Levant Company

Levant Company
The Levant Company was an English chartered company formed in 1592. Elizabeth I of England approved its initial charter on 11 September 1592 when the Venice Company (1583) and the Turkey Company (1581) merged, because their charters had expired, as she was eager to maintain trade and political alliances with the Ottoman Empire.
Its initial charter was good for seven years and was granted to Edward Osborne, Richard Staper, Thomas Smith and William Garrard with the purpose of regulating English trade with the Ottoman Empire and the Levant. The company remained in continuous existence until being superseded in 1825. A member of the company was known as a Turkey Merchant.
History
The origins of the Levant Company lay in the Italian trade with Constantinople, and the wars against the Turks in Hungary, although a parallel was routed to Morocco and the Barbary Coast on a similar trade winds as early as 1413. The collapse of the Venetian empire, high tariffs, and the ousting of the Genoese from Scio (Chios) had left a vacuum that was filled by a few intrepid adventurers in their own cog vessels with endeavour to reopen trade with the East on their own accounts. Following a decline in trade with the Levant over a number of decades, several London merchants petitioned Queen Elizabeth I in 1580 for a charter to guarantee exclusivity when trading in that region. In 1580 a treaty was signed between England and the Ottoman Empire, giving English merchants trading rights similar to those enjoyed by French merchants. In 1582, William Harborne, an English merchant who had carried out most of the treaty negotiations in Constantinople to French protestations, made himself permanent envoy. But by 1586 Harborne was appointed 'Her Majesty's ambassador' to the Ottoman Empire, with all his expenses (including gifts given to the Sultan and his court) to be paid by the Levant Company.
When the charters of the Venice Company and the Turkey Company expired, both companies were merged into the Levant Company in 1592 after Queen Elizabeth I approved its charter as part of her diplomacy with the Ottoman Empire.
The company had no colonial aspirations, but rather established "factories" (trading centers) in already-established commercial centers, such as the Levant Factory in Aleppo, as well as Constantinople, Alexandria and Smyrna. Throughout the company's history, Aleppo functioned as the central hub for the entire Middle East operations. By 1588, the Levant Company had been converted to a regulated monopoly on an established trade route, from its initial character as a joint-stock company. The prime movers in the conversion were Sir Edward Osborne and Richard Staper.
In January 1592, a new charter was granted and by 1595 its character as a regulated company had become clear. In the early days of the company there were threats not just from Barbary pirates but also from Spain during the 1585 to 1604 war. In that conflict however the company with its heavily armed ships managed to repel the Spanish galleys intent on capturing the cargo in a number of pitched naval battles, in 1586, 1590, 1591 and 1600 The company as a result surrendered some of their ships to the English Crown and were used during the Spanish Armada campaign proving their worth.
James I (1603–25) renewed and confirmed the company's charter in 1606, adding new privileges. However he engaged in a verbal anti-Turk crusade and neglected direct relations with the Turks. The government did not interfere with trade, which expanded. Especially profitable was the arms trade as the Porte modernised and re-equipped its forces. Of growing importance was textile exports. Between 1609 and 1619, the export of cloth to the Turks increased from 46% to 79% of total cloth exports. The business was highly lucrative. Piracy continued to be a threat. Despite the anti-Ottoman rhetoric of the king, commercial relations with the Turks expanded. The king's finances were increasingly based on the revenues derived from this trade, and English diplomacy was complicated by this trade. For example, James refused to provide financial support to Poland for its war against the Turks.
During the English Civil War (1642–1651), some innovations were made in the government of the company, allowing many people to become members who were not qualified by the charters of Elizabeth and James, or who did not conform to the regulations prescribed. Charles II, upon his restoration, endeavored to set the company upon its original basis; to which end, he gave them a charter, containing not only a confirmation of their old one, but also several new articles of reformation.
Organisation in 1661
By the charter of King Charles II in 1661, the company was erected into a body politic, capable of making laws, under the title of the Company of Merchants of England trading to the Seas of the Levant. The number of members was not limited, but averaged about 300. The principal qualification required was that the candidate be a wholesale merchant, either by family, or by serving an apprenticeship of seven years. Those under 25 years of age paid 25 pounds at their admission; those above, twice as much. Each made an oath, at his entrance, not to send any merchandise to the Levant, except on his own account; and not to consign them to any but the company's agents, or factors. The company governed itself by a plurality of voices.
