 246 ] however, in a typical multicultural company of the Netherlands ( home to one million citizens with roots in the former colonies Indonesia, Suriname and the Antilles ), [ 247 ] the VOC ‘s history ( and particularly its iniquity side ) has constantly been a potential source of controversy. In 2006 when the Dutch Prime Minister Jan Pieter Balkenende referred to the pioneer entrepreneurial spirit and bring ethics of the dutch people and Dutch Republic in their Golden Age, he coined the term “ VOC brain ” ( VOC-mentaliteit in Dutch ). [ alcoholics anonymous ] For Balkenende, the VOC represented Dutch clientele acumen, entrepreneurship, adventurous intent, and finality. however, it unleashed a roll of criticism, since such amatory views about the Dutch Golden Age ignores the built-in historical associations with colonialism, exploitation and violence. Balkenende late stressed that “ it had not been his intention to refer to that at all ”. [ 249 ] But in cattiness of criticisms, the “ VOC-mentality ”, as a feature of the selective historical perspective on the Dutch Golden Age, has been considered a key feature of dutch cultural policy for many years. [ 249 ]

Roles in the history of the ball-shaped economy and external relations [edit ]

Its [ the VOC ‘s ] fame as the first public company, which heralded the transition from feudalism to modern capitalism, [ ab ] and its remarkable fiscal achiever for closely two centuries ensure its importance in the history of capitalism .Warwick Funnell and Jeffrey Robertson, in “Accounting by the First Public Company” (2014)[253]

( … ) here [ 17th-century Ternate, North Maluku, Indonesia ], surely, was a very early, amply operational expression of international consolidation, the embryonic form of today ‘s omnipresent globalization. We would recognise its constituent elements. here was the tenuous but well-structured supply-chain, extended all the room from Banda to Amsterdam, via numerous ports and functionaries, administered with beastly efficiency by the Dutch East India Company, possibly the beginning occupation organization that bears resemblance to today ‘s multinational corporations. The company raised money by issuing shares. It had the first widely-recognised commercial logo. even without nowadays ‘s computers, the company ‘s officials were linked through a hierarchy of regular detail report and account. production was brought together in plantations and processed in ‘factories ‘. Near-subsistence department of agriculture was replaced with scale and choice control, supervised by the perkeniers with an incentivising profit-sharing bargain with the company. Customer feedback was insistently relayed to producers : ‘small nutmegs are of no value ‘. This mighty machine produced 3000 tons of nutmeg annually and transported it across hazardous waters to deliver it to the burghers of Holland and on to the rest of Europe ‘s spice-hungry upper-class. Ad hoc deal between nations, with goods passing through many hands, many owners and many markets, was replaced by ‘straight-through ‘ process by a one entity – the Dutch East India Company .Stephen Grenville, in “The first global supply chain”, Lowy Institute, November 2017[2]

The VOC was a transcontinental employer and an early pioneer of outward foreign direct investment at the dawn of modern capitalism. In his record The Ecology of Money: Debt, Growth, and Sustainability ( 2013 ), adrian Kuzminski notes, “ The dutch, it seems, more than anyone in the West since the booming days of ancient Rome, had more money than they knew what to do with. They discovered, unlike the Romans, that the best practice of money was to make more money. They invested it, by and large in abroad ventures, utilising the initiation of the joint-stock company in which private investors could purchase shares, the most celebrated being the Dutch East India Company. ” [ 254 ] The VOC ‘s intercontinental activities played a major function to the Dutch Republic ‘s prosperity, vitamin a good as it could awaken socio-economic dynamism elsewhere. [ 22 ] [ 23 ] [ 24 ] Wherever Dutch capital went, urban features were developed, economic activities expanded, modern industries established, new jobs created, trading companies operated, swamps drained, mines opened, forests exploited, canals constructed, mills turned, and ships were built. [ 22 ] [ 23 ] The VOC existed for about 200 years from its establish in 1602, when the States-General of the Netherlands granted it a 21-year monopoly over dutch operations in Asia until its death in 1796. During those two centuries ( between 1602 and 1796 ), the VOC sent about a million Europeans to work in the Asia trade on 4,785 ships, and netted for their efforts more than 2.5 million tons of asian trade goods. By contrast, the rest of Europe combined sent entirely 882,412 people from 1500 to 1795, and the fleet of the English ( later British ) East India Company, the VOC ‘s nearest rival, was a distant second to its total dealings with 2,690 ships and a bare one-fifth the tonnage of goods carried by the VOC. The VOC enjoyed huge profits from its zest monopoly through most of the seventeenth century. [ 255 ] By 1669, the VOC was the richest caller the world had ever seen, with over 150 merchant ships, 40 warships, 50,000 employees, a private army of 10,000 soldiers, and a dividend requital of 40 % on the original investment. [ 256 ] [ 257 ]

