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Empresa holandesa das Índias Orientais.
A Companhia Holandesa das Índias Orientais (Dutch: Vereenigde Oost-Indische Compagnie, COV, "United East India Company") foi uma companhia fretada estabelecida em 1602, quando os Estados-Gerais dos Países Baixos concederam-lhe um monopólio de 21 anos para realizar o colonial atividades na Ásia. Muitas vezes, é considerado como sendo a primeira corporação multinacional no mundo [2] e foi a primeira empresa a emitir ações. [3] Também foi indiscutivelmente a primeira megacorporação, possuindo poderes quase governamentais, incluindo a capacidade de fazer guerra, prender e executar condenados, [4] negociar tratados, dinheiro de moedas e estabelecer colônias. [5]
Estatisticamente, o COV eclipsou todos os seus rivais no comércio da Ásia. Entre 1602 e 1796, o VOC enviou quase um milhão de europeus para trabalhar no comércio da Ásia em 4.785 navios, e compensou por seus esforços mais de 2,5 milhões de toneladas de bens comerciais asiáticos. Em contrapartida, o resto da Europa combinado enviou apenas 882.412 pessoas de 1500 a 1795, e a frota da empresa inglesa (mais tarde britânica) das Índias Orientais, o concorrente mais próximo do COV, foi um segundo distante do seu tráfego total com 2.690 navios e um mero um quinto da tonelagem de mercadorias transportadas pelos COV. O COV obteve grandes lucros com seu monopólio de especiarias durante a maior parte do século XVII. [6]
Tendo sido criada em 1602, para lucrar com o comércio de especiarias de Malukan, em 1619 o VOC estabeleceu uma capital na cidade portuária de Batavia (agora Jacarta). Nos dois séculos seguintes, a Companhia adquiriu portos adicionais como bases de negociação e salvaguardou seus interesses ao assumir o território circundante. [7] Permaneceu uma importante preocupação comercial e pagou um dividendo anual de 18% por quase 200 anos. [8]
Pesada pela corrupção no final do século 18, a Companhia faliu e foi formalmente dissolvida em 1800, [8] suas posses e a dívida assumida pelo governo da República Batavista Holandesa. Os territórios dos COV tornaram-se as Índias Orientais Holandesas e foram expandidos ao longo do século XIX para incluir todo o arquipélago indonésio e, no século 20, formaria a Indonésia.
História.
Fundo.
Durante o século 16, o comércio de Spice foi dominado pelos portugueses que usaram Lisboa como um porto básico. Antes da revolta holandesa, Antuérpia desempenhou um papel importante como centro de distribuição no norte da Europa. No entanto, depois de 1591, os portugueses usavam um sindicato internacional dos alemães Fuggers e Welsers, e empresas espanholas e italianas, que usavam o Hamburgo como seu porto básico para distribuir seus bens, reduzindo assim os comerciantes holandeses.
Ao mesmo tempo, o sistema comercial português não conseguiu aumentar o suprimento para satisfazer a crescente demanda, em particular a demanda de pimenta. A demanda de especiarias foi relativamente inelástica e, portanto, cada defasagem no suprimento de pimenta causou um aumento acentuado dos preços da pimenta.
Além disso, como Portugal estava unido à coroa espanhola, com a qual a República Holandesa estava em guerra em 1580, o Império Português tornou-se um alvo apropriado para incursões militares holandesas. Esses três fatores motivaram os comerciantes holandeses a entrar no próprio comércio de especiarias intercontinental. Além disso, vários holandeses como Jan Huyghen van Linschoten e Cornelis de Houtman obtiveram conhecimento de primeira mão das rotas e práticas comerciais "secretas" portuguesas, proporcionando assim oportunidade. [9]
O estágio foi definido para a expedição exploratória de quatro navios de Houtman para Banten, o principal porto de pimenta do oeste de Java, onde entraram em confronto com os indonésios portugueses e indígenas. A expedição de Houtman então navegou para o leste ao longo da costa norte de Java, perdendo doze tripulações para um ataque javanesa em Sidayu e matando um governante local em Madura. A metade da equipe estava perdida antes que a expedição voltasse para a Holanda no ano seguinte, mas com especiarias suficientes para fazer um lucro considerável. [10]
Em 1598, um número crescente de frotas foram enviadas por grupos comerciais concorrentes de toda a Holanda. Algumas frotas foram perdidas, mas a maioria foi bem-sucedida, com algumas viagens produzindo altos lucros. Em março de 1599, uma frota de oito navios sob Jacob van Neck foi a primeira frota holandesa a chegar às Ilhas Spice de Maluku. Os navios voltaram para a Europa em 1599 e 1600 e a expedição ganhou 400% de lucro. [10]
Em 1600, os holandeses uniram forças com os húngaros muçulmanos na Ilha de Ambon em uma aliança anti-portuguesa, em troca de que os holandeses tiveram o direito exclusivo de comprar especiarias da Hitu. [11] O controle holandês de Ambon foi alcançado quando os portugueses renderam seu forte em Ambon à aliança holandesa-hulha. Em 1613, os holandeses expulsaram os portugueses do seu forte de Solor, mas um posterior ataque português levou a uma segunda mudança de mão; Após esta segunda reocupação, os holandeses novamente capturaram Solor, em 1636. [11]
Ao leste de Solor na ilha de Timor, os avanços holandeses foram interrompidos por um grupo autônomo e poderoso de euro-asiáticos portugueses chamado Topasses. Eles permaneceram no controle do comércio de Sandalwood e sua resistência durou todo o século 17 e 18, fazendo com que Timor Ocidental permaneça sob a esfera de controle portuguesa. [12] [13]
Formação (1602)
Na época, era costume que uma empresa fosse criada apenas pela duração de uma única viagem e fosse liquidada após o retorno da frota. O investimento nestas expedições foi um empreendimento de alto risco, não só por causa dos perigos habituais da pirataria, da doença e do naufrágio, mas também porque a interação da demanda inelástica e do fornecimento relativamente elástico [14] de especiarias poderia fazer baixar os preços apenas momento errado, arruinando perspectivas de rentabilidade. Para gerir esse risco, a formação de um cartel para controlar o suprimento parece lógico. Os ingleses foram os primeiros a adotar essa abordagem, juntando seus recursos em uma empresa de monopólio, a empresa inglesa das Índias Orientais em 1600, ameaçando assim seus concorrentes holandeses com a ruína. [15]
Em 1602, o governo holandês seguiu o exemplo, patrocinando a criação de uma única "United East Indies Company", que também foi concedido monopólio sobre o comércio asiático. A carta patente da nova empresa permitiu construir fortes, manter exércitos e concluir tratados com governantes asiáticos. Forneceu um empreendimento que continuaria por 21 anos, com uma contabilidade financeira apenas no final de cada década. [15]
Em 1603, o primeiro posto de negociação holandês permanente na Indonésia foi estabelecido em Banten, West Java e em 1611, outro foi estabelecido em Jayakarta (mais tarde, 'Batavia' e depois 'Jacarta'). [16] Em 1610, o VOC estabeleceu o cargo de Governador-Geral para controlar mais firmemente seus assuntos na Ásia. Para aconselhar e controlar o risco dos Governadores Gerais despóticos, foi criado um Conselho das Índias (Raad van Indië). O Governador Geral efetivamente tornou-se o principal administrador das atividades de COV na Ásia, embora o Heeren XVII, um corpo de 17 acionistas que representam diferentes câmaras, continuou a ter controle oficial oficialmente. [11]
A sede da COV estava localizada em Ambon durante os mandatos dos três primeiros governadores gerais (1610-1619), mas não era um local satisfatório. Embora estivesse no centro das áreas de produção de especiarias, estava longe das rotas comerciais asiáticas e de outras áreas de atividades COV que variavam de África ao Japão. Uma localização no oeste do arquipélago foi assim procurada; O Estreito de Malaca era estratégico, mas tornou-se perigoso após a conquista portuguesa e o primeiro assentamento permanente de COV em Banten foi controlado por um poderoso governante local e sujeito a uma forte concorrência dos comerciantes chineses e ingleses. [11]
Em 1604, uma segunda viagem inglesa da Companhia das Índias Orientais comandada por Sir Henry Middleton chegou às ilhas de Ternate, Tidore, Ambon e Banda; Em Banda, eles encontraram uma severa hostilidade de COV, que viu o início da competição anglo-holandesa pelo acesso a especiarias. [16] De 1611 a 1617, os ingleses estabeleceram postos comerciais em Sukadana (sudoeste de Kalimantan), Makassar, Jayakarta e Jepara em Java, e Aceh, Pariaman e Jambi em Sumatra, que ameaçavam as ambições holandesas pelo monopólio do comércio das Índias Orientais. [16]
Os acordos diplomáticos na Europa, em 1620, inauguraram um período de cooperação entre os holandeses e os ingleses sobre o comércio de especiarias. [16] Isso terminou com um incidente notório, mas disputado, conhecido como o "massacre de Amboyna", onde dez ingleses foram presos, julgados e decapitados por conspiração contra o governo holandês. [17] Embora isso tenha causado indignação na Europa e uma crise diplomática, os ingleses retiraram-se silenciosamente da maioria das suas atividades indonésias (exceto o comércio em Bantam) e se concentraram em outros interesses asiáticos.
Em 1619, Jan Pieterszoon Coen foi nomeado Governador-Geral do COV. Ele viu a possibilidade de o COV se tornar um poder asiático, tanto político como econômico. Em 30 de maio de 1619, Coen, apoiado por uma força de dezenove navios, invadiu Jayakarta para expulsar as forças de Banten; e das cinzas estabeleceram Batavia como sede da VOC. Na década de 1620, quase toda a população nativa das Ilhas Banda foi afugentada, morrendo de fome ou morta na tentativa de substituí-las por plantações holandesas. [18] Estas plantações foram usadas para crescer cravo-da-índia e noz-moscada para exportação. Coen esperava estabelecer um grande número de colonos holandeses nas Índias Orientais, mas a implementação desta política nunca se materializou, principalmente porque muito poucos holandeses estavam dispostos a emigrar para a Ásia. [19]
Outro dos empreendimentos de Coen foi mais bem sucedido. Um problema importante no comércio europeu com a Ásia na época era que os europeus podiam oferecer alguns bens que os consumidores asiáticos queriam, exceto prata e ouro. Os comerciantes europeus, portanto, tiveram que pagar por especiarias com os metais preciosos, e isso era escasso na Europa, exceto Espanha e Portugal. O holandês e o inglês tiveram que obtê-lo criando um superávit comercial com outros países europeus. Coen descobriu a solução óbvia para o problema: iniciar um sistema comercial intra-asiático, cujos lucros poderiam ser usados ​​para financiar o comércio de especiarias com a Europa. A longo prazo, isso evitou a necessidade de exportações de metais preciosos da Europa, embora no início exigisse a formação de um grande fundo de capital comercial nas Índias. O VOC reinvestiu uma grande parcela de seus lucros para este fim no período até 1630. [20]
Os COV trocados em toda a Ásia. Os navios que chegaram à Batavia na Holanda forneceram suprimentos para assentamentos de COV na Ásia. Prata e cobre do Japão foram utilizados para negociar com a Índia e a China para seda, algodão, porcelana e têxteis. Estes produtos foram comercializados na Ásia para as especiarias cobiçadas ou trazidos de volta à Europa. O COV também contribuiu para a introdução de idéias e tecnologia européias para a Ásia. A Companhia apoiou missionários cristãos e negociou tecnologia moderna com a China e o Japão. Um posto de comércio de COV mais pacífico em Dejima, uma ilha artificial ao largo da costa de Nagasaki, foi durante mais de duzentos anos, o único lugar onde os europeus foram autorizados a negociar com o Japão. [21]
Em 1640, o VOC obteve o porto de Galle, Ceilão, dos portugueses e quebrou o monopólio do comércio de canela. Em 1658, Gerard Pietersz. Hulft sitiou Colombo, que foi capturado com a ajuda do Rei Rajasinghe II de Kandy. Em 1659, os portugueses tinham sido expulsos das regiões costeiras, que eram então ocupadas pelos COV, assegurando o monopólio da canela. Para evitar que os portugueses ou os ingleses retomassem o Sri Lanka, o COV passou a conquistar toda a costa de Malabar dos portugueses, quase totalmente levando-os da costa oeste da Índia. Quando a notícia de um acordo de paz entre Portugal e os Países Baixos atingiu a Ásia em 1663, Goa era a única cidade portuguesa restante na costa oeste. [22]
Em 1652, Jan van Riebeeck estabeleceu um posto avançado no Cabo da Boa Esperança (a ponta sudoeste da África, atualmente na África do Sul) para reabastecer navios de COV em sua jornada para o Leste Asiático. Esta publicação mais tarde se tornou uma colônia de pleno direito, a Colônia do Cabo, quando mais holandeses e outros europeus começaram a se estabelecer ali.
