of Lancaster, Beal, Best and others resulted in large profits' into valuable commercial treaties being entered nto with native princes; and in English prestige being considerably enhanced throughout the Orient by naval and political successes over the Portuguese. The establish ment of factories in various stations, however, excited the jealousy of the Dutch, who in 1624 massacred the members of the English factory at Amboyna, an atrocity for which Cromwell in 1654 compelled the Dutch government to cede an island and to pay a sum of $1,500,000 as compensation to the victims' families. This incident inaugurated the struggle which re sulted in the loss to the Dutch of all their pos sessions on the Indian peninsula. With periodi cal renewals of its charter, the company, over coming all rivalry and opposition, maintained its position. From 1745 to 1761 it was engaged in a crucial fight throughout the Carnatic for supremacy with the French company established in 1664, and which under La Bourdonnais and Dupleix had obtained almost paramount power in India; Clive (q.v.) brought it safely through the struggle. It was with reluctance, however, that the company accepted the position which their victories over the French and the native states was forcing upon them of territorial mag nates and unconsciously of founders of the British empire in India; especially when their growing political importance inspired the home government with a desire to control their company.
In 1766 the right of the company to acquire territorial possessions formed a subject of in quiry in the British Parliament; and a year later a resolution of the proprietors to raise their dividend to 122 per cent was vetoed. The ques tion of political rights of the company be ing thus raised, the British ministry acted on their view of it by sending a Crown plenipo tentiary to India, and after a protracted strug gle, a regulating act was passed in 1773 remod eling the powers of the company and placing it under the control of Parliament. The con stitution of the councils of the presidencies was regulated and their superintendence assigned to a Crown official, Warren Hastings (q.v.) being appointed first governor-general. A further act introduced by Pitt in 1784 modified the politi cal power of the company by establishing a board of control to superintend, direct and con trol all acts, operations and concerns relating to the civil and military government or revenues of India. From this time the political power of the company was little more than nominal ; the right of nominating its officials still remained with the directors, but the absolute right of recall was vested in the Crown. The company's
charter was renewed with a few changes in 1793 and subsequently at intervals of 20 years; in 1813 it lost the monopoly of the Indian trade, which under certain restrictions was thrown open to all British subjects; its right of exclu sive trade was restricted to China, but in 1833 this monopoly was also abolished. Its charter was renewed for the last time in 1853; the Indian mutiny, 1857-58, discredited the com pany's administration, and in November 1858 a proclamation at Calcutta announced that Queen Victoria had assumed the government of The company continued to receive and distribute the dividends guaranteed by the government until the East India Stock Dividend Redemp tion Act became operative in 1874 when the company was dissolved.
The Danish East India Company, founded in 1618, dissolved in 1634, reconstituted in 167% again dissolved in 1729, was succeeded in 1732 by the Danish Asiatic Company. This com pany had a prosperous career until the war be tween Great Britain and Denmark in 1801, when its trade declined and ended with the cession of Tranquebar and Serampore to Great Britain in 1845.
The French East India Company, known as °La Compagnie des Indes was founded in 1664 by Colbert, Minister to Louis XIV. It had extensive privileges, and in 1675 made a settlement at Surat, and in the follow ing year at Pondicherry. It had a long and prosperous career, notwithstanding the loss of trading privileges at various periods and its connections with the Mississippi Bubble (q,v.). It reached the height of its prosperity under Dupleix (q.v.) and La Bourdonnais, extend ing its operations until the Deccan and the Carnatic were practically under French control, when antagonism with the English under Clive, the recall of Duplex, and practical abandon ment by the French government, led to the dis solution of the company by royal decree in 1769.
The Swedish East India Company, founded at Gothenburg in 1741, was reorganized in t806.
Bibliography.— 'Charters granted to East India Company from 1601' ; Macpherson, 'His tory and Management of East India Company) (1779) ; Bruce, 'Annals of the East India Com pany) (1810) ; Stevens, 'Dawn of British Trade to the East Indies) (1886) ; Foster, 'Letters re ceived by East India Company from its servants in the (6 vols., 1902) ; Castonnet des Fosses, (12Inde Francaise avant Dtipleiit' (1887).