From the Opium Wars to the Boston Tea Party, the British East India Company had a profound effect on the course of history. Tune in and learn more about the influence of the British East India Company in this podcast from HowStuffWorks.com.
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
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drawing me haste brown world these reporter and editor at full speed news each morning we'll talk to britain other quarters to recap the most important news from trumps impeachment in a way they won't leave you dead inside find impeachment day on the i heard radio apple podcast or wherever you get your pockets welcome to stuff you missed in history class from housetop works dot com allowing off into the pakistan editor candid joined by software energy ok i have a new lessening yes but the content is all the same on the inside you're different personally smiling a lot more wonderful hubby bets same history bath is always and today we actually have a very seemingly dry but quite juicy topic for you guys
today we are talking about the east india company and we should clarify that direction couple is india companies and when people when historians talk about the east india company they usually refer to the british which is what we're gonna focus on but we're gonna written the other ones as well i sell a few like t a new law opium this is the episode four year yank obey you can see that for sure background which really important is that a back back a few years colombia is discovered the americas the portuguese explore go to gama actually discovered a water route to the east indies on the other side world so this so much easier to travel was faster to travel to the india's which had so much so many commodity is that europe was after especially spices and you ve had
food i mean it's not it's nothing it's pre planned for the necessary checks but that's exactly what europe was so soon after the east india in these it was it had so many good spices and we all know how good they can be himsel queen elizabeth a very enterprising woman thought i really want a piece about pie and she came up at them innovative way in which she could raise enough money in addition to what was available and the royal treasury to get a bunch of ships together to go and make a successful trade route for that's right and it's interesting to note that the dutch sure got a head start on england at this time even though they didn't have their official charter yet they were doing really well over east indies you like us i didn't have an official turn is causing a lot of problems back home for them because individual companies would impede each other flood the marquess spices and so the profits would draw and
you wouldn't have enough to fund their more more see ventures etc and so intellectually took a really smart move you know and when the london merchants got together and asked quarles before a charter and since she granted to them on december thirty first sixteen hundred a very grand day because this too are you now would seem to be an innocuous piece of paper that allows people to trade more successfully turned england into this major world superpower and it started a few precedents and our colleague just clark reintegrate great article about held the east india company changed the world and he talks about how this company was basically the first joint stock corporation that means basically if you're not you know into the business jargon is that investors are given a share of ownership in the company and if the company should go under your guarantee
to lose any more than what you put in the company that right it was the first limited liability corporation exactly on here and the united states were abbreviate that as allow see over and england its al tv and its good news because especially in times like these of a company goes under your guaranteed that you won't be responsible for any outstanding debts that the company has heard so very very smart move on elizabeth behalf a dry and they had the charter and the dutch i learned from it they they made their own charter a couple years later and england was still catching up with the dutch furred for decades to come they would each other over over on the other side the world is interesting to note it took about a year to go back and forth into the eu from the east indies to europe so just to clarify the route you're talking about are you talking about sailing down both sides of africans were the cape of good hope right yes that's right you for clarifying and is so because it took so long for the transportation they couldn't whenever they had a dispute they can very well come back there
to their original countries and then come back we just take much too long and so companies had their own military resources they would fight each other they would fight even who areas if the local governor there was just being uncooperative and they will deal with it so there are catching up not for a long time there is this interesting book called splendid exchanged by william bernstein in his description of the east any company because he calls it the obnoxious kid brother of the dutch east any accompany because chad the glee better ships better technology more ships and the english is catching up for so long a sort of a case of anything you can do i can do better ticket to the extreme yeah exactly into the dutch sort of had control over the spice islands that was there korea in the end they were following the english to more unprofitable none is nice ports
so the english or to make their way to india instead in india they were able to capitalize on their claws and textiles and not to mention their opium what was rather irresponsible of the east india company is that they would force the people the land that they control to purchase their commodities only from them is that they would essentially take hold of all the commodities whether with tee and the american colonies are opium and the indian colony and they would use that to to leverage there how're essentially like we all know the story the boston tea party in june and i have done podcast about it as well in short he's india company had a bunch of surplus to that are needed to unload and the prime target and market where the american colonists so they made much much more attractive to thy tee from d i see then friend any other purveyor of the tea and the colonists did not like being told where
