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Levant Company
Public
Industry International trade
Fate Dissolved
Founded 1581
Defunct 1825
Headquarters Aleppo, Ottoman Empire

The Levant or Turkey Company, was an English chartered company formed in 1581,[1] to regulate English trade with Turkey and the Levant until 1825. A member of the Company was known as a Turkey Merchant.

Origins

Following a decline in trade with the Levant over a number of decades, several London merchants petitioned Queen Elizabeth I in 1580 for a charter to guarantee exclusivity when trading in that region.[2] In 1580 a treaty was signed between England and the Ottoman Empire, giving English merchants trading rights similar to those enjoyed by French merchants. In 1582 Henry Harborne, an English merchant who had carried out most of the treaty negotiations in Constantinople, was appointed England's ambassador to the Ottoman Empire, with all his expenses (including gifts given to the Sultan and his court) to be paid by the Levant Company.[3] The Company had no colonial aspirations, but rather established "factories" (trading centers) in already-established commercial centers, such as the Levant Factory in Aleppo, as well as Constantinople, Alexandria and Smyrna. Throughout the Company's history, Aleppo served as headquarters for the whole company in the Middle East. By 1588, the Levant Company had been converted to a regulated monopoly on an established trade, from its initial character as a joint-stock company. The prime movers in the conversion were Sir Edward Osborne and Richard Staper. A new charter was granted in January 1592, and by 1595 its character as a regulated company had become clear.[4] In the early days of the company there were threats not just from Barbary pirates but during the war with Spain in 1586, 1590 and 1591 they successfully repelled Spanish galleys in attempts to capture their cargo. The Company as a result though had heavily armed ships some of which were used during the Spanish Armada campaign in 1588.

Development

James I (1603–25) renewed and confirmed the company's charter in 1606, adding new privileges. However he engaged in a verbal anti-Turk crusade and neglected direct relations with the Turks. The government did not interfere with trade, which expanded. Especially profitable was the arms trade as the Porte modernized and re-equipped its forces. Of growing importance was textile exports. Between 1609 and 1619, the export of cloth to the Turks increased from 46% to 79% of total cloth exports. The business was highly lucrative. Piracy continued to be a threat. Despite the anti-Ottoman rhetoric of the king, commercial relations with the Turks expanded. The king's finances were increasingly based on the revenues derived from this trade, and English diplomacy was complicated by this trade. For example, James refused to provide financial support to Poland for its war against the Turks.[5]

During the Civil Wars, some innovations were made in the government of the company, allowing many people to become members who were not qualified by the charters of Elizabeth and James, or who did not conform to the regulations prescribed. Charles II, upon his restoration, endeavored to set the company upon its original basis; to which end, he gave them a charter, containing not only a confirmation of their old one, but also several new articles of reformation.

By the charter of Charles II, the company was erected into a body politic, capable of making laws, etc., under the title of the Company of Merchants of England trading to the Seas of the Levant. The number of members was not limited, but averaged about 300. The principal qualification required was that the candidate be a wholesale merchant, either by family, or by serving an apprenticeship of seven years. Those under 25 years of age paid 25 pounds sterling at their admission; those above, twice as much. Each made an oath, at his entrance, not to send any merchandise to the Levant, except on his own account; and not to consign them to any but the company's agents, or factors. The company governed itself by a plurality of voices.

The company had a court, or board at London, composed of a governor, sub-governor, and twelve directors, or assistants; who were all actually to live in London, or the suburbs. They also had a deputy-governor, in every city and port where there were any members of the company. This assembly at London sent out the vessels, regulated the tariff for the price at which the European merchandise sent to the Levant were to be sold; and for the quality of those returned. It raised taxes on merchandise, to defray impositions, and the common expense of the company; presented the ambassador, which the King was to keep at the port; elected two consuls for Smyrna and Constantinople, etc. As the post of ambassador to the Sublime Porte became increasingly important, the Crown had to assume control of the appointment.

