EAST-INDIA COST PAN V, " the t;ov ernor and company of Merchants of Lon don trading to the East Indies," the most celebrated commercial association either of ancient or modern times, which has extended its sway over the whole of the Mogul empire, was incorporated abouf the 42d of queen Elizabeth, A.D. 1600, and empowered to trade to countries to the eastward of the Cape of Good Hope, exclusive of all others. A variety of causes had been long operating in favor of such an incorporation. Several very valuable East India ships had been taken from the Portuguese and Spaniards by the English fleets, and awakened the cu pidity of merchants to the obtaining a share in a traffic which promised such great advantages. At length, in 1593, an armament fitted out for the East In dies by Sir Walter Raleigh, and com manded by Sir John Borroughs, fell in with, near the Azores,' the largest of all the Portuguese carracks. a ship of 1600 tons burden carrying 700 men and 35 brass cannon ; and, after an obstinate conflict, carried her into Dartmouth. She was the largest vessel that had been seen in England; and her cargo, consist ing of gold, spices, calicoes, silks, pearls, drugs, porcelain, ivory, ,ke , excited the ardor or the to engage in so opu lent a commerce. About the year 1698, application being made to parliament by private merchants, for laying this trade open, an act passed empowering every subject of England, upon raising a sum of money, for the supply of the govern ment, to trade to those parts. A great
subscription was accordingly raised, and the subscribers were styled the New East India Company ; but the old establish ment being in possession of all the forts on the coast or ludia, the new one found it its interest to unite ; and both, trading with one joint stock, have ever since been known under one name, viz. The United Company. Many and se vere have been the contests between the advocates of a free trade to India, and the friends of the "incorporated com pany ;" but at length the long-supported monopoly of that powerful body yielded to an act of Parliament passed in 1833, for continuing the charter till 1854, which, in fact, has put a limit to the Com pany's commercial character, by enact ing that its trade to China was to cease on the 22d of April, 1834, and that the Company was, as soon as possible after that date, to dispose of their stocks on hand, and dose their commercial busi ness. The functions of the East-India Company are now, therefore, wholly po litical. She is to continue to govern In dia, with the concurrence and under the supervision of the Board of Control, till the 30th of April, 1854.