by their stuff from bulgaria one historian put it that the colonists dumb the tea in the ocean because of easing the company was dumping the tea on them you know they had their surplus they had vainly tat rival one at forced down their throats basically burn that's it the colonies are found another site idea freedom so who is england to come in and say you have to buy from us which is essentially what they were doing here and look at it it did lead to the american revolution will it was a contributing factor one of the major events that you know we're talking history class this helpful the war and you know it helped form the united states too and so the huge influence at these in your company had over the world events to think that a business essentially may have started a warlike that is is a really powerful thought and it not just in the american colonies that thee i see provoked this kind of uprising in every said before that they were trying to conceal
all the opium exports over in india and led to a very similar revolution there is rate and to give you some background on that india was a very fragmented territory wasn't unified by any means when the east india company came in the sidney accompany illness basically had to make individual deals with all the local rulers time in india some were more cooperative than others so they made individual contracts like i said and they got at first there too cells in their claws the day they made a lot of money from that commodity but this became less profitable and the historic had to shifting to the spaces in india and they were mostly act china to get chinese ports silicon tee and so you have this multiple trade system going on so the chinese reading less and less interested in the textiles but there are getting more and more interested in opium i wouldn't so open
became a major a major point in east india company is trade between india and china like candice alluded to before now indian was able to grow opium in india without selling to the east india company and so they sought to to china and basically china had a lot of problems with this they didn't want with this any more and the chinese authorities we should say and at least he's your class the way they pay to me was that being with a highly addictive dangerous organ these in you can he was was very irresponsible in taking advantage of and actually bernstein the historian i mentioned before he actually said it is not quite like that only about one percent of the chinese smoked opium to such an extent that they gotta take that we're just so bad i mean open was a problem at the time but also the issues was that the chinese authorities did they did have a moral issue which with the opium trade but it was most
about the economy and economic issues involved in opium about eighteen six the value of opium coming into china exceeded the value of t going out and so this was a problem in the country was starting to hemorrhage silver and so this is what eventually bubbled up into two opium wars by another problem that was occurring during his time was that they the british troops essentially were creating private armies from the local indian populations and can you imagine that this forum corporation thompson to your country demands had all the farmers around you sell their crops only to them and furthermore taps you for service and a private army it didn't seem right and so there was an uprising the train is called the seaport rebellion and she bore the name of one of these indian sold to fight for the east india accompanied by the supply of rebellion back in eighteen fifty seven it wasn't exactly successful on it was india's really show the first major effort to get
independence from great britain but it didn't really work the british army was able to ever take thou not the rising lay they were outnumbered so india wise and english conny really until about nineteen forty seven right again more public address and i guess that store deserves a pike s in his own because it's you know gandhian everything there's so much to talk about in that arena but we should also go back and mention that zero at the same time as the eu to opium wars which were both failures on china's part and so they both just ended up annexed ending the trading rights for the easy accompanying china so too tough that you every wise and a sort of our aside known to all of this and this is really a matter more of a personal interest because last night when i was reading about the eastern near company has been stuart side of all you have to talk about epa and being short of it beer aficionado india pale india pale who is like one year what about the role of ip i n
india and i don't really know much about it so just in areas as a treat for all of you out there you now for those of you like opium you got yours and out of you beer levers are gonna get yours essentially the debris sir very very used to drinking at all it was something that was part of our culture santini expected of a sort of like i don't know southerners eye to drink there sweetie people like water will they expected their beer but a problem with it very from england to india is that it was so long and the weather changed so drastically or from the sight of the creation the sight of the unloading that they had to figure out a way to make beer differently so that it would make it on the trip abbe like driving the grocery store to get alan of milk and then taking history our trip home not having porringer carpets honey get there it's how can we get for drinking sure so on a town called burton france had water that had a really high
situation of gypsum or on calcium sulphates and this actually helped change there we have to bear in addition to adding extra hot so it make it really better and sort of fruity tasting but it made it stronger and had more preserved of quality so that it can mature more quickly and stay more stable and so the traders in india eyes while as members the navy in the army there could drinker and be happy they had their beer and i actually i thought this mason from the meantime brewing company which was a great website a few curious about the history of of beer by i learned there that ip areas considered of running beer and running beer means that you can get a mediately it doesn't have to sit around and mature like ale does you see in movies alice containing those really big oak barrels where tuna aging and in getting more delicious with time but it was incredibly popular
and the colonists year drink it up i think their allotted something like a girl in a day and maybe even more after ip became more successful and you can still get your ip today so who knew you'd be wearing so much about beer today but you know we care about you guys tell that died and if you want to know even more about other subjects or there's something that tickles your fancy they landed here jane and meeting in st high cost them worse dot com is right if we'd under a pike s eye we could write a blog on it and if you haven't seen you should go check out or blogs stuff you missing history class on house of works dot com and commodore stuff and we both opposed twice a day so it's what fun it is getting a quick sixty seconds of kansas jane every week day you're no love it and if you want to
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Transcript generated on 2020-02-07.