The company sought a permanent establishment, while Parliament would not willingly allow it greater autonomy and so relinquish the opportunity to exploit the company's profits. Meghan and Prince Harry attend the Commonwealth Day Service at Westminster Abbey with all of the royal family. But it was bad weather, rather than naval excellence, that dispersed the Spanish fleet and delivered the country from invasion. For a period of fifteen years, the charter awarded the company a monopoly [26] on English trade with all countries east of the Cape of Good Hope and west of the Straits of Magellan.

Real Reason the Royal Family Isn’t Allowed to Play Monopoly The Real Reason the Royal Family Isn’t Allowed to Play Monopoly

Ganj-i-Sawai carried enormous wealth and, according to contemporary East India Company sources, was carrying a relative of the Grand Mughal, though there is no evidence to suggest that it was his daughter and her retinue. Unable to obtain Japanese raw silk for export to China, and with their trading area reduced to Hirado and Nagasaki from 1616 onwards, the company closed its factory in 1623. Competition arose in 1635 when Charles I granted a trading licence to Sir William Courteen, which permitted the rival Courteen association to trade with the east at any location in which the EIC had no presence. Francis Bacon argued that they should proceed by petition rather than bill, but Robert Wingfield and others objected that this strategy had failed before.Eventually, the company ended the trade in 1834 after numerous legal threats from the British state and the Royal Navy in the form of the West Africa Squadron, which discovered various ships had contained evidence of the illegal trade. The amalgamated company became the United Company of Merchants of England Trading to the East Indies. With the Acts of Union 1707, the canton was changed to the new Union Flag—consisting of an English St George's Cross combined with a Scottish St Andrew's cross—representing the Kingdom of Great Britain. The Execution of Robert Devereux, 2nd Earl of Essex, Claire Ridgway, 25 February 2010, The Elizabeth Files. Licences such as trading exemptions undermined well-intentioned legislation and were in effect the same as monopolies.

Elizabeth I Essex Rebellion Of 1601 : Elizabeth I

An Act for raising a Sum not exceeding Two Millions upon a Fund for Payment of Annuities after the Rate of Eight Pounds per Cent. It quickly became evident that, in practice, the original company faced scarcely any measurable competition.

He furthermore complained that ‘Parleamente matters are ordinarye talke in the streetes’, having heard crowds of people railing against monopolies while driving back and forth in his coach. These vessels often accompanied vessels of the Royal Navy on expeditions, such as the Invasion of Java.