Os postos de comércio de COV também foram estabelecidos na Pérsia, Bengala, Malaca, Sião, Cantão, Formosa (agora Taiwan), bem como as costas Malabar e Coromandel na Índia. Em 1662, no entanto, Koxinga expulsou os holandeses de Taiwan [23] (ver História de Taiwan).
Em 1663, os VOC assinaram "Tratado de Painan" com vários senhores locais na área de Painan que se revoltaram contra o Sultanato de Aceh. O tratado resultou em VOC para construir um posto comercial na área e, eventualmente, monopolizar o comércio lá, especialmente no comércio de ouro. [1]
Em 1669, o VOC era a empresa privada mais rica que o mundo já havia visto, com mais de 150 navios mercantes, 40 navios de guerra, 50 mil funcionários, um exército privado de 10 mil soldados e um pagamento de dividendos de 40% sobre o investimento original. [24]
Muitos dos funcionários dos COV se misturaram com os povos indígenas e expandiram a população mestiça de Indos na história pré-colonial [25] [26]
Reorientação.
Por volta de 1670, dois eventos provocaram a queda do comércio de COV. Em primeiro lugar, o comércio altamente lucrativo com o Japão começou a diminuir. A perda do posto avançado em Formosa para Koxinga e a turbulência interna relacionada na China (onde a dinastia Ming estava sendo substituída pela dinastia Qing) acabou com o comércio de seda depois de 1666. Embora o VOC substituído Bengali pela seda chinesa outras forças afetaram a fornecimento de prata e ouro japoneses. O shogunato promulgou uma série de medidas para limitar a exportação desses metais preciosos, no processo que limita as oportunidades de COV para o comércio e agrava severamente os termos de troca. Portanto, o Japão deixou de funcionar como o linchamento do comércio intra-asiático do COV em 1685. [27]
Mais importante ainda, a Terceira Guerra Anglo-Holandesa interrompeu temporariamente o comércio de COV com a Europa. Isso causou um pico no preço da pimenta, o que atraiu a empresa inglesa das Índias Orientais (EIC) a entrar agressivamente neste mercado nos anos que se seguiram a 1672. Anteriormente, um dos princípios da política de preços VOC era sobrecarregar um pouco a pimenta mercado, de modo a diminuir os preços abaixo do nível em que os intrusos foram encorajados a entrar no mercado (em vez de se esforçar para a maximização do lucro a curto prazo). A sabedoria de tal política foi ilustrada quando ocorreu uma feroz guerra de preços com o EIC, já que essa empresa inundou o mercado com novos estoques da Índia. Nesta luta pela quota de mercado, os COV (que tinham recursos financeiros muito maiores) podiam aguardar o EIC. De fato, em 1683, o último ficou perto da falência; o preço da ação caiu de 600 para 250; e seu presidente Josiah Child foi forçado temporariamente do cargo. [28]
No entanto, a escrita estava na parede. Outras empresas, como a francesa East India Company e a Danish East India Company também começaram a fazer incursões no sistema holandês. O VOC, portanto, fechou o emporium de pimenta aberta até agora florescente de Bantam por um tratado de 1684 com o sultão. Além disso, na Costa do Coromandel, mudou sua principal fortaleza de Pulicat para Negapatnam, de modo a garantir o monopólio do comércio de pimenta em detrimento dos franceses e dos dinamarqueses. [29] No entanto, a importância destas commodities tradicionais no comércio asiático-europeu estava diminuindo rapidamente na época. Os desembolsos militares que o COV precisava fazer para aumentar o seu monopólio não eram justificados pelo aumento dos lucros desse comércio em declínio. [30]
No entanto, esta lição foi lenta para se afundar e, em primeiro lugar, o COV tomou a decisão estratégica de melhorar sua posição militar na Costa de Malabar (com a esperança de reduzir a influência inglesa na área e acabar com a drenagem de seus recursos com o custo da Guarnições de Malabar) usando a força para obrigar o Zamorin de Calicut a submeter-se à dominação holandesa. Em 1710, o Zamorin foi feito para assinar um tratado com o compromisso de COV para negociar exclusivamente com os COV e expulsar outros comerciantes europeus. Por um curto período de tempo, isso pareceu melhorar as perspectivas da empresa. No entanto, em 1715, com o incentivo do EIC, o Zamorin renunciou ao tratado. Embora um exército holandês tenha conseguido suprimir esta insurreição temporariamente, o Zamorin continuou a negociar com os ingleses e os franceses, o que levou a um aumento notável no tráfego inglês e francês. O COV decidiu em 1721 que já não valia a pena tentar dominar o comércio de pimenta e especiarias Malabar. Uma decisão estratégica foi tomada para reduzir a presença militar neerlandesa e, de fato, render a área para a influência do EIC. [31]
A Batalha de Colachel de 1741 por Nairs of Travancore sob Raja Marthanda Varma foi, portanto, uma ação de retaguarda. O comandante holandês, o capitão Eustachius De Lannoy, foi capturado. Marthanda Varma concordou em poupar a vida do capitão holandês com a condição de se juntar ao seu exército e treinar seus soldados em linhas modernas. Esta derrota na Guerra Travancore-Holandesa é considerada o primeiro exemplo de um poder organizado asiático que supera as técnicas e táticas militares europeias; e sinalizou o declínio do poder holandês na Índia. [32]
A tentativa de continuar como antes, como uma empresa de negócios de baixo volume e alto lucro, com seu core business no comércio de especiarias, falhou. No entanto, a Companhia já (relutantemente) seguiu o exemplo de seus competidores europeus na diversificação em outras commodities asiáticas, como chá, café, algodão, têxteis e açúcar. Essas commodities proporcionaram uma menor margem de lucro e, portanto, exigiu um maior volume de vendas para gerar a mesma receita. Essa mudança estrutural na composição de commodities do comércio de COV começou no início da década de 1680, após o colapso temporário do EIC em torno de 1683, ofereceu uma excelente oportunidade para entrar nesses mercados. A verdadeira causa da mudança está, no entanto, em duas características estruturais desta nova era.
Em primeiro lugar, houve uma mudança revolucionária nos gostos que afetam a demanda européia por têxteis asiáticos, e café e chá, em torno da virada do século XVIII. Em segundo lugar, uma nova era de abundante oferta de capital a baixas taxas de juros de repente abriu por esse tempo. O segundo fator permitiu à Companhia financiar facilmente sua expansão nas novas áreas de comércio. [33] Entre os anos 1680 e 1720, o COV conseguiu equipar e promover uma expansão apreciável de sua frota e adquirir uma grande quantidade de metais preciosos para financiar a compra de grandes quantidades de produtos asiáticos, para embarque para a Europa. O efeito geral foi aproximadamente dobrar o tamanho da empresa. [34]
A tonelagem dos navios que retornam aumentou 125% neste período. No entanto, a receita da Companhia com a venda de bens desembarcados na Europa aumentou apenas 78%. Isso reflete a mudança básica nas circunstâncias dos COV que ocorreram: agora operava em novos mercados para produtos com demanda elástica, nos quais teve que competir em pé de igualdade com outros fornecedores. Isso fez com baixas margens de lucro. [35] Infelizmente, os sistemas de informação comercial do tempo tornaram isso difícil discernir para os gerentes da empresa, o que pode explicar em parte os erros que eles fizeram de retrospectiva. Essa falta de informação poderia ter sido contrariada (como em tempos anteriores na história do COV) pela perspicácia empresarial dos diretores. Infelizmente, por essa altura, estes foram quase exclusivamente recrutados na classe política do regente, que desde há muito perdeu sua estreita relação com os círculos mercantes. [36]
As baixas margens de lucro em si não explicam a deterioração das receitas. Em grande medida, os custos da operação do COV tinham um caráter "fixo" (estabelecimentos militares, manutenção da frota e tal). Os níveis de lucros podem, portanto, ter sido mantidos se o aumento da escala das operações de negociação que de fato tenha ocorrido, resultou em economias de escala. No entanto, embora os navios maiores tenham transportado o crescente volume de mercadorias, a produtividade do trabalho não aumentou o suficiente para realizar isso. Em geral, os custos indiretos da Companhia aumentaram o crescimento do volume comercial; margens brutas declinantes traduzidas diretamente em uma queda na rentabilidade do capital investido. A era da expansão foi um "crescimento sem lucro". [37]
Concretamente: "[o] lucro médio anual a longo prazo na" Era de Ouro "dos COV's foi de 2,1 milhões de florins, dos quais apenas metade da metade foi distribuída como dividendos eo restante reinvestido. O lucro anual médio de longo prazo em A "Idade de Expansão" (1680-1730) foi de 2,0 milhões de florins, dos quais três quartos foram distribuídos como dividendos e um quarto reinvestido. No período anterior, os lucros proveram 18% das receitas totais, no último período, 10% O retorno anual do capital investido no período anterior situou-se em aproximadamente 6%, no último período, 3,4%. " [37]
No entanto, aos olhos dos investidores, os COV não fizeram muito mal. O preço das ações pairava consistentemente em torno da marca de 400 de meados da década de 1680 (com exceção de um soluço em torno da Revolução Gloriosa em 1688), e atingiram um máximo histórico de cerca de 642 na década de 1720. As quotas de COV renderam um retorno de 3,5%, apenas um pouco menos do que o rendimento dos títulos do governo holandeses. [38]
Gravação de Colombo, por volta de 1680.
Panorama de Ayutthaya no Bushuis, Amsterdã.
O navio Vryburg em um prato, encomendado em 1756.
Pintura anônima com Table Mountain no fundo, 1762.
Armazém da empresa holandesa das Índias Orientais e moradias em Surat.