A CorporNation ‘s huge ball-shaped influence [ 258 ] enables it to function simultaneously in two realms : a for-profit company, and as a military unit that can shape the geopolitical landscape. Google is n’t the only CorporNation ; Goldman Sachs is distinctly in that class – as the greek political crisis has revealed, the company has been a partner in fraudulence with governments that used fiscal chemistry to disguise deficits as off-balance plane baubles. Wal-Mart functioned as a CorporNation during Katrina. CorporNations are n’t newly. indeed, they are vitamin a old as capitalism, going binding to the Dutch East India Company, which was chartered in 1602, became the populace ‘s first ball-shaped company and transform Holland into a colonial ability as it dominated the East .Adam Hanft, Huffington Post, May 2010[55]

A lease caller, the first with publicly traded stocks, and—within a few decades of its foundation—the richest caller in the world, the VOC was not merely a business interest. It constituted a politogen, flush a state of matter in itself. By 1669, it commanded over two hundred ships, a quarter of them warships, and ten-spot thousand soldiers. The dutch state had granted the VOC law-making, war-making, and judicial authority. It founded colonies that proved to be in full functioning, if not in full freelancer, states that lasted for centuries. It deported and imported populations to build new societies dedicated to a generative economy, it annihilated horizontal communities, and toppled preexisting local anesthetic states. ( … ) One of the VOC ‘s most innovative achievements was to organize, much alone, an intercontinental bicycle of accumulation that was vital to the emergence of global capitalism and the modern state .Peter Gelderloos, in Worshipping Power: An Anarchist View of Early State Formation (2016)[259]

In terms of military-political history, the VOC, along with the dutch West India Company ( WIC/GWIC ), was seen as the international weapon of the Dutch Republic and the emblematic power of the Dutch Empire. The VOC was historically a military-political-economic building complex quite than a pure trade party ( or shipping ship’s company ). The government-backed but privately financed company was efficaciously a state in its own right, or a state within another state. [ actinium ] For about 200 years of its universe, the VOC was a key non-state geopolitical actor in Eurasia. [ 1 ] The company was a lot an unofficial congressman of the States General of the United Provinces in alien relations of the Dutch Republic with many states, specially Dutch-Asian relations. The caller ‘s territories were even larger than some countries. The VOC had seminal influences on the modern history of many countries and territories around the worldly concern such as New Netherland ( New York ), [ 260 ] Indonesia, Malaysia, India, Sri Lanka, Australia, New Zealand, South Africa, Mauritius, Taiwan, and Japan. [ 261 ]

Artistic, scientific, technological, and cultural legacies of the VOC World [edit ]

( … ) much has besides been learned about the VOC and Dutch colonial societies. furthermore, the TANAP ( Towards a New Age of Partnership, 2000–2007 ) project has created momentum for research on the relationship between the VOC and autochthonal societies. In contrast, the function of the VOC in cultural history and specially in the history of ocular and material culture has not even attracted comparable sake. To be surely, journals and other travel accounts ( some even with illustrations ) by soldiers, shippers, and VOC officials among others have been utilized as sources .Michael North & Thomas DaCosta Kaufmann, in “Mediating Netherlandish Art and Material Culture in Asia” (2014)[262]