One of the best regulations of the company was not to leave the consuls, or even the ambassador, to fix the impositions on the vessels for defraying the common expenses—something that was fatal to the companies of most other nations—but to allow a pension to the ambassador and consuls, and even to the chief officers—including the chancellor, secretary, chaplain, interpreters, and janissaries—so that there was no pretence for their raising any sum at all on the merchants or merchandises. It was true that the ambassador and consul might act alone on these occasions, but the pensions being offered to them on condition of declining them, they chose not to act.

In extraordinary cases, the consuls, and even ambassador himself, had recourse to two deputies of the company, residing in the Levant, or if the affair be very important, assemble the whole nation. Here were regulated the presents to be given, the voyages to be made, and every thing to be deliberated; and on the resolutions here taken, the deputies appointed the treasurer to furnish the required funds. The ordinary commerce of this company employed from 20 to 25 vessels, of between 25 and 30 pieces of cannon.

The merchandises exported there were limited in quality and range, suggesting an imbalance of trade; they included traditional cloths, especially shortcloth and kerseys, tin, pewter, lead, pepper, re-exported cochineal, black rabbit skins and a great deal of American silver, which the English took up at Cadiz. The more valuable returns were in raw silk, cotton wool and yarn, currants and "Damascus raisins", nutmeg, pepper, indigo, galls, camlets, wool and cotton cloth, the soft leathers called maroquins, soda ash for making glass and soap, and several gums and medicinal drugs.

The commerce of this company to Smyrna, Constantinople, and İskenderun, was much less considerable than that of the East India Company; but was, doubtless, much more advantageous to England, because it took off much more of the English products than the other, which was chiefly carried on in money.

The places reserved for the commerce of this company included all the states of Venice, in the Gulf of Venice; the state of Ragusa; all the states of the "Grand Signior" (the Sultan of Turkey), and the ports of the Levant and Mediterranean Basin; excepting Cartagena, Alicante, Barcelona, Valencia, Marseilles, Toulon, Genoa, Livorno, Civitavecchia, Palermo, Messina, Malta, Majorca, Minorca, and Corsica; and other places on the coasts of France, Spain, and Italy.

Ships owned by the Levant Company from 1581 to 1640:<The Early History of The Levant Company, M. Epstein, M.A., PH.D, London, George Rutledge & Sons, 1908>

The Alathia The Alcede The Alice and Thomas The Alice Thomas The Allepo Merchant The Angel The Anne Frane The Ascension The Bark Burre The Barque Reynolds The Centurion The Charity The Cherubim The Christ The Clement The Cock The Concord The Consent The Cosklett The Darling The Delight The Desire The Diamond The Dragon The Eagle The Edward Bonaventure The Elizabeth and Dorcas The Elizabeth Cocken The Elizabeth Stoaks The Elnathan The Emanuel The Experience The Freeman The George Bonaventure The Gift of God The Golden Noble The Grayhound The Great Phoenix The Great Suzanne The Greenfield The Guest The Gyllyon The Harry The Harry Bonaventure The Hector The Hercules The Husband The Industry The The Jane The Jesus The Jewel The Job The John The John Francis The Jollian The Jonas The Lanavit The Lewis The Little George The London The Margaret The Margaret Bonaventure The Marget and John The Marigold The Mary The Mary Anne The Mary Coust The Mary Martin The Mary Rose The Mayflower The Merchant Bonaventure The Mignon The Paragon The Peregrine The Phoenix The Primrose The Prosperous The Providence The Rainbow The Rebecca The Recovery The Red Lion The Report The Resolution The Roebuck The Royal Defence The Royal Exchange The Royal Merchant The Saker The Salamander The Salutation The Samaritan The Sampson The Samuel The Saphire The Scipio The Society The The Solomon The Suzanne The Suzanne Parnell The Swallow The Teagre The Thomas and William The Thomas Bonaventure The Thomasine The Toby of Harwich The Trinity The Trinity Bear The Triumph The Unicorn The White Hind The William and John The William and Ralph The William and Thomas The William Fortune

Governors of the Levant Company

The British government took over the Company in 1821 until its dissolution in 1825.

Decline

Membership began declining in the early eighteenth century. In its decline the Company was looked upon as an abuse, a drain on the resources of Britain. The Company's purview was thrown open to free trade in 1754, but continued its activities until dissolution in 1825.

