2. 职称英语
  3. The East India Company The concept of corp

The East India Company The concept of corp

游客2023-09-02  48
问题                                    The East India Company
   The concept of corporations was first established under ancient Roman law. But it wasn’t until England emerged from the Middle Ages that it created what we recognize as the modern corporate structure. It all began on Dec. 31,1600, when Queen Elizabeth I granted a charter to the British East India Corporation, naming the corporation" The Governor and Company of Merchants of London, trading with the East Indies". The corporation conducted business in the East Indies (land that we now consider India and the Middle East) at the order of the queen.
   The East India Company established a few major precedents for modern corporations. But it also shaped the world in countless other ways. With both the financial and military support of the Crown, the EIC served as an instrument of imperialism (帝国主义) for England. The company had its own private army and raised soldiers in the areas it conquered. Its expansionism spurred several wars that produced at least two sovereign nations. Among its many claims to fame (and notoriety), the EIC indirectly built Yale University, helped create two nations and was the world’s 1o~rgest drug-dealing operation in the 18th century.
   The company was ruthless (无情的)in its quest for profits. Parliament even called the EIC tyrannical(残暴的). However, without the EIC, England may have never developed into the nation it is today.
The Creation of the East India Company
   When the British East India Company (EIC) was formed in 1600, there were already other East India Companies operating on behalf of France, the Netherlands, Spain and Portugal. Thanks to the naval route that explorer Vasco da Gama discovered, riches from the Orient were pouring into Europe. With other nations importing fortunes in goods and plunder, Queen Elizabeth decided England should get some, too. So she granted the charter for the East India Company.
   The charter she issued created the first official joint-stock corporation. A joint-stock corporation is composed of investors who are granted shares in a company. In return for their initial Investments, shareholders are given dividends, or percentages, of the company’s profits based on the number of shares the investor holds.
   Shares and dividends were not new Concepts in. England. Twenty years prior to the EIC’ s charter, Queen Elizabeth was already a major stakeholder In Sir Francis Drake’s ship, the Golden Hind. Although it’s not certain how much she made from Drake’s voyages to the New World, the captain himself made a 5 000 percent return on his initial investment.
   So a joint-stock corporation like the one Queen Elizabeth formed in the East India Company wasn’t much of a financial leap. But it was the first of its kind, and following the establishment of the  EIC,its Dutch, French and other competitors followed suit. But granting charter to the EIC wasn’t the only part of the prototype for modern corporations that Queen Elizabeth devised.
   Under the support of her royal authority, Elizabeth also limited the liability of the EIC’ s investors-including hers. This made the company the world’s first limited liability corporation (abbreviated as LLC in the United States and Ltd. in the United Kingdom). Under an LLC, the investors in a corporation are granted protection from losing any more money than their initial investments in the venture. If the company goes under, the investors only lose the amount of money they put into the LLC. The company’s outstanding debts aren’t divided up among its investors.
   Although it took several decades for the East India Company to become truly profitable, once it did, the company rose to global domination--both in business and in government. In a symbiotic way, as the company grew in power, so, too, did England. So it’s no surprise that during its existence, the company was directly involved in major geopolitical changes: The EIC literally changed the course of history. Two nations, India and the United States, revolted against East India Company rule, which led to the establishment of their current political structures.
The East India Company and the United States
   American and British schoolchildren are taught about the notorious Tea Act of 1773, which led to the rebellious Boston Tea Party. But exactly why the Boston colonists threw thousands of pounds of tea into Boston Harbor may be less clear. It’s actually due to a secret agreement between the government and the East India Company.
   The Tea Act was designed by Parliament specifically to help the EIC unload the millions of pounds of unsold tea in its English warehouses. The Americas were the designated recipients of the surplus tea. The Tea Act withdrew any taxes levied on the EIC for the tea it stored and sold-but it maintained the tax on all other tea sold in the colonies. This was equal to outlawing (宣布为不合法) tea from any source other than the EIC, including small, colonial tea outfits. It would be like the United States government forcing all of today’s Americans to purchase Apple computers only. Ultimately, the Tea Act allowed the EIC to drive its competition out of business. Colonists deemed this an unfair practice--government was supporting one business’s interests at the expense of the liberty--and it gave rise to the famous slogan" no taxation without representation".
   Rather than agree to this corporate/government secret agreement, about 150 colonists dumped the EIC’ s new shipment of tea into Boston Harbor. The English government showed its allegiance to the East India Company when Parliament demanded that colonists reimburse(偿还) the company for the nearly $ i million (in 21st-century dollars) worth of tea. To enforce this demand, the British Navy was called in to blockade the harbor. The tension created by this situation directly led the colonists into the Revolutionary War.
The East India Company and India
   Perhaps it was being stationed halfway across the world from the East India Company’s home offices in London. Or maybe it was the potential for wealth afforded by India’s riches. Either way, Elihu Yale (the benefactor for whom Yale University is named) was tempted into .building his own smuggling operation. His dismissal from his post as the EIC governor of Madras was a light sentence compared to the fates of others who ran afoul of the company.
   Perhaps Yale got away with his life because of the work he’d done on behalf of the EIC. Thanks to factories (colonies or settlements) nm by men tike Yale ,the East India Company was able to subjugate India and its tribal rulers. The company built forts in India to house its private army. The EIC also raised soldiers from within the native populations. With the establishment of martial rule (the government set up in a land occupied by military) profits could be garnered easily. Perhaps the most profitable export for the company’s India operations was opium (鸦片).
   By 1750, the EIC had established control over India’s most productive sites of opium cultivation. By 1793, Britain had a monopoly on opium, and no Indian grower was allowed to sell his crops to any other company,
   The British colonialism carried out through the EIC was pretty brutal. It included the forceful seizure of land and deposing of rulers. Tribute, taxes and loyally were extracted from average citizens through methods. up to and including torture. Ultimately, the British presence proved to be unacceptable for some Indians. A number of sepoys (native Indians who joined the EIC’s militia) revolted against the EIC’s rule during the. Sepoy Rebellion of 1857. Some historians consider this India’s first war for independence, even though it was queued by the British army. Afterward, Great Britain officially occupied the country. India would remain an English colony until 1947, when it became a constitutional republic.
   The eventual creation of modern-day India and the United States are but two major world events that have the East India Company’s fingerprints. It would be nearly impossible to trace the entire legacy-both positive and negative impacts--that the East India Company had on the world. With direct involvement in so many different aspects of our world, perhaps the question isn’t "how did the East India Company change the world", but "how didn’t it?"
选项 A、from early seventeenth century
B、from the Middle Ages
C、under ancient Roman law
D、from the ending of the industrial revolution
答案 A
解析 由题干中the modern corporate structure可定位到第一段第二、三句But it wasn’t until England emerged from the Middle Ages that it created what we recognize as the modern corporate structure．It all began on Dec. 31, 1600, when...文中it wasn’t until England emerged from the Middle Ages说明英国从中世纪走出后，才有the modern corporate structure，B)与之不符。原文第三句中it指代the modern corporate structure，文中的 Dec. 31, 1600相当于early seventeenth century。故A)为答案。
转载请注明原文地址:https://tihaiku.com/zcyy/2978979.html
相关试题推荐
随机试题
最新回复(0)