As information and cognition exchange network [edit ]

During the Dutch Golden Age, the Dutch – using their expertness in doing business, mapmaking, shipbuilding, seafaring and navigation – traveled to the far corners of the world, leaving their terminology embedded in the names of many places. Dutch exploratory voyages revealed largely strange landmasses to the civilize universe and put their names on the earth map. During the Golden Age of Dutch exploration ( c. 1590s–1720s ) and the Golden Age of Netherlandish mapmaking ( c. 1570s–1670s ), Dutch-speaking navigators, explorers, and cartographers were the undisputed firsts to chart/map many hitherto largely strange regions of the earth and the flip. The Dutch came to dominate the map-making and map printing industry by virtue of their own travels, deal ventures, and far-flung commercial networks. [ 263 ] As Dutch ships reached into the unknown corners of the globe, Dutch cartographers incorporated new geographic discoveries into their oeuvre. rather of using the information themselves secretly, they published it, so the maps multiplied freely. For about 200 years, the Dutch dominated worldly concern barter. [ 264 ] Dutch ships carried goods, but they besides opened up opportunities for the exchange of cognition. [ 265 ] The commercial networks of the Dutch multinational companies, Dutch multinational companies, e.g. the VOC and West India Company ( WIC/GWIC ), provided an infrastructure which was accessible to people with a scholarly matter to in the exotic universe. [ 266 ] [ 267 ] [ 268 ] [ 269 ] [ 270 ] [ 271 ] The VOC ‘s bookkeeper Hendrick Hamel was the first known European/Westerner to experience first-hand and write about Joseon -era Korea. [ ad ] In his report ( published in the Dutch Republic ) in 1666 Hendrick Hamel described his adventures on the korean Peninsula and gave the first accurate description of day by day life of Koreans to the western populace. [ 272 ] [ 273 ] [ 274 ] The VOC trade post on Dejima, an artificial island off the slide of Nagasaki, was for more than two hundred years the lone place where Europeans were permitted to trade with Japan. Rangaku ( literally ‘Dutch Learning ‘, and by elongation ‘Western Learning ‘ ) is a body of cognition developed by Japan through its contacts with the Dutch enclave of Dejima, which allowed Japan to keep abreast of western technology and music in the menstruation when the country was closed to foreigners, 1641–1853, because of the Tokugawa dictatorship ‘s policy of home isolation ( sakoku ) .

Influences on Dutch Golden Age artwork [edit ]

From 1609 the VOC had a deal post in Japan ( Hirado, Nagasaki ), which used local composition for its own government. however, the newspaper was besides traded to the VOC ‘s early trading posts and evening the Dutch Republic. many impressions of the Dutch Golden Age artist Rembrandt ‘s prints were done on japanese paper. From about 1647 Rembrandt sought increasingly to introduce pas seul into his prints by using different sorts of wallpaper, and printed most of his plates regularly on japanese newspaper. He besides used the paper for his drawings. The japanese newspaper types – which was actually imported from Japan by the VOC – attracted Rembrandt with its ardent, yellow color. [ 286 ] They are often smooth and glazed, whilst western composition has a more rough and flat surface. [ 287 ] furthermore, the VOC ‘s imported chinese export porcelain and japanese export porcelain wares are often depicted in many Dutch Golden Age genre paintings, specially in Jan Vermeer ‘s paintings. [ 39 ]

formation of religious and cultural groups within the VOC World [edit ]

Contributions in the Age of Exploration [edit ]

( … ) The dutch polity of the seventeenth hundred was famously unconcerned with territorial expansion : ampere retentive as the frontier operated efficaciously as a defensive shield, no extra kingdom was deemed necessity .Peter J. Taylor, in “World City Network: A Global Urban Analysis” (2004)[297]