The company had a court, or board at London, composed of a governor, sub-governor, and twelve directors, or assistants; who were all actually to live in London, or the suburbs. They also had a deputy-governor, in every city and port where there were any members of the company. This assembly at London sent out the vessels, regulated the tariff for the price at which the European merchandise sent to the Levant were to be sold; and for the quality of those returned. It raised taxes on merchandise, to defray impositions, and the common expense of the company; presented the ambassador, which the King was to keep at the port; elected two consuls for Smyrna and Constantinople, etc. As the post of ambassador to the Sublime Porte became increasingly important, the Crown had to assume control of the appointment.
One of the best regulations of the company was not to leave the consuls, or even the ambassador, to fix the impositions on the vessels for defraying the common expenses—something that was fatal to the companies of most other nations—but to allow a pension to the ambassador and consuls, and even to the chief officers—including the chancellor, secretary, chaplain, interpreters, and janissaries—so that there was no pretence for their raising any sum at all on the merchants or merchandises. It was true that the ambassador and consul might act alone on these occasions, but the pensions being offered to them on condition of declining them, they chose not to act.
In extraordinary cases, the consuls, and even ambassador himself, had recourse to two deputies of the company, residing in the Levant, or if the affair be very important, assemble the whole nation. Here were regulated the presents to be given, the voyages to be made, and every thing to be deliberated; and on the resolutions here taken, the deputies appointed the treasurer to furnish the required funds. The ordinary commerce of this company employed from 20 to 25 vessels, of between 25 and 30 pieces of cannon.
The merchandises exported there were limited in quality and range, suggesting an imbalance of trade; they included traditional cloths, especially shortcloth and kerseys, tin, pewter, lead, black pepper, re-exported cochineal, black rabbit skins and a great deal of American silver, which the English took up at Cadiz. The more valuable returns were in raw silk, cotton wool and yarn, currants and raisins, nutmeg, black pepper, indigo, galls, camlets, wool and cotton cloth, the soft leathers called maroquins, soda ash for making glass and soap, and several gums and medicinal drugs. Velvet, carpets, and silk were bought by the traders.
The commerce of the company to Smyrna, Constantinople, and İskenderun, was much less considerable than that of the East India Company; but was, more advantageous to England, because it took off much more of the English products than the other, which was chiefly carried on in money. The places reserved for the commerce of this company included all the states of Venice, in the Gulf of Venice; the state of Ragusa; all the states of the "Grand Signior" (the Ottoman Sultan), and the ports of the Levant and Mediterranean Basin; excepting Cartagena, Alicante, Barcelona, Valencia, Marseilles, Toulon, Genoa, Livorno (Leghorn), Civitavecchia, Palermo, Messina, Malta, Majorca, Menorca, and Corsica; and other places on the coasts of France, Spain, and Italy.