No entanto, a partir daí, as fortunas do COV começaram a diminuir. Cinco grandes problemas, não todos de igual peso, podem ser aduzidos para explicar seu declínio nos próximos cinquenta anos até 1780. [39]
Houve uma erosão constante do comércio intra-asiático por mudanças no ambiente político e econômico asiático que o COV poderia fazer pouco. Esses fatores gradualmente esmagaram a empresa da Pérsia, Suratte, Malabar Coast e Bengala. A empresa teve que limitar suas operações ao cinto que controlava fisicamente, do Ceilão através do arquipélago indonésio. O volume desse comércio intra-asiático e sua rentabilidade, portanto, teve que encolher. A forma como a empresa foi organizada na Ásia (centralizada em seu hub na Batavia) que inicialmente ofereceu vantagens na coleta de informações do mercado, começou a causar desvantagens no século 18, devido à ineficiência do primeiro envio de tudo para este ponto central. Esta desvantagem foi mais sentida no comércio de chá, onde competidores como o EIC e a Ostend Company embarcaram diretamente da China para a Europa. A "venalidade" do pessoal do COV (no sentido da corrupção e do incumprimento dos deveres), embora um problema para todas as empresas do Leste-Índia na época, parece ter atormentado o VOC em uma escala maior do que seus concorrentes. Com certeza, a empresa não era um "bom empregador". Os salários eram baixos e o "comércio de contas privadas" não era oficialmente permitido. Não surpreendentemente, proliferou no século 18 em detrimento do desempenho da empresa. [40] A partir da década de 1790, a frase pereceu pela corrupção (também abreviado VOC em holandês) veio resumir o futuro da empresa. Um problema que o COV compartilhou com outras empresas foi a alta taxa de mortalidade e morbidade entre seus funcionários. Isso dizificou as fileiras da empresa e enervou muitos dos sobreviventes. Uma ferida auto-infligida foi a política de dividendos do COV. Os dividendos distribuídos pela empresa excederam o excedente acumulado na Europa em cada década, exceto um (1710-1720) de 1690 a 1760. No entanto, no período até 1730, os diretores enviaram recursos para a Ásia para construir o capital comercial lá . A contabilidade consolidada, portanto, provavelmente teria demonstrado que o lucro total excedia os dividendos. Além disso, entre 1700 e 1740 a empresa retirou 5,4 milhões de floriculturas de dívida de longo prazo. A empresa, portanto, ainda estava em condições financeiras seguras nestes anos. Isso mudou depois de 1730. Enquanto os lucros caíram, os bewindhebbers diminuíram ligeiramente os dividendos do nível anterior. Os dividendos distribuídos foram, portanto, superiores aos ganhos em cada década, exceto um (1760-1770). Para conseguir isso, o capital social asiático teve que ser retirado por 4 milhões de florins entre 1730 e 1780, e o capital líquido disponível na Europa foi reduzido em 20 milhões de florins no mesmo período. Os diretores foram, portanto, obrigados a reabastecer a liquidez da empresa, recorrendo ao financiamento a curto prazo de empréstimos antecipados, respaldados pelas receitas esperadas das frotas domiciliadas.
Apesar de tudo isso, o COV em 1780 permaneceu uma operação enorme. Sua capital na República, composta por navios e bens em inventário, totalizava 28 milhões de florins; A sua capital na Ásia, composta pelo fundo de negociação líquida e bens a caminho da Europa, totalizou 46 milhões de florins. O capital total, líquido de dívida pendente, era de 62 milhões de florins. As perspectivas da empresa neste momento, portanto, não precisam ter sido desesperadas, teve um dos muitos planos para reformar, foi levado com sucesso na mão. No entanto, a quarta guerra anglo-holandesa interveio. Os ataques britânicos na Europa e na Ásia reduziram a frota de COV pela metade; retirou carga valiosa de seu controle; e devastou o poder restante na Ásia. As perdas diretas do VOC podem ser calculadas em 43 milhões de florins. Os empréstimos para manter a empresa operacional reduziram seus ativos líquidos para zero. [41]
A partir de 1720, o mercado de açúcar da Indonésia diminuiu à medida que a concorrência de açúcar barato do Brasil aumentou. Os mercados europeus ficaram saturados. Dezenas de comerciantes chineses de açúcar entraram em falência, o que levou a um desemprego maciço, que por sua vez levou a gangues de coolies desempregados. O governo holandês na Batávia não respondeu adequadamente a esses problemas. Em 1740, rumores de deportação das gangues da região de Batavia levaram a tumultos generalizados. Os militares holandeses procuraram as casas de chineses em Batavia por armas. Quando uma casa acidentalmente queimada, cidadãos militares e empobrecidos começaram a abater e saquear a comunidade chinesa. [42] Este massacre dos chineses foi considerado suficientemente grave para o conselho do COV para iniciar uma investigação oficial sobre o Governo das Índias Orientais Holandesas pela primeira vez em sua história.
Após a Quarta Guerra Anglo-Holandesa, o VOC foi um naufrágio financeiro, e após as inúmeras tentativas dos Estados provinciais da Holanda e da Zelândia de reorganizá-lo, foi nacionalizada em 1 de março de 1796 [43] pela nova República da Batavia. Sua carta foi renovada várias vezes, mas permitiu expirar em 31 de dezembro de 1800. [43] A maioria das posses dos antigos COV foram posteriormente ocupadas pela Grã-Bretanha durante as guerras napoleônicas, mas após o novo Reino Unido da Holanda foi criado por o Congresso de Viena, alguns deles foram restaurados a este estado sucessor da antiga República Holandesa pelo Tratado Anglo-Holandês de 1814.
A família Wright, proprietários da Voyager Estate em Margaret River, Austrália Ocidental, adquiriu o nome e a marca de COV em 1995. [44]
Organização.
O COV tinha dois tipos de acionistas: os participantes, que podiam ser vistos como parceiros não gerentes, e os 76 candidatos (mais tarde reduzidos para 60) que atuavam como parceiros de gerenciamento. Esta era a configuração habitual das sociedades anônimas neerlandesas no momento. A inovação no caso do COV era que a responsabilidade não apenas do participante, mas também dos futuros líderes era limitada ao capital integralizado (geralmente, as pessoas que apresentavam responsabilidade ilimitada). Por conseguinte, o COV era uma sociedade de responsabilidade limitada. Além disso, a capital seria permanente durante a vida da empresa. Como conseqüência, os investidores que desejavam liquidar seu interesse no ínterim só poderiam fazer isso vendendo sua participação a outros na Bolsa de Valores de Amsterdã. [45]
O COV consistiu em seis Câmaras (Kamers) em cidades portuárias: Amsterdã, Delft, Roterdã, Enkhuizen, Middelburg e Hoorn. Os delegados destas câmaras se reuniram como Heeren XVII (os Lordes dezessete). Eles foram selecionados do grupo de acionistas da Bewindhebber. [46]
Do Heeren XVII, oito delegados eram da Câmara de Amsterdã (um pouco de uma maioria por conta própria), quatro da Câmara da Zelândia e um de cada uma das câmaras menores, enquanto o décimo sétimo lugar era alternativamente da Câmara de Zeeland ou girou entre as cinco câmaras pequenas. Amsterdam tinha, portanto, a voz decisiva. Os Zeelanders, em particular, tinham dúvidas sobre esse arranjo no início. O medo não era infundado, porque na prática significava que Amsterdã estipulava o que aconteceu.
As seis câmaras levantaram a capital inicial da Dutch East India Company:
O aumento de capital em Roterdã não foi tão suave. Uma parte considerável originou-se de habitantes de Dordrecht. Embora não tenha aumentado tanto capital como Amsterdã ou Zelândia, a Enkhuizen teve o maior contributo para o capital social do COV. Under the first 358 shareholders, there were many small entrepreneurs, who dared to take the risk. The minimum investment in the VOC was 3,000 guilders, which priced the Company's stock within the means of many merchants. [ 47 ]
Among the early shareholders of the VOC, immigrants played an important role. 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 le Maire was the largest subscriber with ƒ85,000. VOC's total capitalization was ten times that of its British rival.
The logo of the VOC consisted of a large capital 'V' with an O on the left and a C on the right leg. It appeared on various corporate items, such as cannons and the coin illustrated above. The first letter of the hometown of the chamber conducting the operation was placed on top (see figure for example of the Amsterdam chamber logo). The flag of the company was orange, white, blue (see Dutch flag) with the company logo embroidered on it.
The Heeren XVII (Lords Seventeen) met alternately 6 years in Amsterdam and 2 years in Middelburg. They defined the VOC's general policy and divided the tasks among the Chambers. The Chambers carried out all the necessary work, built their own ships and warehouses and traded the merchandise. The Heeren XVII sent the ships' masters off with extensive instructions on the route to be navigated, prevailing winds, currents, shoals and landmarks. The VOC also 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 also established in the East Indies, such as on the Spice Islands (Moluccas), 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 violent suppression of the native population, including mass murder. [ 48 ] In addition, VOC representatives sometimes used the tactic of burning spice trees in order to force indigenous populations to grow other crops, thus artificially cutting the supply of spices like nutmeg and cloves. [ 49 ]
VOC outposts.
Organization and leadership structures were varied as necessary in the various VOC outposts:
Opperhoofd is a Dutch word (plural Opperhoofden ) which literally means 'supreme head[man]'. In this VOC context, the word is a gubernatorial title, comparable to the English Chief factor, for the chief executive officer of a Dutch factory in the sense of trading post, as led by a Factor, i. e. agent.
Council of Justice in Batavia.
The Council of Justice in Batavia was the appelate court for all the other VOC Company posts in the VOC empire.
Notable VOC ships.
Amsterdam (R) Arnhem Batavia (R) Braek Concordia Duyfken ("Little Dove") (R) Eendracht (1615) ("Unity") Galias Grooten Broeck ("Great Brook") Gulden Zeepaert ("Golden Seahorse") Halve Maen ("Half moon") (R) Hoogkarspel Heemskerck Hollandia Klein Amsterdam ("Small Amsterdam") Leeuwerik ("Lark") Leyden Limmen Mauritius Meermin Pera Prins Willem ("Prince William") (R) Ridderschap van Holland ("Knighthood of Holland") Rooswijk Sardam Texel Utrecht Vergulde Draeck ("Gilded Dragon") Vianen Vliegende Hollander ("Flying Dutchman") Vliegende Swaan ("Flying Swan") Wapen van Hoorn ("Arms of Hoorn") Wezel ("Weasel") Zeehaen ("Sea Cock") Zeemeeuw ("Seagull") Zeewijk Zuytdorp ("South Village")
Other trade companies of the age of the sail.
Governors General of the Dutch East India Company.
Referências.
