From riches to rags: the East India Company in London

Ashley Coates on how the world’s most controversial company left its mark on the capital
East India Dock, Blackwall, in 1806
Ashley Coates23 August 2016

On December 31, 1600, Elizabeth I put her name to a Royal Charter giving a group of London merchants monopoly trading rights in the Far East. In so doing, the monarch had established what would become one of the most controversial and significant companies in history. 



The East India Company came to dominate not only European trade with South Asia but as a company-come-coloniser, it also took over the administration of much of the Indian subcontinent. By 1803, it had a private army of 260,000 men, and was the vehicle through which British control of India was coordinated. 



East India Company territories are shown in pink, they were formally made British territories in 1858.
Public Domain

The whole enterprise was headquartered out of the “Monster of Leadenhall” – a 200-foot long building on Leadenhall Street in the City of London. Built along classical lines, it had previously been used as a residence for the Lord Mayor of London. In 1861, the building was torn down following the absorption of the company’s territories into the British Empire and the start of Queen Victoria’s period as Empress of India.

No plaque exists to commemorate East India House, and today this corner of the City is the site of the Lloyds of London building, completed in 1978.

A watercolour of "East India House," on Leadenhall Street, by Thomas Malton the Younger (1748-1804)
Public Domain

The ships of the East India Company were predominately carriers of commodity goods such as silk, cotton, spices, salt, tea, indigo dye and opium. Head out towards Blackwall and the East India DLR Station in Leamouth, you will pass through a section of the docklands that was once the main docking area for these vessels.

The East India Docks were capable of holding up to 250 ships at a time but today most of it has been filled in, with the Grade-II listed lock gates the only prominent reminder of the commercial activity that used to take place here. Though the docks may no longer be visible, the local area gives a nod towards its previous occupants. The neighbouring roads are named after the goods that were once brought here by the East Indiamen: Clove Crescent, Oregano Drive, Nutmeg Lane and Saffron Avenue being a few.



The EIC is infamous for the way in which it colonised and then subjugated so much of Southern Asia, not as a nation-state but as a joint-stock company, with a board of directors, answerable to shareholders. Its approach to the business of colonisation has led historian William Dalrymple to describe the venture as “the supreme act of corporate violence in world history”.

Tipu’s Tiger at the V&A: Made for the ruler of Mysore in the late 1700s.
Victoria and Albert Museum

Much of the company’s heritage can now be found in the National Maritime Museum at Greenwich and in the British Library. The V&A also has holdings from the EIC, including the truly bizarre Tipu’s Tiger, which is both a sculpture and an organ that can be made to simulate the sounds of a dying European soldier being mauled by a tiger.

Operating during the golden age of the gentlemen’s club, the EIC’s directors felt that a suitable London club needed to be established for “the servants of the East India Company and Commissioned Officers of Her Majesty's Army and Navy”. Based near Chatham House in St James’s Square, the East India Club remains open to this day.

Following the Indian Rebellion of 1857, the company’s territories were handed over to the British Crown and in 1874, the company itself was wound up. Following the dissolution of the firm, the memb criteria was expanded and it counts among its past and present members Randolph Churchill, Denis Thatcher and Nigel Farage.



The club today boasts 66 bedrooms and 100 reciprocal clubs around the world.

Hugh Chevallier

The most recent iteration of the EIC has been its 2010 relaunch as a luxury goods brand, selling teas, coffees, chocolates and other items at stores around the capital. The ships, grand buildings, dockyards and overseas territories may be gone, but the company continues to be a presence on the British high street.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in