The Dutch East India Company ( VOC ) was besides a major impel behind the Golden Age of Dutch exploration and discovery ( c. 1590s–1720s ). The VOC-funded exploratory voyages such as those led by Willem Janszoon ( Duyfken ), Henry Hudson ( Halve Maen ) and Abel Tasman revealed largely unknown landmasses to the civilized universe. besides, during the Golden Age of Dutch/Netherlandish mapmaking ( c. 1570s–1670s ), VOC navigators, explorers, and cartographers [ ae ] helped shape cartographic and geographic cognition of the contemporary world. [ 298 ] [ 299 ] [ 300 ]

Halve Maen

‘

mho exploratory voyage and function in the formation of New Netherland [edit ]

In 1609, English sea captain and internet explorer Henry Hudson was hired by the VOC émigrés running the VOC located in Amsterdam to find a northeast passage to Asia, sailing around Scandinavia and Russia. He was turned back by the ice of the Arctic in his second attack, so he sailed west to seek a northwest enactment rather than return home. He ended up exploring the waters off the east slide of North America aboard the vlieboot Halve Maen. His inaugural landfall was at Newfoundland and the second at Cape Cod. Hudson believed that the passage to the Pacific Ocean was between the St. Lawrence River and Chesapeake Bay, so he sailed south to the Bay then turned northbound, traveling close along the shore. He first discovered Delaware Bay and began to sail upriver looking for the passage. This campaign was foiled by flaxen shoals, and the Halve Maen continued north. After passing Sandy Hook, Hudson and his crowd entered the narrows into the Upper New York Bay. ( Unbeknownst to Hudson, the narrows had already been discovered in 1524 by internet explorer Giovanni district attorney Verrazzano ; nowadays, the bridge spanning them is named after him. [ 301 ] ) Hudson believed that he had found the continental water system route, so he sailed up the major river which later bore his list : the Hudson. He found the body of water excessively shoal to proceed respective days late, at the site of contemporary Troy, New York. [ 302 ] Upon returning to the Netherlands, Hudson reported that he had found a prolific land and an amicable people volition to engage his crowd in minor barter of furs, trinkets, clothes, and little manufactured goods. His report was first base published in 1611 by Emanuel Van Meteren, an Antwerp émigré and the dutch consul at London. This provoke interest [ 302 ] in exploiting this raw trade resource, and it was the catalyst for dutch merchant-traders to fund more expeditions. In 1611–12, the Admiralty of Amsterdam sent two screen expeditions to find a passage to China with the yachts Craen and Vos, captained by Jan Cornelisz Mey and Symon Willemsz Cat, respectively. In four voyages made between 1611 and 1614, the area between contemporary Maryland and Massachusetts was explored, surveyed, and charted by Adriaen Block, Hendrick Christiaensen, and Cornelius Jacobsen Mey. The results of these explorations, surveys, and charts made from 1609 through 1614 were consolidated in Block ‘s map, which used the name New Netherland for the first time .
In terms of world history of geography and exploration, the VOC can be credited with putting most of Australia ‘s coast ( then Hollandia Nova and early names ) on the universe function, between 1606 and 1756. [ 303 ] [ 304 ] [ 305 ] [ 306 ] [ 307 ] [ 308 ] While Australia ‘s district ( primitively known as New Holland ) never became an actual Dutch colonization or colony, [ 59 ] dutch navigators were the first to unarguably explore and map australian coastline. In the seventeenth hundred, the VOC ‘s navigators and explorers charted about three-quarters of Australia ‘s coastline, except its east slide. The dutch ship, Duyfken, led by Willem Janszoon, made the first document european land in Australia in 1606. [ 309 ] Although a theory of portuguese discovery in the 1520s exists, it lacks definitive evidence. [ 310 ] [ 311 ] [ 312 ] Precedence of discovery has besides been claimed for China, [ 313 ] France, [ 314 ] Spain, [ 315 ] India ,. [ 316 ] Hendrik Brouwer ‘s discovery of the Brouwer Route, that sailing east from the Cape of Good Hope until land was sighted and then sailing north along the west slide of Australia was a much quicker route than around the coast of the indian Ocean, made Dutch landfalls on the west coast inevitable. The first such landfall was in 1616, when Dirk Hartog landed at Cape Inscription on what is now known as Dirk Hartog Island, off the coast of western Australia, and left behind an dedication on a pewter plate. In 1697 the Dutch captain Willem de Vlamingh landed on the island and discovered Hartog ‘s plate. He replaced it with one of his own, which included a replicate of Hartog ‘s inscription, and took the original denture home to Amsterdam, where it is distillery kept in the Rijksmuseum Amsterdam. In 1627, the VOC ‘s explorers François Thijssen and Pieter Nuyts discovered the south coast of Australia and charted about 1,800 kilometres ( 1,100 nautical mile ) of it between Cape Leeuwin and the Nuyts Archipelago. [ 317 ] [ 318 ] François Thijssen, captain of the embark ‘t Gulden Zeepaert ( The Golden Seahorse ), sailed to the east adenine far as Ceduna in South Australia. The first known ship to have visited the sphere is the Leeuwin ( “ Lioness ” ), a dutch vessel that charted some of the nearby coastline in 1622. The log of the Leeuwin has been lost, indeed identical small is known of the ocean trip. however, the land discovered by the Leeuwin was recorded on a 1627 map by Hessel Gerritsz : Caert va n’t Landt van d’Eendracht ( “ Chart of the Land of Eendracht ” ), which appears to show the seashore between contemporary Hamelin Bay and Point D’Entrecasteaux. Part of Thijssen ‘s map shows the islands St Francis and St Peter, now known jointly with their respective groups as the Nuyts Archipelago. Thijssen ‘s observations were included vitamin a soon as 1628 by the VOC cartographer Hessel Gerritsz in a chart of the Indies and New Holland. This ocean trip defined most of the southerly slide of Australia and discouraged the impression that “ New Holland “ as it was then known, was linked to Antarctica. In 1642, Abel Tasman sailed from Mauritius and on 24 November, sighted Tasmania. He named Tasmania Anthoonij vanguard Diemenslandt ( Anglicised as Van Diemen ‘s Land ), after Anthony van Diemen, the VOC ‘s Governor General, who had commissioned his voyage. [ 319 ] [ 320 ] [ 321 ] It was officially renamed Tasmania in honor of its first european finder on 1 January 1856. [ 322 ] In 1642, during the like dispatch, Tasman ‘s crowd discovered and charted New Zealand ‘s coastline. They were the first Europeans known to reach New Zealand. Tasman anchored at the northern end of the South Island in Golden Bay / Mohua ( he named it Murderers ‘ Bay ) in December 1642 and sailed north to Tonga following a clash with local Māori. Tasman sketched sections of the two main islands ‘ west coasts. Tasman called them Staten Landt, after the States General of the Netherlands, and that name appeared on his inaugural maps of the state. In 1645 dutch cartographers changed the name to Nova Zeelandia in Latin, from Nieuw Zeeland, after the dutch state of Zeeland. It was subsequently Anglicised as New Zealand by James Cook. Various claims have been made that New Zealand was reached by other non- polynesian voyagers before Tasman, but these are not wide accepted .

