Early Companies
he nine merchants joined forces and established their 'Far Lands Company'.
On April 2, 1595 the Mauritius, Amsterdam, Hollandia and the yacht Duyfken
sailed southward. The expedition, however, was not successful. Due to lack
of manpower the Amsterdam was left behind in Asia and in 1597 the remaining
ships reached the Republic. Only 87 out of a crew of 240 had survived. The
profit yielded by the return cargo of pepper barely covered the expenses.
Despite lack of success, however, the Far Lands Company had demonstrated that
Dutch shipping to Asia was possible via the Portuguese route around the Cape
of Good Hope. Between 1595 and 1601 eight different companies dispatched a
total of sixty-five ships spread over fifteen fleets. From Amsterdam, Rotterdam,
Hoorn, Enkhuizen, Middelburg, Veere and Delft fleets up to eight ships set
sail. This type of organization was called a 'company'. They were basically
occasional enterprises: ships were bought or built, provided with equipment
and crew and upon return the crew was dismissed and the goods and ships were
sold
Joining Forces
The overwhelming success, however, soon turned against the enthusiastic entrepreneurs. Dutch merchants began competing fiercely and in this way prices were driven up, whereas at home prices fell because of the ample supply. Although the Dutch merchants recognized the need for co-operation, they remained unwilling to join forces. The various parties came together only under the pressure from the central government and a treaty was signed on March 20, 1602. The local companies agreed to merge into a single Verenigde Oostindische Compagnie (VOC= United Dutch East Asia Company), which received the monopoly on all Dutch trade and shipping to Asia.
