Henley Probus Club

CHAIRMAN Tony Brown welcomed members to the 498th meeting of Henley Probus Club and briefed us on the plans for the celebration of our 500th meeting in August.

Following a short business update, Luke S Degan gave a very interesting and enlightening illustrated talk on “The East India Company — the Greatest Organisation”.

He explained that the British Empire was the largest in history by a considerable margin, much larger than the Mughal and Russian empires.

He highlighted that the West India Company traded between Europe, Africa and America and was made up of Dutch, French, Danes and Swedes.

The company was a maritime powerhouse which at its height accounted for half of all the world’s trade.

It was the earliest joint stock company and the very first to issue shares to private investors.

Between 1600 and 1874 it undertook more than 5,000 sailings. Early expeditions in search of sources of spices were conducted by Vasco de Gama and Sir Francis Drake, among others.

The company was granted a royal charter on the last day of 1600 by Elizabeth I. Many of the early expeditions went to the far-off Spice Islands where the Dutch, Spanish and Portuguese had already established themselves.

The trade in cloves, nutmeg, mace, cinnamon and especially pepper was highly lucrative.

Trade with the Mughal Empire, present day India, was centred around Bombay, Madras and Calcutta where the first British outposts were established.

Trade was primarily in diamonds, gems, textiles, indigo, pepper and saltpetre. The company subsequently expanded into both China and Japan, trading in porcelain, tea, silk and opium.

In monetary terms, the East India Company dwarfed today’s most successful multinationals with trade accounting for £45 trillion in today’s money.

Initial investors realised a 5,000 per cent return on their investment. The company was dissolved in 1858 but left a lasting legacy, especially on the Indian subcontinent, with the huge rail network, legal system, English language and the love of the game of cricket.

Robin Rippon gave the vote of thanks to Luke and said how much he had brought history to life.

Following the talk Luke joined members for a very enjoyable two-course lunch.

Henley Probus Club meets at Badgemore Park on the second Tuesday of each month. This starts with an informal gathering of its members (plus visitors) for a discussion and coffee, with the formal meeting commencing at 11.30am followed by a lunch.

If anyone is interested in joining the club, please call our membership secretary Roger Griffiths on (01491) 575137 or email regriffiths
44@gmail.com or visit our website, https://henleymens
probus.org.uk/contact-us

• The club, which started in 1978, is planning to celebrate its 500th monthly meeting with a summer lunch at Greenlands, Henley Business School, on August 13. After lunch there will be a 20-minute trip on Rivertime with the compliments of Simon Davis.

Roger Roberts