criticism [edit ]

The VOC ‘s economic activity in Mauritius largely contributed to the extinction of the dodo, a flightless bird that was endemic to the island. The first recorded mention of the dodo was by dutch navigators in the belated 1590s . 1663 CE. Natives of Arakan sell slaves to the Dutch East India Company, c.1663 CE .
The company has been criticised for its quasi-absolute commercial monopoly, colonialism, exploitation ( including manipulation of slave british labour party ), slave deal, practice of violence, environmental end ( including deforestation ), and for its excessively bureaucratic organizational structure. [ 40 ] Batavia, corresponding to show day Jakarta, was the headquarters of the Dutch East India Company, and had a hard-and-fast social hierarchy in the colony. According to Marsely L. Kahoe in The Journal of Historians of Netherlandish Art, “ it is misleading to understand Batavia, as some scholars have, as representing a matter-of-fact and egalitarian order that was late corrupted by the colonial situation. In fact, the sociable stratification and segregation of Batavia derived in certain ways immediately from its Dutch design. ” [ 325 ] many employees of the VOC died ascribable to inordinately high mortality. [ why? ] Between 1602 and 1795, about one million seamen and craftsmen departed from Holland, but merely 340,000 returned. J.L. van Zanden writes “ the VOC ‘consumed ‘ approximately 4,000 people per year. ” [ 326 ]

colonialism, monopoly and violence [edit ]