Levantine shipping
Ships owned by the Levant Company from 1581 to 1640:
Alathia
Alcede
Alice and Thomas
Alice Thomas
Aleppo Merchant
Angel
Anne Frane
Ascension
Bark Burre
Barque Reynolds
Centurion
Charity
Cherubim
Christ
Clement
Cock
Concord
Consent
Cosklett
Darling
Delight
Desire
Diamond
Dragon
Eagle
Edward Bonaventure
Elizabeth and Dorcas
Elizabeth Cocken
Elizabeth Stoaks
Elnathan
Emanuel
Experience
Freeman
George Bonaventure
Gift of God
Golden Noble
Grayhound
Great Phoenix
Great Suzanne
Greenfield
Guest
Gyllyon
Harry
Harry Bonaventure
Hector
Hercules
Husband
Industry
The Jane
Jesus
Jewel
Job
John
John Francis
Jollian
Jonas
Lanavit
Lewis
Little George
London
Margaret
Margaret Bonaventure
Marget and John
Marigold
Mary
Mary Anne
Mary Coust
Mary Martin
Mary Rose
Mayflower
Merchant Bonaventure
Mignon
Paragon
Peregrine
Phoenix
Primrose
Prosperous
Providence
Rainbow
Rebecca
Recovery
Red Lion
Report
Resolution
Roebuck
Royal Defence
Royal Exchange
Royal Merchant
Saker
Salamander
Salutation
Samaritan
Sampson
Samuel
Saphire
Scipio
Society
Solomon
Suzanne
Suzanne Parnell
Swallow
Teagre
Thomas and William
Thomas Bonaventure
Thomasine
Toby of Harwich
Trinity
Trinity Bear
Triumph
Unicorn
White Hind
William and John
William and Ralph
William and Thomas
William Fortune
Governors
1581–1592 Sir Edward Osborne (nominated in first & second charters)
1592–1592 Richard Staper
1600–1600 Sir Thomas Smith (nominated in third charter)
1605–1623 Sir Thomas Lowe (nominated in fourth charter)
1623–1634 Sir Hugh Hammersley
1634–1643 Sir Henry Garraway
1643–1653 Isaac Penington
1654–1672 Sir Andrew Riccard
1672–1673 John Jolliffe
1673–1695 The Earl of Berkeley
1696–1709 Sir William Trumbull
1710–1718 The Lord Onslow
1718–1735 The Earl of Carnavon
1736–1766 The Earl De La Warr
1766–1772 The Earl of Shaftsbury
1772–1776 The Earl of Radnor
1776–1792 The Earl of Guilford
1792–1799 The Duke of Leeds
1799–1821 The Lord Grenville
The British government took over the Company in 1821 until its dissolution in 1825.
The ambassadors at Constantinople
1582–1588 William Harborne
1588–1597 Edward Barton
1597–1607 Henry Lello
1606–1611 Sir Thomas Glover
1611–1620 Paul Pindar
1619–1621 Sir John Eyre (or Ayres)
1621–1622 John Chapman (agent)
1621–1628 Sir Thomas Roe
1627–1638 Sir Peter Wyche
1633–1647 Sir Sackville Crowe
1647–1661 Sir Thomas Bendysh
Richard Salway (never sent out)
Richard Lawrence (agent only)
1668–1672 Heneage Finch, Earl of Winchilsea
1668–1672 Sir Daniel Harvey
1672–1681 Sir John Finch
1680–1687 James, Lord Chandos
1684–1686 Sir William Soames
1686–1691 Sir William Trumbull
1690–1691 Sir William Hussey
Thomas Coke (chargé d'affaires only)
1691–1692 William Harbord
1692–1702 William, Lord Paget
Sir James Rushout, 1st Baronet (nominated only)
George Berkeley, 1st Earl of Berkeley (nominated only)
1700–1717 Sir Robert Sutton
1716–1718 Edward Wortley-Montagu
1717–1730 Abraham Stanyan
1729–1736 George Hay, 8th Earl of Kinnoull
1735–1746 Sir Everard Fawkener
Stanhope Aspinwall (chargé d'affaires only)
1746–1762 James Porter
1761–1765 Henry Grenville
William Kinloch (chargé d'affaires only)
1765–1775 John Murray
Anthony Hayes (Chargé d'affaires only)
1775–1794 Sir Robert Ainslie
1794–1795 Robert Liston
Spencer Smith (Chargé d'affaires)
Francis James Jackson (never took up appointment)
1799–1803 Thomas Bruce, 7th Earl of Elgin
Alexander Straton (Chargé d'affaires)
1803–1804 William Drummond
1804–1807 Charles Arbuthnot
1809–1810 Robert Adair
1810–1812 Stratford Canning Minister Plenipotentiary
1812–1820 Robert Liston
1820–1824 Percy Clinton, 6th Viscount Strangford.
