Louis XIV's East India Company in the context of "French India"

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⭐ Core Definition: Louis XIV's East India Company

Louis XIV's East India Company (French: Compagnie des Indes orientales) was a joint-stock company founded in the Kingdom of France in August 1664 to engage in trade in India and other Asian lands, complementing the French West India Company (French: Compagnie des Indes occidentales) created three months before. It was one of several successive enterprises with similar names, a sequence started with Henry IV's first French East Indies Company in 1604 and continued with Cardinal Richelieu's Compagnie d'Orient in 1642. Planned by Jean-Baptiste Colbert to compete with the English East India Company and Dutch East India Company, it was chartered by King Louis XIV for the purpose of trading in the Eastern Hemisphere.

Louis XIV's company became insolvent and was reorganized in 1685, and was again bankrupt in 1706. In 1719, what remained of it was acquired by John Law's Company, which in 1723 became the French Indies Company active during much of the 18th century.

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👉 Louis XIV's East India Company in the context of French India

French India, formally the Établissements français dans l'Inde (English: French Settlements in India), was a French colony comprising five geographically separated enclaves on the Indian subcontinent that had initially been factories of the French East India Company. They were de facto incorporated into the Republic of India in 1950 and 1954. The enclaves were Pondichéry, Karikal, Yanaon on the Coromandel Coast, Mahé on the Malabar Coast and Chandernagor in Bengal. The French also possessed several loges ('lodges', tiny subsidiary trading stations) inside other towns, but after 1816, the British denied all French claims to these, which were not reoccupied.

By 1950, the total area measured 510 km (200 sq mi), of which 293 km (113 sq mi) belonged to the territory of Pondichéry. In 1936, the population of the colony totalled 298,851 inhabitants, of which 63% (187,870) lived in the territory of Pondichéry.

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Louis XIV's East India Company in the context of East Indiaman

East Indiamen were merchant ships that operated under charter or licence for European trading companies which traded with the East Indies between the 17th and 19th centuries. The term was commonly used to refer to vessels belonging to the British, Dutch, French, Danish, Swedish, Austrian or Portuguese East India companies.

Several East Indiamen chartered by the British East India Company (EIC) were known as clippers. The EIC held a monopoly granted to it by Elizabeth I in 1600 for all English trade between the Cape of Good Hope and Cape Horn. This grant was progressively restricted during the late 18th and early 19th centuries, until the monopoly was lost in 1834. EIC East Indiamen usually ran between Britain, the Cape of Good Hope and India, where their primary destinations were the ports of Bombay, Madras and Calcutta.

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Louis XIV's East India Company in the context of Vincent de Gournay

Jacques Claude Marie Vincent de Gournay (French: [də ɡuʁnɛ]; 28 May 1712, Saint-Malo, Province of Brittany – 27 June 1759, Cádiz), was a French economist, who became an intendant of commerce. Some historians of economics believe that he coined the phrase laissez faire, laissez passer. Evidence was to be found when the French State parted the East India Company privilege (monopoly) on the slave trade. He is also credited with coining the term "bureaucracy". Together with François Quesnay, whose disciple he was, he was a leader of the Physiocratic School.

Gournay's father was Claude Vincent, a merchant in Saint-Malo as well as a secretary to the king. Gournay didn't write much, but had a great influence on French economic thought through his conversations with many important theorists. He became instrumental in popularizing the work of Richard Cantillon in France.

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Louis XIV's East India Company in the context of Warren Hastings

Warren Hastings FRS (6 December 1732 – 22 August 1818) was a British colonial administrator, who served as the first governor of the Presidency of Fort William (Bengal), the head of the Supreme Council of Bengal, and so the first governor-general of Bengal in 1772–1785. He and Robert Clive are credited with laying the foundation of the British Empire in India. He was an energetic organizer and reformer. In 1779–1784, he led forces of the East India Company against a coalition of native states and the French. In the end, the well-organised British side held its own, while France lost influence in India. In 1787, he was accused of corruption and impeached, but he was eventually acquitted in 1795 after a long trial. He was made a privy councillor in 1814.

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Louis XIV's East India Company in the context of John Law's Company

John Law's Company, founded in 1717 by Scottish economist and financier John Law, was a joint-stock company that occupies a unique place in French and European monetary history, as it was for a brief moment granted the entire revenue-raising capacity of the French state. It also absorbed all previous French chartered colonial companies and was popularly known as the Compagnie du Mississippi (Mississippi Company), even though under Law's leadership its overseas operations remained secondary to its domestic financial activity.

In February 1720, the company acquired John Law's Bank, which had been France's first central bank. The experiment was short-lived, and after a stock market collapse of the company's shares in the second half of 1720 (the Mississippi Bubble), the company was placed under government receivership in April 1721. It emerged from that process in 1723 as the French Indies Company, focused on what had been the overseas operations of Law's Company.

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Louis XIV's East India Company in the context of Ostend Company

The Ostend Company (Dutch: Oostendse Compagnie; French: Compagnie d'Ostende), officially the General Company Established in the Austrian Netherlands for Commerce and Navigation in the Indies (French: Compagnie générale établie dans les Pays-Bas Autrichiens pour le Commerce et la Navigation aux Indes) was a chartered trading company in the Austrian Netherlands (modern-day Belgium) in the Holy Roman Empire which was established in 1722 to trade with the East and West Indies. It took its name from the Flemish port city of Ostend.

For a few years it provided strong competition for the more established British, Dutch, and French East India Companies, notably in the lucrative tea trade with China. It established two settlements in India. Despite its profitability, the company was eventually ordered to close down in 1731 after the British government exerted diplomatic pressure on Austria, fearing the company's effects on their own traders. Its disestablishment was made a precondition for the Treaty of Vienna and for creating an alliance between the two states. The Ostend Company can be considered the first attempt by Austria to trade with the East Indies; the second being the much less successful Austrian East India Company, founded in 1775.

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Louis XIV's East India Company in the context of Jean-Baptiste Colbert

Jean-Baptiste Colbert (French: [ʒɑ̃.ba.tist kɔl.bɛʁ]; 29 August 1619 – 6 September 1683) was a French statesman who served as First Minister of State from 1661 until his death in 1683 under the rule of King Louis XIV. His lasting impact on the organization of the country's politics and markets, known as Colbertism, a doctrine often characterized as a variant of mercantilism, earned him the nickname le Grand Colbert ([lə ɡʁɑ̃ kɔl.bɛʁ]; "the Great Colbert").

A native of Reims, he was appointed Intendant of Finances on 4 May 1661. Colbert took over as Controller-General of Finances, a newly created position, in the aftermath of the arrest of Nicolas Fouquet for embezzlement, an event that led to the abolishment of the office of Superintendent of Finances. He worked to develop the domestic economy by raising tariffs and encouraging major public works projects, as well as to ensure that the French East India Company had access to foreign markets, so that they could always obtain coffee, cotton, dyewoods, fur, pepper, and sugar. He acted to create a favorable balance of trade and increase colonial holdings. As there was slavery in the colonies, in 1682, Colbert commissioned the beginning of a project that would become the Code Noir in 1685, two years after his death. In addition, he founded France's merchant navy (marine marchande), becoming Secretary of State of the Navy in 1669.

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