EASTERN (BALTIC) JOINT STOCK COMPANY

Abstract

We set out to study the history of the Eastern (Baltic) Joint Stock Company, founded by Britain.

The British East India Company (Eastland-Baltic Company) was founded in 1579, following the example of the Moscow Company (1555).

This company was monopolistic and privileged.

A study of the British East India Company (Baltic Company) has shown that from its founding until the end of the 17th century, it gained a monopoly on trade in the East. According to the charter, its area of operation included Norway, Sweden, Poland, Prussia, Finland, and the Netherlands. Pirates were rife at sea, competing with the Hanseatic League, but this did not deter the English, as Baltic trade was extremely important to the English economy. Goods exported from the Baltic Sea contributed to the development and equipment of its fleet, which ensured the country's defense and stability. In the early years of the company's existence, the main imports were grain, flax, and hemp, and in the 17th century, potash and timber. In turn, England exported mainly textiles, leather, furs, potash, and timber to the Baltic states. Initially, the main export product was cloth. However, by the beginning of the 17th century, the sale of cloth had become less profitable. Therefore, in addition to cloth, the export of fox skins, lambskin, gray and black rabbit skins, as well as lead, tin, saffron, and coal played an important role.

After the company was founded, English merchants settled in Elbing and established themselves there in more favorable conditions than they had enjoyed in Danzig, which they maintained for half a century. English merchants were keen on the economic well-being of their country and in many cases outperformed their competitors.

The Baltic (East) Trading Company, like other English companies, played an important role in the development of the country's foreign trade. Later, the focus gradually shifted from Baltic trade to transatlantic trade. The East India and West India Trading Companies were created, which contributed to England's colonial expansion and economic development.

Keywords: Share, monopoly, charter, merchant-adventurers, mercers, alderman, resident.