Heraldry

The arms of the Levant Company were: Azure, on a sea in base proper, a ship with three masts in full sail or, between two rocks of the second, all the sails, pennants, and ensigns argent, each charged with a cross gules, a chief engrailed of the third, in base a seahorse proper. The crest was: On a wreath of the colours, a demi seahorse saliant. The supporters were: Two seahorses. The Latin motto was: Deo reip(ublica) et amicis. ("For God, the Commonwealth and our Friends").[6]

See also

Notes

  1. ^ The charter of 11 September 1581 was good for seven years; it was not renewed when it expired in 1588. (T. S. Willan, "Some Aspects of English Trade with the Levant in the Sixteenth Century". The English Historical Review 70.276 (July 1955, pp. 399–410) p 405.
  2. ^ The London Port Books from the 1560s and 1570s do not record any shipments by English merchants to or from the Levant, when Venice filled the role of intermediary and Antwerp retained its position as entrepôt. (Willan 1955:400ff).
  3. ^ Michael Strachan, "The life and Adventures of Thomas Coryate", OUP, 1962.
  4. ^ Willan 1955:405–07.
  5. ^ Eysturlid, 1993
  6. ^ As recorded in the College of Arms, per Fox-Davies, Arthur, The Book of Public Arms, 1915 [1]


Further reading

  • Epstein, M. The Early History of the Levant Company (New York: Dutton) 1908. Covers the years of the periodic charterters, 1581–1605 and the permanent charter to 1640.
  • Eysturlid, Lee W. "'Where Everything is Weighed in the Scales of Material Interest': Anglo-Turkish Trade, Picary, and Diplomacy in the Mediterranean during the Jacobean Period," Journal of European Economic History, Winter 1993, Vol. 22 Issue 3, p613-25
  • Wood, A.C. A History of the Levant Company (Oxford) 1935.
  • Mather, James. Pashas: Traders and Travellers in the Islamic World (Yale University Press) 2009. ISBN 9780300170917.

1893 text

The Turkey or Levant Company was established in 1581.


This text comes from a footnote on a diary entry in the 1893 edition edited by Henry B. Wheatley.

4 Annotations

Terry F  •  Link

"1581 the Turkey Company was formed, and in 1592 it merged with the Venice Company (founded 1583) to form the Levant Company. It obtained a patent from Elizabeth I for the exclusive right to trade in currants (dried white grapes, i.e. golden raisins). The Company also purchased wine, cotton and silk from the Eastern Mediterranean."
http://history.wisc.edu/sommerville/361/361-19.htm

dirk  •  Link

More info:

"Muslims of London: A Brief Historical Overview"
More general background info on the Turkey Co., the Barbary Company (1585), and the East India Company (1600):
http://www.masud.co.uk/ISLAM/bmh/BMH-IRO-histor...

"The English in India before the East India Company":
http://nistads.res.in/contents/yellowed/English...

Merchants and Bankers 1575 - 1600
(search for "Turkey Company")
http://www.danbyrnes.com.au/merchants/merchants...

And for those who read German, very interesting reading:
Vom Inselreich zur Weltmacht
http://info.uibk.ac.at/c/c4/c409/exenberger/s04...

Terry F  •  Link

The trading companies were the outreach of Guilds and Companies of the City.
"On the 9th of May 1345, twenty-two members of the ancient Guild of Pepperers founded a fraternity which, in 1376, became The Company of Grocers of London.
"The Fraternity was entrusted with the duty of garbling, or preventing the adulteration of spices and drugs, as well as with the charge of the King's Beam, which weighed all merchandise sold by the Aver-de-Poys weight or the peso grosso. The Company probably derives its name from the Latin, grossarius, one who buys and sells in the gross, in other words a wholesale merchant: since its earliest days the members were wholesale dealers in spices and foreign produce." [whose agents followed the trade-routes to the source in the East] http://www.grocershall.co.uk/comphistory.html

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References

Chart showing the number of references in each month of the diary’s entries.

1662

1665