^ "The Dutch East India Company (VOC)". Canon van Nederland . entoen. nu/voc/en . Retrieved 19 March 2018 . & # 160; ^ kb. nl/dossiers/voc/voc. html VOC at the National Library of the Netherlands (in Dutch) ^ Mondo Visione web site: Chambers, Clem. "Who needs stock exchanges?" Exchanges Handbook . -- retrieved 21 August 2018. ^ "Slave Ship Mutiny: Program Transcript". Secrets of the Dead . PBS. 2018-11-11 . pbs/wnet/secrets/transcripts/slave-ship-mutiny-program-transcript/755/ . Retrieved 2018-11-12 . & # 160; ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . pp. 102–103. & # 160; ^ Van Boven, M. W.. "Towards A New Age of Partnership (TANAP): An Ambitious World Heritage Project (UNESCO Memory of the World – reg. form, 2002)". VOC Archives Appendix 2, p.14 . portal. unesco/ci/en/files/22635/11546101681netherlands_voc_archives. doc/netherlands%2Bvoc%2Barchives. doc . & # 160; ^ Vickers (2005), p. 10 ^ a b Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 110. ISBN 0-333-57689-6. & # 160; ^ De Vries and Van der Woude, p. 383 ^ a b Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 27. ISBN 0-333-57689-6. & # 160; ^ a b c d Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 25–28. ISBN 0-333-57689-6. & # 160; ^ (Portuguese) Matos, Artur Teodoro de (1974), Timor Portugues, 1515-1769 , Lisboa: Instituto Histórico Infante Dom Henrique. ^ (Dutch) Roever, Arend de (2002), De jacht op sandelhout: De VOC en de tweedeling van Timor in de zeventiende eeuw , Zutphen: Walburg Pers. ^ In the medium term, as new suppliers could enter the market. In the short term the supply was, of course, also inelastic. ^ a b De Vries and Van der Woude, p. 384-385 ^ a b c d Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 29. ISBN 0-333-57689-6. & # 160; ^ Miller, George (ed.) (1996). To The Spice Islands and Beyond: Travels in Eastern Indonesia . New York: Oxford University Press. xvi. ISBN 967-65-3099-9. & # 160; ^ Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. p. 30. ISBN 0-333-57689-6. & # 160; ^ The Dutch Seaborne Empire 1600-1800, p.218 ^ De Vries and Van der Woude, p. 386 ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . p. 115. & # 160; ^ VOC Warfare - political interaction ^ Andrade, Tonio (2005). How Taiwan Became Chinese: Dutch, Spanish and Han Colonization in the Seventeenth Century . Columbia University Press . gutenberg-e/andrade/andrade11.html#s02/ . & # 160; ^ The share price had appreciated significantly, so in that respect the dividend was less impressive ^ De Witt, D.. "The Easternization of the West: The Role of Melaka, the Malay-Indonesian archipelago and the Dutch (VOC). (International seminar by the Melaka State Government, the Malaysian Institute of Historical and Patriotism Studies (IKSEP), the Institute of Occidental Studies (IKON) at the National University of Malaysia (UKM) and the Netherlands Embassy in Malaysia. Malacca, Malaysia, 27 July 2006". Children of the VOC at . dutchmalaysia/press/Easternization. html .   ^ Blusse, Leonard. Strange company: Chinese settlers, Mestizo women, and the Dutch in VOC Batavia. (Dordrecht-Holland; Riverton, U. S.A., Foris Publications, 1986. xiii, 302p.) number: 959.82 B659 .   ^ De Vries and Van der Woude, pp. 434-435 ^ De Vries and Van der Woude, pp. 430-433 ^ During the Nine Year's War, the French and Dutch companies came to blows on the Indian Subcontinent. The French sent naval e xpeditions from metropolitan France, which the VOC easily countered. On the other hand, the VOC conquered the important fortress of Pondichérie after a siege of only sixteen days by an expedition of 3000 men and 19 ships under Laurens Pit from Negapatnam in September 1693. The Dutch then made the defenses of the fortress impregnable, which they came to regret when the Dutch government returned it to the French by the Treaty of Ryswick in exchange for tariff concessions in Europe by the French. Chauhuri and Israel, p 424 ^ De Vries and Van der Woude, pp. 433-434 ^ Chaudhuri and Israel, pp. 428-429 ^ However, the VOC had been defeated many times before. On the Indian Subcontinent, the EIC had suffered a resounding defeat from the Mughal forces in its 1689 Mughal War; Chaudhury and Israel, pp. 435-436 ^ It was also helpful that the price war with the EIC in the early decade had caused the accumulation of enormous inventories of pepper and spices, which enabled the VOC to cut down on shipments later on, thereby freeing up capital to increase shipments of other goods;De Vries and Van der Woude, p. 436 ^ De Vries and Van der Woude, pp.436-437 ^ De Vries and Van der Woude, pp. 437-440 ^ De Vries and Van der Woude, pp. 441-442 ^ a b De Vries and Van der Woude, p. 447 ^ De Vries and Van der Woude, p. 448 ^ De Vries and Van der Woude, pp.449-455 ^ A particularly egregious example was that of the "Amfioen Society". This was a business of higher VOC-employees that received a monopoly of the opium trade on Java, at a time when the VOC had to pay monopoly prices to the EIC to buy the opium in Bengal; Burger, passim ^ De Vries and Van der Woude, pp.454-455 ^ Kumar, Ann (1997). Java and Modern Europe: Ambiguous Encounters . p. 32. & # 160; ^ a b TANAP, The end of the VOC ^ "Voyager Estate and the VOC". Voyager Estate (WA) Pty Ltd . voyagerestate. au/pv_2_2_4_voc. asp . Retrieved 21 Nov 2018 . & # 160; ^ De Vries and Van der Woude, p. 385 ^ De Vries and Van der Woude, pp.384-385 ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . p. 103. & # 160; ^ Hanna, Willard A. (1991). Indonesian Banda: Colonialism and its Aftermath in the Nutmeg Islands. Bandanaira: Yayasan Warisan dan Budaya Banda Naira. ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . p. 111. & # 160;
Leitura adicional.
Ames, Glenn J. The Globe Encompassed: The Age of European Discovery, 1500-1700 . Pearson Prentice Hall, 2008. Blussé, L. et al. , eds. The Deshima [sic] Dagregisters: Their Original Tables of Content. Leiden, 1995-2001. Blussé, L. et al. , eds. The Deshima Diaries Marginalia 1740-1800. Tokyo, 2004. Boxer, C. R. Jan Compagnie in Japan, 1600-1850: An Essay on the Cultural Aristic and Scientific Influence Exercised by the Hollanders in Japan from the Seventeenth to the Nineteenth Centuries. Den Haag, 1950. Boxer, C. R. The Dutch Seaborne Empire: 1600-1800. London, 1965. Bruijn, J. R., Femme Gaastra, and I. Schöffer, eds., Dutch-Asiatic shipping in the 17th and 18th centuries . Rijks geschiedkundige publicatiën. Grote serie, vol. 165-167. (The Hague: Nijhoff, 1979, 1987). Burger, M. (2003), "The Forgotten Gold? The Importance of the Dutch opium trade in the Seventeenth Century", in Eidos. University College Utrecht Academic Magazine . Issue 2/2003 Utrecht University Chaudhuri, K. N., and Israel, J. I. (1991), "The English and Dutch East India Companies and the Glorious Revolution of 1688-9", in: Israel, J. I. (ed.) , The Anglo-Dutch moment. Essays on the Glorious Revolution and its world impact , Cambridge U. P, ISBN 0-521-39075-3, pp. 407–438 De Lange, William. (2006) Pars Japonica: the first Dutch expedition to reach the shores of Japan , Floating World Editions. ISBN 1-891640-23-2 Vries, J. de, and Woude, A. van der (1997), The First Modern Economy. Success, Failure, and Perseverance of the Dutch Economy, 1500-1815 , Cambridge University Press, ISBN 978-0-521-57825-7 Furber, Holden, Rival Empires of Trade in the Orient 1600-1800 . Minneapolis, 1976 Israel, Jonathan I., Dutch Primacy in World Trade 1585-1740 . Oxford, 1989 Glamann, Kristof., Dutch-Asiatic Trade 1620-1740 . The Hague, 1958.
Links externos.
Dutch India — a chronology of Dutch rule in India Oldest share — the oldest share in the world (VOC 1606) A taste of adventure — The history of spices is the history of trade, The Economist , 17 December 1998. Dutch Portuguese Colonial History Voyages by VOC ships to Australia Why did the Largest Corporation in the World go Broke? The history of the Dutch East Indies Company (Lectures at Gresham College, 1 March and 8 March 2006) Manuscript chart of the Netherlands, VOC, ca.1690 (high resolution zoomable scan) Old print of headquarters of V. O.C. ca.1750 (high resolution zoomable scan) Death of an East Indiaman Towards a New Age of Partnership; a Dutch/Asian/South-African programme of cooperation based on a mutual past (TANAP) - joint archival project of UNESCO, and the Netherlands and Indonesian national archives on the VOC: "An Ambitious World Heritage" . tanap/content/about/heritage. cfm . & # 160; VOC voyages - online database of voyages of VOC ships Atlas of Mutual Heritage - online atlas of VOC settlements VOC shipwrecks database (Dutch) Database of VOC crew members VOC Warfare Website on the military aspects of the history of the VOC.
Berbice 1 Cayenne Curaçao and Dependencies Demerara Essequibo Brazil New Netherland Pomeroon Sint Eustatius and Dependencies Surinam 2 Tobago Virgin Islands.
1 Governed by the Society of Berbice 2 Governed by the Society of Suriname.
3 Became constituent countries of the Kingdom of the Netherlands; Suriname gained full independence in 1975, Curaçao and Dependencies was renamed to the Netherlands Antilles, which was eventually dissolved in 2018.
Dutch East India Company Nordic Company New Netherland Company Dutch West India Company Ostend Company.
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the National Archives of Indonesia holds the largest archive collection related to the Dutch East India Company worldwide? the Mattancherry Palace , known popularly as Dutch Palace, in Kochi, India, was built by the Portuguese and renovated by the Dutch? the island of Hsiao Liuchiu off Taiwan was the scene of a massacre of 300 native inhabitants by Dutch soldiers and allied Formosan warriors in 1636? those villages defeated by the Dutch pacification campaign on Formosa signalled their surrender by sending small betel nut trees to their conquerors? when VOC forces led by Steven van der Hagen captured a Portuguesefort on Ambon in 1605, it was the first territory captured by the Dutch Republic in the East Indies? the Jakarta History Museum was formerly used as the administrative headquarters of the Dutch East India Company? the naval victory of Travancore State over Dutch East India Company in the Battle of Colachel in 1741 is considered the first example of an Asian power defeating a European navy? Reynier van Vlissingen, the Dutch Governor of Negapatam in India, surrendered to British forces in the 1781 Siege of Negapatam because the garrison had only one day of gunpowder remaining? during the history of Pulicat between 1621 and 1665, over 38,000 Indian slaves were obtained by Dutch slave traders and shipped from the Coromandel Coast, mostly to the East Indies? in 1693 Sheikh Yusuf of Makassar, Indonesia, was exiled by the Dutch East India Company to South Africa, where he established the first Muslim community in the Cape? the 1609 Treaty of Antwerp was influenced by the writings of Hugo Grotius in the Mare Liberum , which was published at the insistence of the Dutch East India Company during the course of the treaty negotiations? Jan van Riebeeck established the first vineyards in South Africa to help Dutch East India Company sailors ward off scurvy while traveling the spice route?
Enciclopédia.
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The Dutch East India Company ( Vereenigde Oost-Indische Compagnie or VOC in Dutch, literally "United East Indian Company") was a chartered company established in 1602, when the States-General of the Netherlands granted it a 21-year monopoly to carry out colonial activities in Asia. It was the first multinational corporation in the world and the first company to issue stock. [ 1 ] It was also arguably the world's first megacorporation, possessing quasi-governmental powers, including the ability to wage war, negotiate treaties, coin money, and establish colonies. [ 2 ]
Statistically, the VOC eclipsed all of its rivals in the Asia trade. Between 1602 and 1796 the VOC sent almost 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 only 882,412 people from 1500 to 1795, and the fleet of the English (later British) East India Company, the VOC’s nearest competitor, was a distant second to its total traffic with 2,690 ships and a mere one-fifth the tonnage of goods carried by the VOC. The VOC enjoyed huge profits from its spice monopoly through most of the 1600s. [ 3 ]
The Dutch East India Company remained an important trading concern for almost two centuries, paying an 18% annual dividend for almost 200 years. In its declining years in the late 18th century it was referred to as Vergaan Onder Corruptie (referring to the acronym VOC) which translates as 'Perished By Corruption'. The VOC became bankrupt and was formally dissolved in 1800, [ 4 ] its possessions and the debt being taken over by the government of the Dutch Batavian Republic. The VOC's territories became the Dutch East Indies and were expanded over the course of the 19th century to include the whole of the Indonesian archipelago, and in the 20th century would form Indonesia.
História.
Fundo.
During the 16th century, the spice trade was dominated by the Portuguese who used Lisbon as a staple port. Before the Dutch Revolt, Antwerp had played an important role as a distribution center in northern Europe, but after 1591 the Portuguese used an international syndicate of the German Fuggers and Welsers, and Spanish and Italian firms that used Hamburg as its northern staple, to distribute their goods, thereby cutting out Dutch merchants. At the same time, the Portuguese trade system was so inefficient that it was unable to supply growing demand, in particular the demand for pepper. The demand for spices was relatively inelastic, and the lagging supply of pepper therefore caused a sharp rise in pepper prices at the time.