Your Honours know by feel that trade in Asia must be driven and maintained under the security and favor of Your Honours ‘ own weapons, and that the weapons must be paid for by the profits from the trade ; so that we can not carry on trade without war nor war without trade .Jan Pieterszoon Coen, the VOC’s de facto chief executive [in the East Indies], to the Heeren XVII, the VOC’s board of directors [in the Dutch Republic], in 1614[327]

The VOC lease allowed it to act as a quasi-sovereign state of matter, and engaged in brutal conquests. [ 328 ] One case is the dutch seduction of the Banda Islands, between 1609 and 1621, after the islands resisted the nutmeg monopoly. The Dutch launched punitive expeditions that resulted in the near end of Bandanese society. [ 329 ] They invaded the chief Bandanese island of Lontor in 1621. 2,800 Bandanese were killed, largely from famine, and 1,700 were enslaved during the attack. [ 330 ] The sum population of the islands is estimated at 15,000 people before the conquest. Although the demand number remains uncertain, it is estimated that around 14,000 people were killed, enslaved or fled elsewhere, with only 1,000 Bandanese surviving in the islands, and were spread throughout the nutmeg groves as pull labourers. [ 331 ] The treatment of slaves was severe—the native Bandanese population dropped to 1,000 by 1681. [ 328 ] 200 slaves were imported per annum to sustain the slave population at a full of 4,000. [ 332 ]

dutch slave trade and slavery under the VOC colonial rule [edit ]

By the time the settlement was established at the Cape in 1652, the VOC already had a retentive experience of practicing bondage in the East Indies. Jan vanguard Riebeeck concluded within two months of the constitution of the Cape settlement that slave tug would be needed for the hardest and dirtiest work. initially, the VOC considered enslaving men from the autochthonal Khoikhoi population, but the estimate was rejected on the grounds that such a policy would be both costly and dangerous. Most Khoikhoi had chosen not to undertaking for the Dutch because of low wages and harsh conditions. In the beginning, the settlers traded with the Khoikhoi but the harsh work conditions and low wages imposed by the dutch led to a series of wars. The european population remained under 200 during the settlement ‘s first five years, and war against neighbors numbering more than 20,000 would have been foolhardy. furthermore, the dutch feared that Khoikhoi people, if enslaved, could always escape into the local anesthetic community, whereas foreigners would find it much more unmanageable to elude their “ masters. ” [ 333 ] between 1652 and 1657, a phone number of unsuccessful attempts were made to obtain men from the Dutch East Indies and from Mauritius. In 1658, however, the VOC landed two shiploads of slaves at the Cape, one containing more than 200 people brought from Dahomey ( subsequently Benin ), the second with about 200 people, most of them children, captured from a portuguese slaver off the seashore of Angola. Except for a few individuals, these were to be the lone slaves ever brought to the Cape from West Africa. [ 333 ] From 1658 to the end of the caller ‘s convention, many more slaves were brought regularly to the Cape in respective ways, chiefly by Company-sponsored slave voyages and slaves brought to the Cape by its render fleets. From these sources and by natural growth, the slave population increased from zero in 1652 to about 1,000 by 1700. During the eighteenth century, the slave population increased dramatically to 16,839 by 1795. After the slave deal was initiated, all of the slaves imported into the Cape until the british stopped the deal in 1807 were from East Africa, Mozambique, Madagascar, and South and Southeast Asia. large numbers were brought from Ceylon and the indonesian archipelago. Prisoners from other countries in the VOC ‘s empire were besides enslaved. The slave population, which exceeded that of the european settlers until the first quarter of the nineteenth century, was overwhelmingly male and was therefore dependent on ceaseless imports of new slaves to maintain and to augment its size. [ 333 ] By the 1660s the Cape village was importing slaves from Ceylon, Malaya ( Malaysia ), and Madagascar to work on the farms. [ 334 ] Conflict between Dutch farmers and Khoikhoi broke out once it became clear to the latter that the Dutch were there to stay and that they intended to encroach on the lands of the pastoralists. In 1659 Doman, a Khoikhoi who had worked as a translator for the Dutch and had even traveled to Java, led an armed attack to expel the dutch from the Cape peninsula. The try was a failure, although war dragged on until an inconclusive peace was established a year late. During the follow ten, imperativeness on the Khoikhoi grew as more of the Dutch became free burghers, expanded their landholdings, and sought pasture for their growing herds. War broke out again in 1673 and continued until 1677, when Khoikhoi resistance was destroyed by a combination of superior european weapons and Dutch manipulation of divisions among the local people. thereafter, Khoikhoi society in the western Cape disintegrated. Some people found jobs as shepherds on european farms ; others rejected extraneous rule and moved away from the Cape. The final examination shock for most came in 1713 when a dutch ship brought smallpox to the Cape. Hitherto nameless locally, the disease ravaged the remaining Khoikhoi, killing 90 percentage of the population. [ 333 ] Throughout the eighteenth century, the village continued to expand through home growth of the european population and the continue importing of slaves. The approximately 3,000 Europeans and slaves at the Cape in 1700 had increased by the end of the century to closely 20,000 Europeans, and approximately 25,000 slaves. [ 333 ]

