HIS: This Day in History: 1600 – The British East India Company is chartered.

The East India Company (EIC), also known as the Honourable East India Company (HEIC), East India Trading Company (EITC), the English East India Company or (after 1707) the British East India Company, and informally known as John Company, Company Bahadur, or simply The Company, was an English, and later British, joint-stock company founded in 1600. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with Qing China. The company seized control of large parts of the Indian subcontinent, colonised parts of Southeast Asia and Hong Kong after the First Opium War, and maintained trading posts and colonies in the Persian Gulf Residencies.

Originally chartered as the "Governor and Company of Merchants of London Trading into the East-Indies", the company rose to account for half of the world's trade during the mid-1700s and early 1800s, particularly in basic commodities including cotton, silk, indigo dye, sugar, salt, spices, saltpetre, tea, and opium. The company also ruled the beginnings of the British Empire in India.

The company eventually came to rule large areas of India, exercising military power and assuming administrative functions. Company rule in India effectively began in 1757 after the Battle of Plassey and lasted until 1858 when, following the Indian Rebellion of 1857, the Government of India Act 1858 led to the British Crown assuming direct control of India in the form of the new British Raj.

Despite frequent government intervention, the company had recurring problems with its finances. The company was dissolved in 1874 as a result of the East India Stock Dividend Redemption Act enacted one year earlier, as the Government of India Act had by then rendered it vestigial, powerless, and obsolete. The official government machinery of the British Raj had assumed its governmental functions and absorbed its armies.

Comments

HIS: This Day in History: 1999 – Olusegun Obasanjo takes office as President of Nigeria, the first elected and civilian head of state in Nigeria after 16 years of military rule.

HIS: This Day in History: 1999 – Olusegun Obasanjo takes office as President of Nigeria, the first elected and civilian head of state in Nigeria after 16 years of military rule. In 1993, Sani Abacha seized power in a military coup. Openly critical of Abacha's administration, in 1995 Obasanjo was arrested and convicted of being part of a planned coup, despite protesting his innocence. While imprisoned, he became a born again Christian, with providentialism strongly influencing his subsequent worldview. He was released following Abacha's death in 1998. Entering electoral politics, Obasanjo became the PDP candidate for the 1999 presidential election, which he won comfortably. As president, he de-politicised the military and both expanded the police and mobilised the army to combat widespread ethnic, religious, and secessionist violence. He withdrew Nigeria's military from Sierra Leone and privatised various public enterprises to limit his country's spiralling debt. He was...

HIS: This Day in History: 1343 – Pope Clement VI issues the papal bull Unigenitus to justify the power of the pope and the use of indulgences. Nearly 200 years later, Martin Luther would protest this.

In the teaching of the Catholic Church, an indulgence (Latin: indulgentia, from indulgeo, 'permit') is "a way to reduce the amount of punishment one has to undergo for sins". The Catechism of the Catholic Church describes an indulgence as "a remission before God of the temporal punishment due to sins whose guilt has already been forgiven, which the faithful Christian who is duly disposed gains under certain prescribed conditions through the action of the Church which, as the minister of redemption, dispenses and applies with authority the treasury of the satisfactions of Christ and all of the saints". The recipient of an indulgence must perform an action to receive it. This is most often the saying (once, or many times) of a specified prayer, but may also include the visiting of a particular place, or the performance of specific good works. Indulgences were introduced to allow for the remission of the severe penances of the early Church and granted at the ...

HIS: 1997 – Fela Kuti, Nigerian singer-songwriter and activist died of AIDS in Lagos.

HIS: 1997 – Fela Kuti, Nigerian singer-songwriter and activist died of AIDS in Lagos. Fela Aníkúlápó Kuti (born Olufela Olusegun Oludotun Ransome-Kuti; 15 October 1938 – 2 August 1997), also known as Abami Eda, was a Nigerian multi-instrumentalist, bandleader, composer, political activist, and Pan-Africanist. He is regarded as the pioneer of Afrobeat, an African music genre that combines West African music with American funk and jazz. At the height of his popularity, he was referred to as one of Africa's most "challenging and charismatic music performers". AllMusic described him as a musical and sociopolitical voice of international significance. Kuti was the son of Nigerian women's rights activist Funmilayo Ransome-Kuti. After early experiences abroad, he and his band Africa 70 (featuring drummer and musical director Tony Allen) shot to stardom in Nigeria during the 1970s, during which he was an outspoken critic and target of Nigeria's military juntas. In 1970,...

His Onyichinaz

Search This Blog