Likewise, as Portugal had been "united" with the Spanish crown, with which the Dutch Republic was at war, in 1580, the Portuguese Empire became an appropriate target for military incursions. These three factors formed motive for Dutch merchants to enter the intercontinental spice trade themselves at this time. Finally, a number of Dutchmen like Jan Huyghen van Linschoten and Cornelis de Houtman obtained first hand knowledge of the "secret" Portuguese trade routes and practices, thereby providing opportunity. [ 5 ] The stage was thus set for Houtman's four-ship exploratory expedition to Banten, the main pepper port of West Java, where they clashed with both the Portuguese and indigenous Indonesians. Houtman's expedition then sailed east along the north coast of Java, losing twelve crew to a Javanese attack at Sidayu and killing a local ruler in Madura. Half the crew were lost before the expedition made it back to the Netherlands the following year, but with enough spices to make a considerable profit. [ 6 ]
In 1598, an increasing number of new 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 first Dutch fleet to reach the ‘Spice Islands’ of Maluku. The ships returned to Europe in 1599 and 1600 and the expedition made a 400 percent profit. [ 6 ] In 1600, the Dutch joined forces with the local Hituese (near Ambon) in an anti-Portuguese alliance, in return for which the Dutch were given the sole right to purchase spices from Hitu. [ 7 ] Dutch control of Ambon was achieved in alliance with Hitu when in February 1605, they prepared to attack a Portuguese fort in Ambon but the Portuguese surrendered. In 1613, the Dutch expelled the Portuguese from their Solor fort, but a subsequent Portuguese attack led to a second change of hands; following this second reoccupation, the Dutch once again captured Solor, in 1636. [ 7 ]
At the time, it was customary for a company to be set up only for the duration of a single voyage, and to be liquidated right after the return of the fleet. Investment in these expeditions was a very high-risk venture, not only because of the usual dangers of piracy, disease and shipwreck, but also because the interplay of inelastic demand and relatively elastic supply [ 8 ] of spices could make prices tumble at just the wrong moment, thereby ruining prospects of profitability. To manage such risk the forming of a cartel to control supply would seem logical. This first occurred to the English, who bundled their forces into a monopoly enterprise, the East India Company in 1600, thereby threatening their Dutch competitors with ruin. In 1602, the Dutch government followed suit, sponsoring the creation of a single "United East Indies Company" that was also granted a monopoly over the Asian trade. The charter of the new company empowered it to build forts, maintain armies, and conclude treaties with Asian rulers. It provided for a venture that would continue for 21 years, with a financial accounting only at the end of each decade. [ 9 ]
In 1603, the first permanent Dutch trading post in Indonesia was established in Banten, West Java and in 1611, another was established at Jayakarta (later 'Batavia' and then 'Jakarta'). [ 10 ] In 1610, the VOC established the post of Governor General to enable firmer control of 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 effectively became the main administrator of the VOC's activities in Asia, although the Heeren XVII continued to officially have overall control. [ 7 ]
VOC headquarters were in Ambon for the tenures of the first three Governors General (1610-1619), but it was not a satisfactory location. Although it was at the centre of the spice production areas, it was far from the Asian trade routes and other VOC areas of activity ranging from Africa to Japan. A location in the west of the archipelago was thus sought; the Straits of Malacca were strategic, but had become dangerous following the Portuguese conquest and the first permanent VOC settlement in Banten was controlled by a powerful local ruler and subject to stiff competition from Chinese and English traders. [ 7 ]
In 1604, a second English East India Company voyage commanded by Sir Henry Middleton reached the islands of Ternate, Tidore, Ambon and Banda; in Banda, they encountered severe VOC hostility, which saw the beginning of Anglo-Dutch competition for access to spices. [ 10 ] 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 trade. [ 10 ] Diplomatic agreements in Europe in 1620 ushered in a period of cooperation between the Dutch and the English over the spice trade. [ 10 ] This ended with a notorious, but disputed incident, known as the 'Amboyna massacre', where ten Englishmen were arrested, tried and beheaded for conspiracy against the Dutch government. [ 11 ] Although this caused outrage in Europe and a diplomatic crisis, the English quietly withdrew from most of their Indonesian activities (except trading in Bantam) and focused on other Asian interests.
In 1619, Jan Pieterszoon Coen was appointed Governor-General of the VOC. He was a man of extraordinary vision, far beyond that of the cautious directors at home. He saw the possibility of the VOC becoming an Asian power, both political and economic. He was not afraid to use brute force to put the VOC on a firm footing. 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 almost the entire native population of the Banda Islands was driven away, starved to death, or killed in an attempt to replace them with Dutch plantations. These plantations were used to grow cloves and nutmeg for export. Coen hoped to settle large numbers of Dutch colonists in the East Indies, but this part of his policies never materialized, because the Heren XVII were wary at the time of large, open-ended financial commitments. [ 12 ]
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 therefore had to pay for spices with the precious metals, and this was in short supply in Europe, except for Spain and Portugal. The Dutch and English had to obtain it by creating a trade surplus 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 trade with Europe. In the long run this obviated the need for exports of precious metals from Europe, though at first it required the formation of a large trading-capital fund in the Indies. The VOC reinvested a large share of its profits to this end in the period up to 1630. [ 13 ] The VOC traded throughout Asia. Ships coming into Batavia from the Netherlands carried supplies for VOC settlements in Asia. Silver and copper from Japan were used to trade with India and China for silk, cotton, porcelain, and textiles. These products were either traded within Asia for the coveted spices or brought back to Europe. The VOC was also instrumental in introducing European ideas and technology to Asia. The Company supported Christian missionaries and traded modern technology with China and Japan. A more peaceful VOC trade post 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. [ 14 ]
In 1640, the VOC obtained the port of Galle, Sri Lanka, from the Portuguese and broke the latter's monopoly of the cinnamon trade. In 1658, Gerard Hulft laid siege to Colombo, which was captured with the help 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 entire Malabar Coast upon the Portuguese, almost entirely 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 coast. [ 15 ]
In 1652, Jan van Riebeeck established an outpost at the Cape of Good Hope (the southwestern tip of Africa, currently in South Africa) to re-supply VOC ships on their journey to East Asia. This post later became a full-fledged colony, the Cape Colony, when more Dutch and other Europeans started to settle there.
VOC trading posts were also established in Persia (now Iran), Bengal (now Bangladesh, but then part of India), Malacca (Melaka, now in Malaysia), Siam (now Thailand), mainland China (Canton), Formosa (now Taiwan) and the Malabar Coast and Coromandel Coast in India. In 1662, however, Koxinga expelled the Dutch from Taiwan ( see History of Taiwan).
By 1669, the VOC was the richest private company 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 payment of 40% on the original investment. [ 16 ]
Many of the VOC employees inter-mixed with the indigenous peoples and expanded the Mestizo population of Indos in pre-colonial history [ 17 ] [ 18 ] .
Reorientation.
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 outpost on Formosa to Koxinga and related internal turmoil in China (where the Ming dynasty was being replaced with the Qing dynasty) brought an end to the silk trade after 1666. Though the VOC substituted Bengali for Chinese silk other forces affected the supply of Japanese silver and gold. The shogunate enacted a number of measures to limit the export of these precious metals, in the process limiting VOC opportunities for trade, and severely worsening the terms of trade. Therefore, Japan ceased to function as the lynchpin of the intra-Asiatic trade of the VOC by 1685. [ 19 ]
Even more importantly, the Third Anglo-Dutch War temporarily interrupted VOC trade with Europe. This caused a spike in the price of pepper, which enticed the British East India Company (EIC) to aggressively enter this market in the years after 1672. Previously, one of the tenets of the VOC pricing policy was to slightly over-supply the pepper market, so as to depress prices below the level where interlopers were encouraged to enter the market (instead of striving for short-term profit maximization). The wisdom of such a policy was illustrated when a fierce price war with the EIC ensued, as that company flooded the market with new supplies from India. In this struggle for market share, the VOC (which had much larger financial 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. [ 20 ]
However, the writing was on the wall. Other companies, like the French East India Company and the Danish East India Company also started to make inroads on the Dutch system. The VOC therefore closed the heretofore flourishing open pepper emporium of Bantam by a treaty of 1684 with the Sultan. Also, on the Coromandel Coast, it moved its chief stronghold from Pulicat to Negapatnam, so as to secure a monopoly on the pepper trade at the detriment of the French and the Danes. [ 21 ] However, the importance of these traditional commodities in the Asian-European trade was diminishing rapidly at the time. The military outlays that the VOC needed to make to enhance its monopoly were not justified by the increased profits of this declining trade. [ 22 ]
Nevertheless, this lesson was slow to sink in and at first the VOC made the strategic decision to improve its military position 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 force to compel the Zamorin of Calicut to submit to Dutch domination. In 1710, the Zamorin was made to sign a treaty with the VOC undertaking to trade exclusively 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 insurrection temporarily, the Zamorin continued to trade with the English and the French, which led to an appreciable upsurge in English and French traffic. The VOC decided in 1721 that it was no longer worth the trouble to try and dominate the Malabar pepper and spice trade. A strategic decision was taken to scale down the Dutch military presence and in effect yield the area to EIC influence. [ 23 ]
The 1741 Battle of Colachel by Nairs of Travancore under Raja Marthanda Varma was therefore a rearguard action. The Dutch commander Captain Eustachius De Lannoy was captured. Marthanda Varma agreed to spare the Dutch captain's life on condition that he joined his army and trained his soldiers on modern lines. This defeat in the Travancore-Dutch War is considered the earliest example of an organized Asian power overcoming European military technology and tactics; and it signaled the decline of Dutch power in India. [ 24 ]
The attempt to continue as before as a low volume-high profit business enterprise with its core business in the spice trade had therefore failed. The Company had however already (reluctantly) followed the example of its European competitors in diversifying into other Asian commodities, like tea, coffee, cotton, textiles, and sugar. These commodities provided a lower profit margin and therefore required a larger sales volume to generate the same amount of revenue. This structural change in the commodity composition of the VOC's trade started in the early 1680s, after the temporary collapse of the EIC around 1683 offered an excellent opportunity to enter these markets. The actual cause for the change lies, however, in two structural features of this new era.
In the first place, there was a revolutionary change in the tastes affecting European demand for Asian textiles, and coffee and tea, around the turn of the 18th century. Secondly, a new era of an abundant supply of capital at low interest rates suddenly opened around this time. The second factor enabled the Company to easily finance its expansion in the new areas of commerce. [ 25 ] Between the 1680s and 1720s, the VOC was therefore able to equip and man an appreciable expansion of its fleet, and acquire a large amount of precious metals to finance the purchase of large amounts of Asian commodities, for shipment to Europe. The overall effect was to approximately double the size of the company. [ 26 ]
The tonnage of the returning ships rose by 125 percent in this period. However, the Company's revenues from the sale of goods landed in Europe rose by only 78 percent. 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 equal footing with other suppliers. This made for low profit margins. [ 27 ] Unfortunately, the business information systems of the time made this difficult to discern for the managers of the company, which may partly 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 almost exclusively recruited from the political regent class, which had long since lost its close relationship with merchant circles. [ 28 ]
Low profit margins in themselves don't explain the deterioration of revenues. To a large extent the costs of the operation of the VOC had a "fixed" character (military establishments; maintenance of the fleet and such). Profit levels might therefore have been maintained if the increase in the scale of trading operations that in fact took place, had resulted in economies of scale. However, though larger ships transported the growing volume of goods, labor productivity did not go up sufficiently to realize these. In general the Company's overhead rose in step with the growth in trade volume; declining gross margins translated directly into a decline in profitability of the invested capital. The era of expansion was one of "profitless growth". [ 29 ]
Concretely: "[t]he long-term average annual profit in the VOC's 1630-70 'Golden Age' was 2.1 million guilders, of which just under half was distributed as dividends and the remainder reinvested. The long-term average annual profit in the 'Expansion Age' (1680-1730) was 2.0 million guilders, of which three-quarters was distributed as dividend and one-quarter reinvested. In the earlier period, profits averaged 18 percent of total revenues; in the latter period, 10 percent. The annual return of invested capital in the earlier period stood at approximately 6 percent; in the latter period, 3.4 percent." [ 29 ]
Nevertheless, in the eyes of investors the VOC did not do too badly. The share price hovered consistently around the 400 mark from the mid-1680s (which, during a hiccup around the Glorious Revolution in 1688), and they reached an all-time high of around 642 in the 1720s. VOC shares then yielded a return of 3.5 percent, only slightly less than the yield on Dutch government bonds. [ 30 ]
However, from there on the fortunes of the VOC started to decline. Five major problems, not all of equal weight, can be adduced to explain its decline in the next fifty years to 1780. [ 31 ]
There was a steady erosion of intra-Asiatic trade by changes in the Asiatic political and economic environment that the VOC could do little about. These factors gradually squeezed the company out of Persia, Surat, 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 organized in Asia (centralized 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. [ 32 ] From about the 1790s onward, the phrase perished by corruption (also abbreviated VOC in Dutch) came to summarize the company's future. A problem that the VOC shared with other companies was the high mortality and morbidity 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 but one (1710-1720) from 1690 to 1760. 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.