Consuls
At Smyrna
1611–1624 William Markham
1624–1630 William Salter
1630–1633 Lawrence Green
1633–1634 James Higgins
1634–1635 John Freeman
1635–1638 Edward Bernard
1638–1643 Edward Stringer
1644–1649 John Wilde
1649–1657 Spencer Bretton
1659–1660 William Prideaux
1660–1661 Richard Baker
1661–1667 William Cave
1667–1677 Paul Rycaut
1677–1703 William Raye
1703–1716 William Sherrard
1716–1722 John Cooke
1722–1723 George Boddington
1733–1741 Francis Williams
1741–1742 Thomas Carleton
1742–1762 Samuel Crawley
1762–1794 Anthony Hayes
1794–1825 Francis Werry
At Aleppo
1580–1586 William Barrett
1586–1586 James Toverson
1586–1586 John Eldred
1592–1594 Michael Locke
1596 George Dorrington (acting vice-consul)
1596–1596 Thomas Sandys
1596–1597 Ralph Fitch
1597–1597 Richard Colthurst
vacant
1606 James Hawarde (acting vice-consul)
1606–1610 Paul Pindar
1610–1616 Bartholomew Haggatt
1616–1621 Libby Chapman
1621–1627 Edward Kirkham
1627–1630 Thomas Potton
1630–1638 John Wandesford
1638–1649 Edward Bernard
1649–1659 Henry Riley
1659–1672 Benjamin Lannoy
1672–1686 Gamaliel Nightingale
1686–1689 Thomas Metcalfe
1689–1701 Henry Hastings
1701–1706 George Brandon
1707–1715 William Pilkington
1716–1726 John Purnell
1727–1740 Nevil Coke
1740–1745 Nathaniel Micklethwait
1745–1751 Arthur Pollard
1751–1758 Alexander Drummond
1758–1758 Francis Browne
1759–1766 William Kinloch
1766–1768 Henry Preston
1768–1770 William Clark
1770–1772 Charles Smith (pro-consul)
1770–1783 John Abbott
1783–1784 David Hays (pro-consul)
1784–1786 Charles Smith (pro-consul)
1786–1791 Michael de Vezin (pro-consul)
factory closed 1791–1803
1803–1825 John Barker
Shipping numbers: Turkey and the Levant
Chaplains
Decline
Membership began declining in the early eighteenth century. In its decline the company was looked upon as an abuse, a drain on the resources of Britain. The company's purview was thrown open to free trade in 1754, but continued its activities until dissolution in 1825.
The name of the bird called 'turkey' came from the Turkey merchants.
Turkish opium was bought by the Levant Company.
The Levant Company encompassed American merchants before 1811 who bought Turkish opium. These merchants would sell the opium to the Chinese, beginning in 1806. Among these American Turkey merchants were members of the famous Astor family.
Heraldry
The arms of the Levant Company were: Azure, on a sea in base proper, a ship with three masts in full sail or, between two rocks of the second, all the sails, pennants, and ensigns argent, each charged with a cross gules, a chief engrailed of the third, in base a seahorse proper. * The crest was: On a wreath of the colours, a demi seahorse saliant.
The supporters were: Two seahorses.
The Latin motto was: Deo reip et amicis.
See also
Chartered companies
British foreign policy in the Middle East
Notes
References
Manuscripts
Harley MSS, 306 Standing Ordinances of the Levant Company (ff. 72–74) c. 1590
Lansdowne MSS. 60 Petition of the Turkey and Venice Merchants to be incorporated into one body (f.8) c. 1590–91
MSS Bodleian Library Folio 665, (i List of the Membership of The Levant Company, 1701 (ff. 97–98)
British Museum, 1718. Paragraphs of Some Letters to Prove the Reasonablness of The Levant Company 's late order to carry on their trade by general ships, Bodleian Pamphlets, Folio 666, ff. 288–89.
1718–1719, The Case of The Levant Company, British Museum. 351–356, 6(40)
1825, Proceedings of The Levant Company respecting the Surrender of their Charters, BM6/6259
Sources
Covers the years of the periodic charterers, 1581–1605 and the permanent charter to 1640.
Further reading
External links
http://www.aim25.ac.uk/cgi-bin/vcdf/detail?coll_id=18428&inst_id=118
Chartered companies
Trading companies of England
Defunct companies of England
1592 establishments in England
Trading companies established in the 16th century
Organizations established in the 1590s
British companies disestablished in 1825
Defunct shipping companies of the United Kingdom
Elizabethan era
Economic history of England
Economy of the Ottoman Empire