The East India Company, which has been in a monopoly position in the spice trade for two centuries, and thus achieved enormous profits from trade-in Asia, went bankrupt in 1796. Until this time he went bankrupt, he sent 4785 ships and more than 1 million Europeans to Asia, making a profit from the sale of more than 2.5 million tons of Asian goods. In addition to the textile products, East India Company also traded products such as tea, coffee, tobacco, opium, iron, copper, gold, timber, porcelain, and paint. The number of products it trades has been very high.

This company opened the first stock exchange that moved according to modern trade principles in Amsterdam, the Netherlands, and was the first company to publish shares in the world. This company-paid 18% profit share to each partner every year for approximately 200 years. It has left important marks in Europe and the world maritime history for two centuries. It will be fun to examine how the United East India Company was formed and what contribution this company has contributed to the development of maritime trade. However, before starting this study, it is useful to take a look at Dutch maritime history.

The spice trade route in the Mediterranean was under the control of the Ottoman State in the 16th century. This significantly reduced the income from Genoese and Venetian merchants from trade. The spice trade was in the hands of the Portuguese at that time, and the center of the spice market in Europe was Lisbon. It was not possible to meet the increasing demand for spices across Europe by Portugal alone. The lack of flexibility in demand for spice demand in Europe and the problems in obtaining the product caused spice prices to rise to exorbitant levels. This situation continued until the end of the century. Until the Dutch Revolution took place…

In 1581, the Dutch Republic emerged after the Netherlands, which was an important part of the Holy Roman Empire, gained its independence against Spain and the seven states came together. At that time, the Holy Roman Empire had good relations with the Kingdoms of Portugal and Spain. Because there was a significant blood tie between them. 2. Philip was made Imperial by Spain. The 2nd Philip was the son of Karlken, the 5th Roman Emperor, the Holy Roman Emperor. The country of Portugal was also dependent on the Spanish crown, so these two countries were united. Portugal and Spain were included as a compound kingdom. As a result, the fact that the Dutch were at war with Spain destroyed all their commercial relations. This made it impossible to trade any trade between the Dutch and Portugal.

When it comes to spice trade during the Dutch Period, the city of Antwerp operated as a remarkable distribution center. Portuguese after the war; As a result of establishing a joint trade group with companies from Spain, Italy, and Germany, Port of Hamburg has become an important distribution center for the Northern Europe spice trade. Changes in balances caused the Dutch Republic to suffer economic damage. The economy of the Dutch Republic has, therefore, become miserable. Knowing that the only way to improve the country's economy and develop the country is through trade, traders came together with the managers and decided to find safe and new trade routes. After all these negotiations, it was decided that Holland will enter international spice trade. However, there is a serious problem in front of the Netherlands for this situation.

Portuguese ships were on all the routes they would follow to reach the East Indies. The western side of the road stood in the hands of the Spaniards. The Dutch had to find another way for the Indies and break the commercial power of Portugal through their new path. For this purpose, a new trade route reaching India and China has been sought. Dutch traders established a company by obtaining expedition information from Dutch sailors who knew Portugal's hidden trade routes. Travel preparations to the East Indies began immediately after the establishment of this company. The fleet, which was formed on 4 different ships, made its first flight when the date showed 1595.

The smallest fleet consisted of 4 parts. This small fleet first went to Banten, located in the west of Java, known as the port of pepper. There was a conflict here with both the natives and the Portuguese. After the clash, this small fleet departs to the north of Java. After their collision with the locals of Sidayu, the fleet lost 12 men. They reached the Netherlands in the following year and half of the total crew died during the expiry of this expedition. The first eastern expedition did not pass as expected at all. This has been devastation for the Netherlands. As a result of this time, only 45 bags of pepper, 45-50 tons of nutmeg and 30 bales of nutmeg were obtained. In return, many people lost their lives.

