Wikipedia

This text was copied from Wikipedia on 27 July 2015 at 3:22AM.

Royal African Company
Formerly called
Company of Royal Adventurers Trading to Africa
Private
Industry Mercantile trading
Founded 1660 (1660) in London, England
Founders House of Stewart (British Royal Family)
Defunct 1752 (1752)
Key people
James II, Charles II
Products Gold, silver, ivory, slaves
1686 guinea showing the company's logo, an elephant and castle, under bust of James II

The Royal African Company was a mercantile company set up by the Stuart family and London merchants to trade along the west coast of Africa. It was led by James, Duke of York, Charles II's brother. Its original purpose was to exploit the gold fields up the Gambia River identified by Prince Rupert during the Interregnum, and it was set up once Charles II gained the English throne in the Restoration of 1660.[1] However, it was soon engaged in the slave trade as well as with other commodities.

History

Originally known as the Company of Royal Adventurers Trading to Africa, by its charter issued in 1660 it was granted a monopoly over English trade with West Africa. With the help of the army and navy, it established forts on the West African coast that served as staging and trading stations and was responsible for seizing any English ships that attempted to operate in violation of the company's monopoly. In the prize court, the King received half of the proceeds and the company half.[2]

The company fell heavily into debt in 1667, during the war with the Netherlands—the very war it had itself started when its Admiral Robert Holmes had attacked the Dutch African trade posts in 1664—as it had lost most of its forts on the African coast except for Cape Corse.[3] For several years after that the company maintained some desultory trade, including licensing single-trip private traders, but its biggest effort was the creation in 1668 of the Gambia Adventurers,[4] a new company which was separately subscribed and was granted a ten-year license for African trade north of the Bight of Benin with effect from 1 January 1669.[5] In 1672, the original Company re-emerged, re-structured and with a new charter from the king, as the new Royal African Company. Its new charter was broader than the old one and included the right to set up forts and factories, maintain troops, and exercise martial law in West Africa, in pursuit of trade in gold, silver, and slaves.[6] At the end of 1678, the license to the Gambia Adventurers expired and its Gambian trade was merged into the company.[7]

In the 1680s the Company was transporting about 5,000 slaves a year across the Atlantic. Many were branded with the letters 'DY', for its Governor, the Duke of York, who succeeded his brother on the throne in 1685, becoming King James II. Other slaves were branded with the company's initials, RAC, on their chests.[8]

Between 1672 and 1689 the Company transported around 90,000–100,000 slaves. Its profits made a major contribution to the increase in the financial power of those who controlled the City of London.

From 1694 until 1700, the company was a major participant in the Komenda Wars in the port city Komenda in the Eguafo Kingdom in modern-day Ghana. The company allied with a merchant prince named John Cabess and various neighbouring African kingdoms to depose the king of Eguafo and permanently establish a fort and factory in Komenda.[9]

In 1689, the Company acknowledged that it had lost its monopoly with the end of royal power in the Glorious Revolution.[10] In 1698 this change was enacted into law by an act which opened the African trade to all English merchants, provided that they paid a ten per cent levy to the Company on all goods exported from Africa.[11] This development was advantageous for merchants in Bristol, even if, like the Bristolian Edward Colston, they had already been involved in the trade. The number of slaves transported on English ships subsequently increased dramatically.

The Company continued purchasing and transporting slaves until 1731, when it abandoned slaving in favour of ivory and gold dust. Charles Hayes (1678–1760), mathematician and chronologer, was sub-governor of Royal African Company until 1752, when it was dissolved. Its successor was the African Company of Merchants.

The Royal African Company's logo depicted an elephant and castle.

From 1668 to 1722 the Royal African Company provided gold to the English Mint. Coins made with such gold bear an elephant below the bust of the king and/or queen. This gold also gave the coinage its name—the guinea.[12]