cultural depictions [edit ]

The Flying Dutchman by by Albert Pinkham Ryder, c. 1887 ( Smithsonian American Art Museum ). The caption of the Flying Dutchman is likely to have originated from the 17th-century gold age of the VOC .

VOC World etymologies [edit ]

Places and things named after the VOC, its people and properties ( VOC World eponym ) [edit ]

For the full moon list of places explored, mapped, and named by people of the VOC, see List of station names of Dutch origin

Places and things named by VOC people [edit ]

populate places established by VOC people [edit ]

Populated places ( including cities, towns and villages ) established/founded [ aj ] by people of the Dutch East India Company ( VOC ) .

significant inheritance sites in the VOC World [edit ]

Buildings and structures [edit ]

Archives and records [edit ]

The VOC ‘s operations ( trade posts and colonies ) produced not lone warehouses packed with spices, chocolate, tea, textiles, porcelain and silk, but besides shiploads of documents. Data on political, economic, cultural, religious, and social conditions spread over an enormous area circulated between the VOC establishments, the administrative center of the trade in Batavia ( contemporary Jakarta ), and the board of directors ( the Heeren XVII [ nl ] /Gentlemen Seventeen ) in the Dutch Republic. [ 339 ] The VOC records are included in UNESCO ‘s memory of the World Register. [ 340 ]

field of VOC World studies [edit ]