Despite of all this, the VOC in 1780 remained an enormous operation. Its capital in the Republic, consisting of ships and goods in inventory, totaled 28 million guilders; its capital in Asia, consisting of the liquid trading fund and goods en route to Europe, totaled 46 million guilders. Total capital, net of outstanding debt, stood at 62 million guilders. The prospects of the company at this time therefore need not have been hopeless, had one of the many plans to reform it been taken successfully in hand. However, then the Fourth Anglo-Dutch War intervened. British attacks in Europe and Asia reduced the VOC fleet by half; removed valuable cargo from its control; and devastated its remaining power in Asia. The direct losses of the VOC can be calculated at 43 million guilders. Loans to keep the company operating reduced its net assets to zero. [ 33 ]
From 1720 on, the market for sugar from Indonesia declined as the competition from cheap sugar from Brazil increased. European markets became saturated. Dozens of Chinese sugar 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, rumors of deportation of the gangs from the Batavia area led to widespread rioting. The Dutch military searched houses of Chinese in Batavia searching for weapons. When a house accidentally burnt down, military and impoverished citizens started slaughtering and pillaging the Chinese community. [ 34 ] This Chinese Massacre was deemed sufficiently serious for the board of the VOC to start an official investigation into the Government of the Dutch East Indies for the first time in its history.
After the Fourth Anglo-Dutch War, the VOC was a financial wreck, and after vain attempts by the provincial States of Holland and Zeeland to reorganize it, was nationalised on 1 March 1796 [ 35 ] by the new Batavian Republic. Its charter was renewed several times, but allowed to expire on 31 December 1800. [ 36 ] Most of the possessions of the former 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 state of the old Dutch Republic by the Anglo-Dutch Treaty of 1814.
Organização.
The VOC had two types of shareholders: the participanten , who could be seen as non-managing partners, and the 76 bewindhebbers (later reduced to 60) who acted as managing partners. This was the usual set-up for Dutch joint-stock companies at the time. The innovation in the case of the VOC was, that the liability of not just the participanten , but also of the bewindhebbers was limited to the paid-in capital (usually, bewindhebbers had unlimited liability). The VOC therefore was a limited-liability company. Also, the capital would be permanent during the lifetime of the company. As a consequence, investors that wished to liquidate their interest in the interim could only do this by selling their share to others on the Amsterdam Stock Exchange. [ 37 ]
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. [ 38 ]
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 Zeeland or rotated among the five small Chambers. Amsterdam had thereby the decisive voice. The Zeelanders in particular had misgivings about this arrangement at the beginning. The fear was not unfounded, because in practice it meant Amsterdam stipulated what happened.
The six chambers raised the start-up capital of the Dutch East India Company:
The raising of capital in Rotterdam did not go so smoothly. A considerable part originated from inhabitants of Dordrecht. Although it did not raise as much capital as Amsterdam or Zeeland, Enkhuizen had the largest input in the share capital of the VOC. Under the first 358 shareholders, there were many small entrepreneurs, who dared to take the risk. The minimum investment in the VOC was 3,000 guilders, which priced the Company's stock within the means of many merchants. [ 39 ]
Among the early shareholders of the VOC, immigrants played an important role. Under the 1,143 tenderers were 39 Germans and no fewer than 301 Zuid-Nederlanders (roughly present Belgium and Luxembourg, then under Habsburg rule), of whom Isaac le Maire was the largest subscriber with ƒ85,000. VOC's total capitalization was ten times that of its British rival.
The logo of the VOC consisted of a large capital 'V' with an O on the left and a C on the right leg. It appeared on various corporate items, such as cannons and the coin illustrated above. The first letter of the hometown of the chamber conducting the operation was placed on top (see figure for example of the Amsterdam chamber logo). The flag of the company was orange, white, blue (see Dutch flag) with the company logo embroidered on it.
The Heeren XVII (Lords Seventeen) met alternately 6 years in Amsterdam and 2 years in Middelburg. They defined the VOC's general policy and divided the tasks among the Chambers. The Chambers carried out all the necessary work, built their own ships and warehouses and traded the merchandise. The Heeren XVII sent the ships' masters off with extensive instructions on the route to be navigated, prevailing winds, currents, shoals and landmarks. The VOC also 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 also established in the East Indies, such as on the Spice Islands (Moluccas), which include the Banda Islands, where the VOC forcibly maintained a monopoly over nutmeg and mace. Methods used to maintain the monopoly included the violent suppression of the native population, not stopping short of extortion and mass murder. [ citation needed ] In addition, VOC representatives sometimes used the tactic of burning spice trees in order to force indigenous populations to grow other crops, thus artificially cutting the supply of spices like nutmeg and cloves. [ 40 ]
VOC outposts.
Organization and leadership structures were varied as necessary in the various VOC outposts:
See more at VOC Kapitans in India See more at VOC Factors in China.
Opperhoofd is a Dutch word (plural Opperhoofden ) which literally means 'supreme head[man]'. In this VOC context, the word is a gubernatorial title, comparable to the English Chief factor, for the chief executive officer of a Dutch factory in the sense of trading post, as lead by a Factor, i. e. agent.
Council of Justice in Batavia.
The Council of Justice in Batavia was the appelate court for all the other VOC Company posts in the VOC empire.
Notable VOC ships.
Amsterdam (R) Arnhem Batavia (R) Braek Concordia Duyfken ("Little Dove") (R) Eendracht (1615) ("Unity") Galias Grooten Broeck ("Great Brook") Gulden Zeepaert ("Golden Seahorse") Halve Maen ("Half moon") (R) Hoogkarspel Heemskerck Hollandia Klein Amsterdam ("Small Amsterdam") Leeuwerik ("Lark") Leyden Limmen Pera Prins Willem ("Prince William") (R) Ridderschap van Holland ("Knighthood of Holland") Rooswijk Sardam Texel Utrecht Vergulde Draeck ("Gilded Dragon") Vianen Vliegende Hollander ("Flying Dutchman") Vliegende Swaan ("Flying Swan") Wapen van Hoorn ("Arms of Hoorn") Wezel ("Weasel") Zeehaen ("Sea Cock") Zeemeeuw ("Seagull") Zeewijk Zuytdorp ("South Village")
Other trade companies of the age of the sail.
Governors General of the Dutch East India Company.
Famous people of the VOC.
Referências.
^ Mondo Visione web site: Chambers, Clem. "Who needs stock exchanges?" Exchanges Handbook . -- retrieved 1 February 2008. ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . p. 102–103. ^ Van Boven, M. W., ‘Towards A New Age of Partnership (TANAP): An Ambitious World Heritage Project’, (UNESCO Memory of the World – reg. form, 2002) VOC Archives Appendix 2, p.14 [1]. ^ Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 110. ISBN 0-333-57689-6. ^ De Vries and Van der Woude, p. 383 ^ a b Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 27. ISBN 0-333-57689-6. ^ a b c d Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 25–28. ISBN 0-333-57689-6. ^ In the medium term, as new suppliers could enter the market. In the short term the supply was, of course, also inelastic. ^ De Vries and Van der Woude, p. 384-385 ^ a b c d Ricklefs, M. C. (1991). A History of Modern Indonesia Since c.1300, 2nd Edition . London: MacMillan. pp. 29. ISBN 0-333-57689-6. ^ Miller, George (ed.) (1996). To The Spice Islands and Beyond: Travels in Eastern Indonesia . New York: Oxford University Press. xvi. ISBN 967-65-3099-9. ^ De Vries and Vander Woude, p. 386 ^ De Vries and Van der Woude, p. 386 ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . p. 115. ^ VOC Warfare - political interaction ^ The share price had appreciated significantly, so in that respect the dividend was less impressive ^ De Witt, D. ‘Children of the VOC’ at ‘The Easternization of the West: The Role of Melaka, the Malay-Indonesian archipelago and the Dutch (VOC).’ (International seminar by the Melaka State Government, the Malaysian Institute of Historical and Patriotism Studies (IKSEP), the Institute of Occidental Studies (IKON) at the National University of Malaysia (UKM) and the Netherlands Embassy in Malaysia. Malacca, Malaysia, 27th July 2006.)[2] ^ Blusse, Leonard. ’Strange company: Chinese settlers, Mestizo women, and the Dutch in VOC Batavia.’ (Dordrecht-Holland; Riverton, U. S.A., Foris Publications, 1986. xiii, 302p.) number: 959.82 B659 ^ De Vries and Van der Woude, pp. 434-435 ^ De Vries and Van der Woude, pp. 430-433 ^ During the Nine Year's War, the French and Dutch companies came to blows on the Indian Subcontinent. The French sent naval expeditions from metropolitan France, which the VOC easily countered. On the other hand, the VOC conquered the important fortress of Pondichérie after a siege of only sixteen days by an expedition of 3000 men and 19 ships under Laurens Pit from Negapatnam in September 1693. The Dutch then made the defenses of the fortress impregnable, which they came to regret when the Dutch government returned it to the French by the Treaty of Ryswick in exchange for tariff concessions in Europe by the French. Chauhuri and Israel, p 424 ^ De Vries and Van der Woude, pp. 433-434 ^ Chaudhuri and Israel, pp. 428-429 ^ However, the VOC had been defeated many times before. On the Indian Subcontinent, the EIC had suffered a resounding defeat from the Mughal forces in its 1689 Mughal War; Chaudhury and Israel, pp. 435-436 ^ It was also helpful that the price war with the EIC in the early decade had caused the accumulation of enormous inventories of pepper and spices, which enabled the VOC to cut down on shipments later on, thereby freeing up capital to increase shipments of other goods;De Vries and Van der Woude, p. 436 ^ De Vries and Van der Woude, pp.436-437 ^ De Vries and Van der Woude, pp. 437-440 ^ De Vries and Van der Woude, pp. 441-442 ^ a b De Vries and Van der Woude, p. 447 ^ De Vries and Van der Woude, p. 448 ^ De Vries and Van der Woude, pp.449-455 ^ A particularly egregious example was that of the "Amfioen Society". This was a business of higher VOC-employees that received a monopoly of the opium trade on Java, at a time when the VOC had to pay monopoly prices to the EIC to buy the opium in Bengal; Burger, passim ^ De Vries and Van der Woude, pp.454-455 ^ Kumar, Ann (1997). Java and Modern Europe: Ambiguous Encounters . p. 32. ^ TANAP, The end of the VOC ^ ibid. ^ De Vries and Van der Woude, p. 385 ^ De Vries and Van der Woude, pp.384-385 ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . p. 103. ^ Ames, Glenn J. (2008). The Globe Encompassed: The Age of European Discovery, 1500-1700 . p. 111.
Leitura adicional.
Ames, Glenn J. The Globe Encompassed: The Age of European Discovery, 1500-1700 . Pearson Prentice Hall, 2008. Blussé, L. et al. , eds. The Deshima [sic] Dagregisters: Their Original Tables of Content. Leiden, 1995-2001. Blussé, L. et al. , eds. The Deshima Diaries Marginalia 1740-1800. Tokyo, 2004. Boxer, C. R. Jan Compagnie in Japan, 1600-1850: An Essay on the Cultural Aristic and Scientific Influence Exercised by the Hollanders in Japan from the Seventeenth to the Nineteenth Centuries. Den Haag, 1950. Boxer, C. R. The Dutch Seaborne Empire: 1600-1800. London, 1965. Burger, M. (2003), "The Forgotten Gold? The Importance of the Dutch opium trade in the Seventeenth Century", in Eidos. University College Utrecht Academic Magazine . Issue 2/2003 Utrecht University Chaudhuri, K. N., and Israel, J. I. (1991), "The English and Dutch East India Companies and the Glorious Revolution of 1688-9", in: Israel, J. I. (ed.) , The Anglo-Dutch moment. Essays on the Glorious Revolution and its world impact , Cambridge U. P, ISBN 0-521-39075-3, pp. 407–438 Vries, J. de, and Woude, A. van der (1997), The First Modern Economy. Success, Failure, and Perseverance of the Dutch Economy, 1500-1815 , Cambridge University Press, ISBN 978-0-521-57825-7 Furber, Holden, Rival Empires of Trade in the Orient 1600-1800 . Minneapolis, 1976 Israel, Jonathan I., Dutch Primacy in World Trade 1585-1740 . Oxford, 1989 Glamann, Kristof., Dutch-Asiatic Trade 1620-1740 . The Hague, 1958.
