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Fowle's New Hampshire Gazette And General Advertiser
Portsmouth, Rockingham County, New Hampshire
What is this article about?
Madrid report on the establishment of a new Spanish East India Company with 30 million fund, involving trade routes between Spanish America, Philippines, India, and China, and free port access for all nations in the Philippines.
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The Ordinances relative to the new East India Company is dated the twenty-eighth of last Month; the fund of that Company is to be 30,000,000, of which the Caracas Company, which is returned to it, is to furnish nine, the King five, the bank of Madrid three, and the Inhabitants of the Philippine Islands a similar Sum. The remaining 10,000,000 are to be divided into shares of 1000 Livres each. The Company will be charged with the Equipment of the Merchant Ships destined for Spanish America, where they will find the Merchandize necessary for that Country; and are to receive in Exchange Piastres, Corn, and fruits, which they are to carry to the Philippines, where they will purchase the Goods of India and China. The King permits to all Nations the free Entrance into the Ports of the Philippines. The company will have there a Council of administration: another is to be established at Manilla, and one at Madrid, with which the other two are to correspond.
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What keywords are associated?
Where did it happen?
Foreign News Details
Primary Location
Philippines
Event Date
The Twenty Eighth Of Last Month
Outcome
fund of 30,000,000 established with contributions from caracas company (9m), king (5m), bank of madrid (3m), philippine inhabitants (3m), and shares (10m); free entrance to philippine ports permitted to all nations.
Event Details
Ordinances dated the twenty-eighth of last Month establish the new East India Company. The Company equips merchant ships for Spanish America to exchange for piastres, corn, and fruits, which are carried to the Philippines to purchase India and China goods. Councils to be established at the company, Manilla, and Madrid.