See also

Notes

  1. ^ Carrington, Charles (1950). The British Overseas: Exploits of a Nation of Shopkeepers. Cambridge, England: Cambridge University Press. p. 217. OCLC 1083162. 
  2. ^ Davies, Kenneth Gordon (1999). The Royal African Company. Routledge/Thoemmes Press. p. 106. ISBN 978-0-415-19077-0. , originally published in London by Longmans, Green in 1957.
  3. ^ Zook, George Frederick (1919). The Company of Royal Adventurers Trading Into Africa. Lancaster, Pennsylvania: Press of the New Era Printing Company. p. 20.  also published as Zook, George Frederick (1919). "The Company of Royal Adventurers Trading Into Africa". The Journal of Negro History 4 (2): 134–231, page 155. 
  4. ^ The "Gambia Adventurers" is sometimes known as The Gambian Merchants' Company.
  5. ^ Zook 1919, p. 23
  6. ^ Kitson, Frank. (1999) Prince Rupert: Admiral and General-at-Sea. London: Constable, p. 238.
  7. ^ Davies 1999, p. 215
  8. ^ Micklethwait, John, and Adrian Wooldridge. The Company: A Short History of a Revolutionary Idea. New York: Modern Library, 2003. ISBN 0-679-64249-8.
  9. ^ Law, Robin (2007). "The Komenda Wars, 1694-1700: a Revised Narrativ". History in Africa 34: 133–168. doi:10.1353/hia.2007.0010. 
  10. ^ Although no law was passed by parliament, the company ceased issuing letters of marque.Davies 1999, p. 123
  11. ^ P. E. H. Hair & Robin Law, 'The English in West Africa to 1700', in The Oxford History of the British Empire: Volume 1, The Origins of Empire: British Overseas Enterprise to the close of the Seventeenth Century, ed. Nicholas Canny (Oxford : Oxford University Press, 1998), p. 259
  12. ^ Davies 1999, p. 181

Further reading

  • Davies, Kenneth Gordon. The Royal African Company. Routledge/Thoemmes Press, 1999.
  • Pettigrew, William A. Freedom's Debt: The Royal African Company and the Politics of the Atlantic Slave Trade, 1672-1752. Chapel Hill, NC: University of North Carolina Press, 2014.

External links

1 Annotation

Michael Robinson  •  Link

"Company of Royal Adventurers into Africa,"

Founded 1660, and re-founded in 1663, by Prince Rupert and James, Duke of York, the company was granted monopoly trading rights in western Africa for 1,000 years. Apparently this company's activities were initially restricted to Gambia because of the need to negotiate with the pre-existing rights of the Guinea and East India Companies. The charter of 1663 for the first time explicitly mentioned the slave trade among the Company's interests, in 1662 it undertook to supply 3,000 slaves annually to the West Indian colonies. The Company's first decisive act was to dispatch a naval expedition to Africa under Sir Robert Holmes, which established a fort on James Island in the Gambia (1661) It was this that lead to it becoming embroiled in conflict with the Dutch.
In consequence of the charter of 1663 the Company extended its activities east of the Gold Coast, into an area that was becoming known as the "Slave Coast," where it established a trading station at Allada in 1663; slaving voyages were also undertaken to New and Old Calabar, further East. The suggestion that the slave trade had now become the Company's main pursuit is unwarranted. Gold remained the main object of trade; in 1665 the Company estimated its annual revenues from gold sales at L200,000,as against only L100,000 from the delivery of slaves to English Colonies, with a further L100,000 from other commodities (ivory, wax, hides, dye-woods and pepper.) African gold was coined in 'guineas,' stamped with an elephant as the Company's symbol, from 1663 onwards.

The company made an ambitious start, claiming to have established (or re-established) eighteen factories in Africa and dispatched over forty ships to trade there in the first years of its operation .....

[I leave the Holmes expedition to Pedro]

The losses sustained at de Ryuyter's hands (1664-5) ruined the company, which did little trade after1665. The Company licenced private traders from 1669, leased the Gambia trade to a separate company of Gambia adventurers in 1669, and was liquidated and replaced by a new Royal African Company in 1672. Initially the Gambia Adventurers maintained their rights, but in 1678 they were bought out by the Royal African Company. By comparison with the Royal Adventurers, the new company was dominated by merchants rather than courtiers, though James, Duke of Yoork (and later as King) remained titular Governor.

Short summary of:-
P.E. H. Hair and Robin Law
The English in Western Africa to 1700 (with select bibliography)
in Nicholas Canny ed. The Origins of Empire. British Overseas Enterprise to the Close of the Seventeenth Century [Oxford History of the British Empire Vol 1] Oxford: OUP, 1998 pp. 241 - 263, @ pp255-7.

Log in to post an annotation.

If you don't have an account, then register here.

References

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

1663

1664

1665

1667

1668