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2024-05-03 02:22:42

Royal African Company

English trading company in 1660
English trading company in 1660
The Royal African Company was established in 1660 by the House of Stuart and City of London merchants. It traded along the West African coast, focusing on gold and later becoming heavily involved in the slave trade. The company lost its monopoly in 1697 and eventually became insolvent in 1708.
1660
Establishment of the Royal African Company
The Royal African Company (RAC) was founded in 1660 by the House of Stuart and City of London merchants to trade along the West African coast. Initially focused on trading for gold in the Gambia River, the company later became heavily involved in the transatlantic slave trade.
1663
Incorporation of slave trade in the Company's charter
In 1663, a new charter was obtained by the Company of Royal Adventurers Trading into Africa, which included the trade in slaves, marking a significant shift in their operations.
1664
Establishment of Fort James on the Gambia river
In 1664, Fort James was founded on an island about twenty miles up the Gambia river, serving as a new center for English trade and power in the region.
1667
Collapse and Reemergence of Royal African Company
In 1667, the original Company of Royal Adventurers Trading to Africa collapsed due to mounting debts, reemerging in 1672 as the Royal African Company (RAC) with a new royal charter.
1668
Formation of the Gambia Adventurers
In 1668, the Royal African Company created the Gambia Adventurers, a separate entity granted a ten-year license for African trade north of the Bight of Benin, enhancing their commercial activities.
1670
Establishment of Royal African Company forts and trading posts
The Royal African Company established forts and trading posts along the African coast, with its headquarters at Cape Coast Castle on the Gold Coast (modern-day Ghana). They brought various professionals and workers to build these establishments.
1672
Foundation of the Royal African Company
The Royal African Company emerged in 1672 from the collapse of the Company of Royal Adventurers, being granted a monopoly in the slave trade.
1674
Proclamation under Charles II regarding Royal African Company
In 1674, a proclamation was issued under the reign of Charles II detailing the history of conflicts between England and African nations, as well as the establishment of the Royal African Company. The proclamation aimed to address Englishmen encroaching on the Company's monopoly and reaffirm its exclusive rights and domains.
1681
Establishment of the Royal African Company
The Royal African Company was established in 1681 as a British mercantile company to trade in West Africa. It held a monopoly on the English trade in African slaves, gold, and ivory for over two decades.
1689
End of Royal African Company's Monopoly
In 1689, the Royal African Company lost its monopoly due to the Glorious Revolution, leading to the cessation of issuing letters of marque. Edward Colston transferred shares to William III to gain favor with the new regime.
1691
Transfer of Shares from Champion Ashby to Thomas Louws
In 1691, Champion Ashby transferred his shares of the Royal African Company to Thomas Louws. This transfer likely occurred due to the loss of the company's slave trade monopoly, increased competition, the overthrow of King James II, and issues of mismanagement.
1697
Rescinding of the Royal African Company's Monopoly
Under pressure from the Parliament of England, William III rescinded the Royal African Company's monopoly in 1697. This decision led to the decline of the company, which eventually became insolvent by 1708.
1698
End of Monopoly of the Royal African Company
In 1698, the Royal African Company acknowledged the loss of its monopoly on the trade due to the Glorious Revolution, leading to a shift from slave trading to ivory and gold dust.
1708
Royal African Company Insolvency
In 1708, the Royal African Company became insolvent due to the inability to withstand competition under the Trade with Africa Act. It survived in a reduced state until 1750.
1709
Charles Davenant's Pamphlet on Trade to Africa
In 1709, Charles Davenant published a pamphlet advocating for the renewal of the Royal African Company's monopoly on the slave trade, citing Dutch competition as a reason for the necessity of a joint-stock company.
1731
Shift in Focus of the Royal African Company
In 1731, the Royal African Company abandoned slave trading in favor of dealing with ivory and gold dust, marking a significant change in its operations.
1750
Dissolution of the Royal African Company
The Royal African Company, which traded in enslaved persons and gold from Africa, was dissolved in 1750 with the creation of the Company of Merchants Trading to Africa by Parliament. This marked the end of the RAC's operations.
1752
Dissolution of the Royal African Company
In 1752, the Royal African Company dissolved, marking the end of its operations. It was succeeded by the African Company of Merchants.
1778-06
Company of Merchants Trading to Africa for the Port of London
In June 1778, the Company of Merchants Trading to Africa for the Port of London was active. This company was involved in trading with Africa and had a significant presence in the port of London.
1997
Dissolution of the Royal African Company
The Royal African Company was dissolved in 1997.
End of the Timeline
Royal African Company

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Royal African Company

English trading company in 1660
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