Links externos.
Dutch India — a chronology of Dutch rule in India Oldest share — the oldest share in the world (VOC 1606) A taste of adventure — The history of spices is the history of trade, The Economist , 17 December 1998. Dutch Portuguese Colonial History Voyages by VOC ships to Australia Why did the Largest Corporation in the World go Broke? The history of the Dutch East Indies Company (Lectures at Gresham College, 1 March and 8 March 2006) Manuscript chart of the Netherlands, VOC, ca.1690 (high resolution zoomable scan) Old print of headquarters of V. O.C. ca.1750 (high resolution zoomable scan) Death of an East Indiaman Towards a New Age of Partnership; a Dutch/Asian/South-African programme of cooperation based on a mutual past (TANAP) - joint archival project of UNESCO, and the Netherlands and Indonesian national archives on the VOC [3] VOC voyages - online database of voyages of VOC ships [4] Atlas of Mutual Heritage - online atlas of VOC settlements VOC shipwrecks database (Dutch) Database of VOC crew members VOC Warfare Website on the military aspects of the history of the VOC.
Simple English.
[[File:|thumb|Logo of the VOC]] The Dutch East India Company ( Vereenigde Oost-Indische Compagnie or VOC in old Dutch), started in 1602, when the Netherlands gave it a 21-year monopoly to trade in Asia. It was the first multinational corporation in the world and the first company to issue stock. [1] The VOC had the power to start wars, make treaties, make its own money, and start new colonies. [2]
It was an important company for almost 200 years, until it became bankrupt in 1800. [3] The VOC's colonies became the Dutch East Indies which later became Indonesia.
Ships from the VOC were among the early explorers of Australia. The first Europeans to live in Australia were left behind after the mutiny on the VOC ship Batavia in 1629. Many of the sailors who took part in the mutiny were executed, but two, Wouter Loos, a soldier, and Jan Pelgrom de Bye, a cabin boy, were left at Wittecarra Gully, near the mouth of the Murchison River. They were never seen again.

Dutch East India Company.
Da Wikipédia, a enciclopédia livre.
The Dutch East India Company ( Vereenigde Oost-Indische Compagnie or VOC in Dutch, literally "United East Indian Company") was a trading company, which was established in 1602, when the States-General of the Netherlands granted it a 21-year monopoly to carry out colonial activities in Asia. It was the first multinational corporation in the world and the first company to issue stock. [ 1 ] It was also arguably the world's first megacorporation, possessing quasi-governmental powers, including the ability to wage war, negotiate treaties, coin money, and establish colonies. [ 2 ]
The Dutch East India Company remained an important trading concern for almost two centuries, paying an 18% annual dividend for almost 200 years. In its declining years in the late 18th century it was referred to as Vergaan Onder Corruptie which translates as 'Perished By Corruption'. The VOC became bankrupt and was formally dissolved in 1800, [ 3 ] its possessions and the debt being taken over by the government of the Dutch Batavian Republic. The VOC's territories became the Dutch East Indies and were expanded over the course of the 19th century to include the whole of the Indonesian archipelago, and in the 20th century would form Indonesia.
[edit] History.
[edit] Background.
During the 16th century the spice trade was dominated by the Portuguese who used Lisbon as a staple port. Before the Dutch Revolt Antwerp had played an important role as a distribution center in northern Europe, but after 1591 the Portuguese used an international syndicate of the German Fuggers and Welsers, and Spanish and Italian firms that used Hamburg as its northern staple, to distribute their goods, thereby cutting out Dutch merchants. At the same time, the Portuguese trade system was so inefficient that it was unable to supply growing demand, in particular the demand for pepper. The demand for spices was relatively inelastic, and the lagging supply of pepper therefore caused a sharp rise in pepper prices at the time.
Likewise, as Portugal had been "united" with the Spanish crown, with which the Dutch Republic was at war, in 1580, the Portuguese Empire became an appropriate target for military incursions. These three factors formed motive for Dutch merchants to enter the intercontinental spice trade themselves at this time. Finally, a number of Dutchmen like Jan Huyghen van Linschoten and Cornelis de Houtman obtained first hand knowledge of the "secret" Portuguese trade routes and practices, thereby providing opportunity. [ 4 ] The stage was thus set for Houtman's first voyage to Banten, the chief port of Java, and back (1595–97), which generated a modest profit. [ 5 ]
In 1596, a group of Dutch merchants decided to try again to circumvent the Portuguese monopoly. In 1596, a four-ship expedition led by Cornelis de Houtman was the first Dutch contact with Indonesia. [ 6 ] The expedition reached Banten, the main pepper port of West Java, where they clashed with both the Portuguese and indigenous Indonesians. Houtman's expedition then sailed east along the north coast of Java, losing twelve crew to a Javanese attack at Sidayu and killing a local ruler in Madura. Half the crew were lost before the expedition made it back to the Netherlands the following year, but with enough spices to make a considerable profit. [ 7 ]
In 1598, an increasing number of new 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 twenty-two ships under Jacob van Neck of five different companies was the first Dutch fleet to reach the ‘Spice Islands’ of Maluku. The ships returned to Europe in 1599 and 1600 and, although eight ships were lost, the expedition made a 400 percent profit. [ 7 ] In 1600, the Dutch joined forces with the local Hituese (near Ambon) in an anti-Portuguese alliance, in return for which the Dutch were given the sole right to purchase spices from Hitu. [ 8 ] Dutch control of Ambon was achieved in alliance with Hitu when in February 1605, they prepared to attack a Portuguese fort in Ambon but the Portuguese surrendered. In 1613, the Dutch expelled the Portuguese from their Solor fort, but a subsequent Portuguese attack led to a second change of hands; following this second reoccupation, the Dutch once again captured Solor, in 1636. [ 8 ]
[edit] Formation.
At the time, it was customary for a company to be set up only for the duration of a single voyage, and to be liquidated right after the return of the fleet. Investment in these expeditions was a very high-risk venture, not only because of the usual dangers of piracy, disease and shipwreck, but also because the interplay of inelastic demand and relatively elastic supply [ 9 ] of spices could make prices tumble at just the wrong moment, thereby ruining prospects of profitability. To manage such risk the forming of a cartel to control supply would seem logical. This first occurred to the English, who bundled their forces into a monopoly enterprise, the East India Company in 1600, thereby threatening their Dutch competitors with ruin. In 1602, the Dutch government followed suit, sponsoring the creation of a single "United East Indies Company" that was also granted a monopoly over the Asian trade. The charter of the new company empowered it to build forts, maintain armies, and conclude treaties with Asian rulers. It provided for a venture that would continue for 21 years, with a financial accounting only at the end of each decade. [ 10 ]
In 1603, the first permanent Dutch trading post in Indonesia was established in Banten, West Java and in 1611, another was established at Jayakarta (later 'Batavia' and then 'Jakarta'). [ 11 ] In 1610, the VOC established the post of Governor General to enable firmer control of 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 effectively became the main administrator of the VOC's activities in Asia, although the Heeren XVII continued to officially have overall control. [ 8 ]
VOC headquarters were in Ambon for the tenures of the first three Governors General (1610-1619), but it was not a satisfactory location. Although it was at the centre of the spice production areas, it was far from the Asian trade routes and other VOC areas of activity ranging from Africa to Japan. A location in the west of the archipelago was thus sought; the Straits of Malacca were strategic, but had become dangerous following the Portuguese conquest and the first permanent VOC settlement in Banten was controlled by a powerful local ruler and subject to stiff competition from Chinese and English traders. [ 8 ]
In 1604, a second British East India Company voyage commanded by Sir Henry Middleton reached the islands of Ternate, Tidore, Ambon and Banda; in Banda, they encountered severe VOC hostility, which saw the beginning of Anglo-Dutch competition for access to spices. [ 11 ] 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 trade. [ 11 ] Diplomatic agreements in Europe in 1620 ushered in a period of cooperation between the Dutch and the English over the spice trade. [ 11 ] This ended with a notorious, but disputed incident, known as the 'Amboyna massacre', where ten Englishmen were arrested, tried and beheaded for conspiracy against the Dutch government. [ 12 ] Although this caused outrage in Europe and a diplomatic crisis, the English quietly withdrew from most of their Indonesian activities (except trading in Bantam) and focused on other Asian interests.
[edit] Growth.
In 1619, Jan Pieterszoon Coen was appointed Governor-General of the VOC. He was a man of extraordinary vision, far beyond that of the cautious directors at home. He saw the possibility of the VOC becoming an Asian power, both political and economic. He was not afraid to use brute force to put the VOC on a firm footing. 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. To establish a monopoly for the clove trade, in the 1620s almost the entire native population of the Banda Islands, the source of nutmeg was deported, driven away, starved to death, or killed in an attempt to replace them with Dutch plantations, operated with slave labour. He hoped to settle large numbers of Dutch colonists in the East Indies, but this part of his policies never materialized, because the Heren XVII were wary at the time of large, open-ended financial commitments. [ 13 ]
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 therefore had to pay for spices with precious specie, and this was in short supply in Europe, except for Spain and Portugal. The Dutch and English had to obtain it by creating a trade surplus 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 trade with Europe. In the long run this obviated the need for exports of precious metals from Europe, though at first it required the formation of a large trading-capital fund in the Indies. The VOC reinvested a large share of its profits to this end in the period up to 1630. [ 14 ] The VOC traded throughout Asia. Ships coming into Batavia from the Netherlands carried supplies for VOC settlements in Asia. Silver and copper from Japan were used to trade with India and China for silk, cotton, porcelain, and textiles. These products were either traded within Asia for the coveted spices or brought back to Europe. The VOC was also instrumental in introducing European ideas and technology to Asia. The Company supported Christian missionaries and traded modern technology with China and Japan. A more peaceful VOC trade post 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. [ 15 ]
In 1640, the VOC obtained the port of Galle, Sri Lanka, from the Portuguese and broke the latter's monopoly of the cinnamon trade. In 1658, Gerard Hulft laid siege to Colombo, which was captured with the help 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 entire Malabar Coast upon the Portuguese, almost entirely 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 coast. [ 16 ]
In 1652, Jan van Riebeeck established an outpost at the Cape of Good Hope (the southwestern tip of Africa, currently in South Africa) to re-supply VOC ships on their journey to East Asia. This post later became a full-fledged colony, the Cape Colony, when more Dutch and other Europeans started to settle there.
VOC trading posts were also established in Persia (now Iran), Bengal (now Bangladesh, but then part of India), Malacca (Melaka, now in Malaysia), Siam (now Thailand), mainland China (Canton), Formosa (now Taiwan) and the Malabar Coast and Coromandel Coast in India. In 1662, however, Koxinga expelled the Dutch from Taiwan ( see History of Taiwan).
By 1669, the VOC was the richest private company 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 payment of 40% on the original investment. [ 17 ]
[edit] Reorientation.