On a date that coincides with the same year, expeditions are started to find a new road passing through this point based on the Northern Ice Sea. Among these many expeditions, the most famous one was the discovery that took place between 1596 and 1597 and led by the Dutch explorer Barentsz. The ship of this explorer reached the northern part of the island named Novaya Zemlya. Meanwhile, the ship remained in the ice due to the winter. In this case, the crew started to wait for the summer to arrive on the ship. With June, the ice starts to thaw. With the defrosting, the crew tried to reach the land by using the boats. Meanwhile, Barentsz died. Survivors from the team of the famous explorer also returned to the Netherlands. Then, in 1609, a new expedition will be organized to cross the Arctic Sea. This work will be done by the famous explorer Henry Hudson who passed to the East India Company in those years. The Hudson, who commanded the ship, tried to cross the Arctic Ocean but was not very successful in this. Only the Soviet ice breaker ship was able to pass this route in 1932. Many fleets were sent from many parts of the Netherlands, financed by traders competing with each other in 1598. Some of these fleets disappeared while cruising. The 8-ship fleet that joined Houtman's expedition managed to reach the Spice Islands in March of 1599. This fleet returned to Amsterdam in 1600. As a result of this time, the fleet made a net profit of 400 percent. In this way, the foundations of the East India Company were laid. At that time, companies were established for a single voyage. When the expedition was completed and the fleet returned to its headquarters, the company was liquidated. These ship voyages are; There were very risky attempts due to diseases, piracy activities, accidents. Supply and demand changes in the spice market were also constantly changing spice prices. This situation constantly affected the profits that the companies would make. The way to get rid of these risks seemed to be possible by installing a cartel to keep the product under control.

The British first applied this approach. Production resources were gathered at a single monopoly and the British East India Company was founded in 1600. By 1602, the Dutch government also acted in the same way and established the United East India Company. The state-financed this formation. The East India Company had many partners, it was a joint-stock company established in this way. This company is considered to be the first company established as a multinational company. The Dutch government transferred the colony activities in Asia to the company monopoly for 21 years. This company consisted of 17 company shareholders and company managers representing different guilds. He had special powers such as building castles, forming armed forces, and making deals with Asian government elders. Many powers that the government should have were given to this company. The government's special powers such as hanging, punishment were held by the company's top executives. The guilds were making their ships. These guilds were also conducting trade by building warehouses. Before the voyage, important information about the voyage was given to the captains of the ships. This information includes training on routes, shallows, areas where there may be waves, winds, and other factors. Even special navigation maps were prepared for the voyages through the company. The East India Company has achieved great success throughout its lifetime. As a result of these achievements, another company, the West India Company, was founded in 1621 by the Dutch government. This new company would also trade in America, the Caribbean, and West Africa. This move was followed by East India Companies, which were established in Europe.

Cargo ships provided a serious commercial advantage for the Dutch. These ships were not capable of being transformed into warships in wartime like ships of other countries. This situation led to the low cost of the ship. They were able to carry 2 times more cargo in terms of capacity than normal. Dutch ships had a security weakness, they would go in convoy as they sailed, and therefore it was possible to control the ship with less crew. Invented by Corneliszoon and working with wind power, new saw-style inventions have significantly increased the productivity of the ships in the manufacturing industry. In this way, specialized shipyards started to manufacture ships very quickly and at a very low cost. By the 18th century, it was important for the Dutch to protect the growing Dutch trade network. The Dutch fleet had to go to many wars at that time to protect this powerful and large trade network. At that time, Dutch trade fleets were started to be supported by powerful navies. Otherwise, it could lead to serious losses as a result of attacks on trade fleets. During peace periods, the fleet made a normal number of cruises, such as 4000 people. However, the number of crew members during the war periods increased significantly. The crew was hired for one time only. Officers and top officials were more involved in the campaign. In times of peace, when captains purchased goods below the price set by the government, they could leave the rest to themselves. By acting in this way, they were able to leave a small fortune to themselves. After reaching this wealth, they usually left the company.

By the end of the 18th century, the 4th Anglo-Dutch war was fought, and the company went bankrupt due to increased smuggling actions, increased war spending, corruption, and mismanagement. This company was transferred to the public in 1796. In 1800, the company was completely liquidated. The goods and debts of the liquidated company were taken over by the Republic of Batavia. The colonial lands of the company have been transformed into a colony attached to the republic under the name of Dutch East Indies. After this situation, the United East India Company officially ended.