To what extent did the role of trading companies in imperial expansion change in the years 1680-1763?
The role of trading companies in imperial expansion changed to an extent during the years 1680-1763 as they contributed to the countries economic growth, therefore increasing its power. As companies such as the East India Company, South Sea Company and the Royal African Company became more successful and powerful, Britain’s international relationships were strengthened and provided the ability for a gradual conversion from trading presence to political presence in locations such as the Indian subcontinent, the slave coast and the gold coast.
The East India Company was granted a charter in the 1600’s, however in 1670, Charles II allowed them …show more content…
As a result of this debt, trade became open in 1698, ending the Royal African Company’s individual significance in the presence of the empire. However it did still manage to contribute to the economy, which as a result helped fund efforts for imperial expansion, due to the 10% act, meaning 10% of other companies profits went to the Royal African Company until it’s liquidation. Despite its monopoly ending, it opened up trade, which then resulted in a larger British presence as more individual companies traded with Africa, meaning imperial connections were not entirely lost after the liquidation of the company.
In addition to these two companies, the South Sea Company was also trading during this period. Formed in 1711, it was granted Asiento – rights from the Spanish to trade with their South American territories. Although the Asiento was predicted to be more beneficial than it actually was, leading to ill judged investment in the company and financial
The role of trading companies in imperial expansion changed to an extent during the years 1680-1763 as they contributed to the countries economic growth, therefore increasing its power. As companies such as the East India Company, South Sea Company and the Royal African Company became more successful and powerful, Britain’s international relationships were strengthened and provided the ability for a gradual conversion from trading presence to political presence in locations such as the Indian subcontinent, the slave coast and the gold coast.
The East India Company was granted a charter in the 1600’s, however in 1670, Charles II allowed them …show more content…
As a result of this debt, trade became open in 1698, ending the Royal African Company’s individual significance in the presence of the empire. However it did still manage to contribute to the economy, which as a result helped fund efforts for imperial expansion, due to the 10% act, meaning 10% of other companies profits went to the Royal African Company until it’s liquidation. Despite its monopoly ending, it opened up trade, which then resulted in a larger British presence as more individual companies traded with Africa, meaning imperial connections were not entirely lost after the liquidation of the company.
In addition to these two companies, the South Sea Company was also trading during this period. Formed in 1711, it was granted Asiento – rights from the Spanish to trade with their South American territories. Although the Asiento was predicted to be more beneficial than it actually was, leading to ill judged investment in the company and financial