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 outpost on Formosa and related internal turmoil in China (where the Ming dynasty was being replaced with the Qing dynasty) brought an end to the silk trade after 1666. Though the VOC substituted Bengali for Chinese silk other forces affected the supply of Japanese silver and gold. The shogunate enacted a number of measures to limit the export of these precious metals, in the process limiting VOC opportunities for trade, and severely worsening the terms of trade. Therefore, Japan ceased to function as the lynchpin of the intra-Asiatic trade of the VOC by 1685. [ 18 ]
Even more importantly, the Third Anglo-Dutch War temporarily interrupted VOC trade with Europe. This caused a spike in the price of pepper, which enticed the British East India Company (EIC) to aggressively enter this market in the years after 1672. Previously, one of the tenets of the VOC pricing policy was to slightly over-supply the pepper market, so as to depress prices below the level where interlopers were encouraged to enter the market (instead of striving for short-term profit maximization). The wisdom of such a policy was illustrated when a fierce price war with the EIC ensued, as that company flooded the market with new supplies from India. In this struggle for market share, the VOC (which had much larger financial 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. [ 19 ]
However, the writing was on the wall. Other companies, like the French East India Company and the Danish East India Company also started to make inroads on the Dutch system. The VOC therefore closed the heretofore flourishing open pepper emporium of Bantam by a treaty of 1684 with the Sultan. Also, on the Coromandel Coast, it moved its chief stronghold from Pulicat to Negapatnam, so as to secure a monopoly on the pepper trade at the detriment of the French and the Danes. [ 20 ] However, the importance of these traditional commodities in the Asian-European trade was diminishing rapidly at the time. The military outlays that the VOC needed to make to enhance its monopoly were not justified by the increased profits of this declining trade. [ 21 ]
Nevertheless, this lesson was slow to sink in and at first the VOC made the strategic decision to improve its military position 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 force to compel the Zamorin of Calicut to submit to Dutch domination. In 1710, the Zamorin was made to sign a treaty with the VOC undertaking to trade exclusively 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 insurrection temporarily, the Zamorin continued to trade with the English and the French, which led to an appreciable upsurge in English and French traffic. The VOC decided in 1721 that it was no longer worth the trouble to try and dominate the Malabar pepper and spice trade. A strategic decdision was taken to scale down the Dutch military presence and in effect yield the area to EIC influence. [ 22 ]
The 1741 Battle of Colachel by Nairs of Travancore under Raja Marthanda Varma was therefore a rearguard action. The Dutch commander Captain Eustachius De Lannoy was captured. Marthanda Varma agreed to spare the Dutch captain's life on condition that he joined his army and trained his soldiers on modern lines. This defeat in the Travancore-Dutch War is considered the earliest example of an organized Asian power overcoming European military technology and tactics; and it signaled the decline of Dutch power in India. [ 23 ]
The attempt to continue as before as a low volume-high profit business enterprise with its core business in the spice trade had therefore failed. The Company had however already (reluctantly) followed the example of its European competitors in diversifying into other Asian commodities, like tea, coffee, cotton, textiles, and sugar. These commodities provided a lower profit margin and therefore required a larger sales volume to generate the same amount of revenue. This structural change in the commodity composition of the VOC's trade started in the early 1680s, after the temporary collapse of the EIC around 1683 offered an excellent opportunity to enter these markets. The actual cause for the change lies, however, in two structural features of this new era.
In the first place, there was a revolutionary change in the tastes affecting European demand for Asian textiles, and coffee and tea, around the turn of the 18th century. Secondly, a new era of an abundant supply of capital at low interest rates suddenly opened around this time. The second factor enabled the Company to easily finance its expansion in the new areas of commerce. [ 24 ] Between the 1680s and 1720s, the VOC was therefore able to equip and man an appreciable expansion of its fleet, and acquire a large amount of precious metals to finance the purchase of large amounts of Asian commodities, for shipment to Europe. The overall effect was to approximately double the size of the company. [ 25 ]
The tonnage of the returning ships rose by 125 percent in this period. However, the Company's revenues from the sale of goods landed in Europe rose by only 78 percent. 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 equal footing with other suppliers. This made for low profit margins. [ 26 ] Unfortunately, the business information systems of the time made this difficult to discern for the managers of the company, which may partly 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 almost exclusively recruited from the political regent class, which had long since lost its close relationship with merchant circles. [ 27 ]
Low profit margins in themselves don't explain the deterioration of revenues. To a large extent the costs of the operation of the VOC had a "fixed" character (military establishments; maintenance of the fleet and such). Profit levels might therefore have been maintained if the increase in the scale of trading operations that in fact took place, had resulted in economies of scale. However, though larger ships transported the growing volume of goods, labor productivity did not go up sufficiently to realize these. In general the Company's overhead rose in step with the growth in trade volume; declining gross margins translated directly into a decline in profitability of the invested capital. The era of expansion was one of "profitless growth". [ 28 ]
Concretely: "[t]he long-term average annual profit in the VOC's 1630-70 'Golden Age' was 2.1 million guilders, of which just under half was distributed as dividends and the remainder reinvested. The long-term average annual profit in the 'Expansion Age' (1680-1730) was 2.0 million guilders, of which three-quarters was distributed as dividend and one-quarter reinvested. In the earlier period, profits averaged 18 percent of total revenues; in the latter period, 10 percent. The annual return of invested capital in the earlier period stood at approximately 6 percent; in the latter period, 3.4 percent." [ 28 ]
Nevertheless, in the eyes of investors the VOC did not do too badly. The share price hovered consistently around the 400 mark from the mid-1680s (which a hiccup around the Glorious Revolution in 1688), and they reached an all-time high of around 642 in the 1720s. VOC shares then yielded a return of 3.5 percent, only slightly less than the yield on Dutch government bonds. [ 29 ]
[edit] Decline.
However, from there on the fortunes of the VOC started to decline. Five major problems, not all of equal weight, can be adduced to explain its decline in the next fifty years to 1780. [ 30 ]
There was a steady erosion of intra-Asiatic trade by changes in the Asiatic political and economic environment that the VOC could do little about. These factors gradually squeezed the company out of Persia, Surat, 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 organized in Asia (centralized 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. [ 31 ] From about the 1790s onward, the phrase perished by corruption (also abbreviated VOC in Dutch) came to summarize the company's future. A problem that the VOC shared with other companies was the high mortality and morbidity 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 but one (1710-1720) from 1690 to 1760. 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.
Despite of all this, the VOC in 1780 remained an enormous operation. Its capital in the Republic, consisting of ships and goods in inventory, totaled 28 million guilders; its capital in Asia, consisting of the liquid trading fund and goods en route to Europe, totaled 46 million guilders. Total capital, net of outstanding debt, stood at 62 million guilders. The prospects of the company at this time therefore need not have been hopeless, had one of the many plans to reform it been taken successfully in hand. However, then the Fourth Anglo-Dutch War intervened. British attacks in Europe and Asia reduced the VOC fleet by half; removed valuable cargo from its control; and devastated its remaining power in Asia. The direct losses of the VOC can be calculated at 43 million guilders. Loans to keep the company operating reduced its net assets to zero. [ 32 ]
From 1720 on, the market for sugar from Indonesia declined as the competition from cheap sugar from Brazil increased. European markets became saturated. Dozens of Chinese sugar 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, rumors of deportation of the gangs from the Batavia area led to widespread rioting. The Dutch military searched houses of Chinese in Batavia searching for weapons. When a house accidentally burnt down, military and impoverished citizens started slaughtering and pillaging the Chinese community. [ 33 ] This Chinese Massacre was deemed sufficiently serious for the board of the VOC to start an official investigation into the Government of the Dutch East Indies for the first time in its history.
After the Fourth Anglo-Dutch War, the VOC was a financial wreck, and after vain attempts by the provincial States of Holland and Zeeland to reorganize it, was nationalised on 1 March 1796 [ 34 ] by the new Batavian Republic. Its charter was renewed several times, but allowed to expire on 31 December 1800. [ 35 ] Most of the possessions of the former 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 state of the old Dutch Republic by the Anglo-Dutch Treaty of 1814.
[edit] Organization.
The VOC had two types of shareholders: the participanten , who could be seen as non-managing partners, and the 76 bewindhebbers (later reduced to 60) who acted as managing partners. This was the usual set-up for Dutch joint-stock companies at the time. The innovation in the case of the VOC was, that the liability of not just the participanten , but also of the bewindhebbers was limited to the paid-in capital (usually, bewindhebbers had unlimited liability). The VOC therefore was a limited-liability company. Also, the capital would be permanent during the lifetime of the company. As a consequence, investors that wished to liquidate their interest in the interim could only do this by selling their share to others on the Amsterdam Stock Exchange. [ 36 ]
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. [ 37 ]
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 Zeeland or rotated among the five small Chambers. Amsterdam had thereby the decisive voice. The Zeelanders in particular had misgivings about this arrangement at the beginning. The fear was not unfounded, because in practice it meant Amsterdam stipulated what happened.
The six chambers raised the start-up capital of the Dutch East India Company:
The raising of capital in Rotterdam did not go so smoothly. A considerable part originated from inhabitants of Dordrecht. Although it did not raise as much capital as Amsterdam or Zeeland, Enkhuizen had the largest input in the share capital of the VOC. Under the first 358 shareholders, there were many small entrepreneurs, who dared to take the risk. The minimum investment in the VOC was 3,000 guilders, which priced the Company's stock within the means of many merchants. [ 38 ]
Among the early shareholders of the VOC, immigrants played an important role. Under the 1,143 tenderers were 39 Germans and no fewer than 301 Zuid-Nederlanders (roughly present Belgium and Luxemburg, then under Habsburg rule), of whom Isaac le Maire was the largest subscriber with ƒ85,000. VOC's total capitalization was ten times that of its British rival.
The logo of the VOC consisted of a large capital 'V' with an O on the left and a C on the right leg. The first letter of the hometown of the chamber conducting the operation was placed on top (see figure for example of the Amsterdam chamber logo). The flag of the company was orange, white, blue (see Dutch flag) with the company logo embroidered on it.
The Heeren XVII (Lords Seventeen) met alternately 6 years in Amsterdam and 2 years in Middelburg. They defined the VOC's general policy and divided the tasks among the Chambers. The Chambers carried out all the necessary work, built their own ships and warehouses and traded the merchandise. The Heeren XVII sent the ships' masters off with extensive instructions on the route to be navigated, prevailing winds, currents, shoals and landmarks. The VOC also 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 also established in the East Indies, such as on the Spice Islands (Moluccas), which include the Banda Islands, where the VOC forcibly maintained a monopoly over nutmeg and mace. Methods used to maintain the monopoly included the violent suppression of the native population, not stopping short of extortion and mass murder. In addition, VOC representatives sometimes used the tactic of burning spice trees in order to force indigenous populations to grow other crops, thus artificially cutting the supply of spices like nutmeg and cloves. [ 39 ]
[edit] VOC outposts.
Organization and leadership structures were varied as necessary in the various VOC outposts:
Opperhoofd is a Dutch word (plural Opperhoofden ) which literally means 'supreme head[man]'. In this VOC context, the word is a gubernatorial title, comparable to the English Chief factor, for the chief executive officer of a Dutch factory in the sense of trading post, as lead by a Factor, i. e. agent.
[edit] Notable VOC ships.
Amsterdam (R) Arnhem Batavia (R) Braek Duyfken ("Little Dove") (R) Eendracht (1615) ("Unity") Galias Grooten Broeck ("Great Brook") Gulden Zeepaert ("Golden Seahorse") Halve Maen ("Half moon") (R) Hoogkarspel Heemskerck Hollandia Klein Amsterdam ("Small Amsterdam") Leeuwerik ("Lark") Leyden Limmen Pera Prins Willem ("Prince William") (R) Ridderschap van Holland ("Knighthood of Holland") Rooswijk Sardam Texel Utrecht Vergulde Draeck ("Gilded Dragon") Vianen Vliegende Hollander ("Flying Dutchman") Vliegende Swaan ("Flying Swan") Wapen van Hoorn ("Arms of Hoorn") Wezel ("Weasel") Zeehaen ("Sea Cock") Zeemeeuw ("Seagull") Zeewijk Zuytdorp ("South Village")
[edit] See also.
Other trade companies of the age of the sail.
Governors General of the Dutch East India Company.

Intra-asiatic trade system

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Для мобильных устройств  · It was formed from the nationalised colonies of the Dutch East India Company , . around two percent of the total population in the Dutch East Indies spoke Dutch .