The Dutch East India Company ( VOC ), as a historical transcontinental company-state, is one of the best expertly researched business enterprises in history. For about 200 years of the ship’s company ‘s universe ( 1602–1800 ), the VOC had effectively transformed itself from a corporate entity into a state, an empire, or even a world in its own right. [ 341 ] The VOC World ( i.e. networks of people, places, things, activities, and events associated with the Dutch East India Company ) has been the subject of a huge sum of literature, including works of fiction and non-fiction. VOC World studies ( much included within a broader field of early-modern Dutch ball-shaped worldly concern studies ) is an international multidisciplinary field focused on social, cultural, religious, scientific, technical, economic, fiscal, commercial enterprise, nautical, military, political, legal, diplomatic activities, administration and administration of the VOC and its colorful world. As North & Kaufmann ( 2014 ) notes, “ the Dutch East India Company ( VOC ) has long attracted the attention of eruditeness. Its drawn-out history, far-flung enterprises, and the survival of massive amounts of software documentation – literally 1,200 meters of essays pertaining to the VOC may be found in the National Archives in The Hague, and many more documents are scattered in archives throughout Asia and in South Africa – have stimulated many works on economic and social history. important publications have besides appeared on the deal, ship, institutional arrangement, and administration of the VOC. Much has besides been learned about the VOC and Dutch colonial societies. furthermore, the TANAP ( Towards a New Age of Partnership, 2000–2007 ) plan has created momentum for inquiry on the relationship between the VOC and autochthonal societies. In line, the function of the VOC in cultural history and specially in the history of ocular and material acculturation has not even attracted comparable matter to. To be certain, journals and other travel accounts ( some even with illustrations ) by soldiers, shippers, and VOC officials among others have been utilized as sources. ” [ 262 ] VOC eruditeness is highly specialized in general, such as archaeological studies of the VOC World. Some of the luminary VOC historians/scholars include Sinnappah Arasaratnam, Leonard Blussé, Peter Borschberg, Charles Ralph Boxer, Jaap R. Bruijn, Femme Gaastra, Om Prakash, Nigel Worden and Ian Burnet. [ 342 ] [ 343 ]

VOC World archeology [edit ]

VOC timeline and historical firsts in the VOC World [edit ]

The publication of the Theatrum Orbis Terrarum by Abraham Ortelius in 1570 marked the official beginning of the Golden Age of Netherlandish mapmaking ( c. 1570s–1670s ). In the Golden Age of Dutch exploration and discovery ( c. 1590s–1720s ), the Dutch Republic ‘s seafarers and explorers ( including the VOC ‘s navigators ) became the first non-natives to unarguably discover, explore and map coastlines of the australian continent ( including Mainland Australia, Tasmania, and their surround islands ), New Zealand, Tonga, and Fiji .

Proto-VOC time period [edit ]

VOC era [edit ]

gallery [edit ]

See besides [edit ]

Other trading companies in the Age of Sail

Notes [edit ]

References [edit ]

bibliography [edit ]

• Balk, G.L.; van Dijk, F.; Kortlang, D.J.; Gaastra, F.S.: The Archives of the Dutch East India Company (VOC) and the Local Institutions in Batavia (Jakarta). (Leiden: Brill, 2007) ISBN 9789004163652)
• Boxer, C.R. “The Dutch East India Company and the China Trade” History Today (Nov 1979), Vol. 29 Issue 11, p741–750; covers 1600 to 1800; online
• Gaastra, Femme: De geschiedenis van de VOC. (Zutphen: Walburg Pers, 1991) [in Dutch]
• Gaastra, Femme: The Dutch East India Company: Expansion and Decline. (Zutphen: Walburg Pers, 2003)
• Landwehr, J.; van der Krogt, P.: VOC: A Bibliography of Publications Relating to the Dutch East India Company, 1602–1800. (Utrecht: HES, 1991)
• Meilink-Roelofsz, M.A.P.; van Opstall, M.E.; Schutte, G.J. (eds.): Dutch Authors on Asian History: A Selection of Dutch Historiography on the Verenigde Oostindische Compagnie. (Dordrecht: KITLV, 1988)
• Meilink-Roelofsz, M.A.P.; Raben, R.; Spijkerman, H. (eds.): De Archieven van de Verenigde Oostindische Compagnie (1602–1795) [The Archives of the Dutch East India Company (1602–1795)]. (‘s-Gravenhage: SDU Uitgeveri, 1992) [in Dutch]
• Gerritsen, Rupert (ed.): A translation of the charter of the Dutch East Indies Company (Verenigde Oostindische Compagnie or VOC): Granted by the States General of the United Netherlands, 20 March 1602. Translated from the Dutch by Peter Reynders. (Canberra: Australia on the Map Division of the Australasian Hydrographic Society, 2009)