The Ups and Downs of the east India Comany

During the past 250-300 years Britain's trade with the rest of the world grew dramatically. One of the most important elements of this expansion, is that English merchants, had a great navy backing them up on their voyages. So along with the navy controlling newer lands, the merchants provided the Britain with raw material such as wool from Australia and cotton from America and India.         Much of the credit should however go to the merchants, …

…because of the renewal of its character every 20 years the company gradually lost its privileges in trade. The company's monopoly was broken in 1813 and was almost extinct by 1833, by which time it was no longer a commercial agency, but only a administrative agency. In 1858 after the introduction civil service examinations, the last power came to an end. So in 1858 the company was totally abolished and India came under the direct rule of the British crown.