The Collapse
n the 17th and 18th centuries the VOC was the largest trading and shipping
company in the world. The Company employed thousands of people, owned some
thirty settlements in Asia and six chambers in the Dutch Republic as well
as a fleet of more than one hundred ships. At the end of the 18th century,
however, this multinational enterprise went bankrupt. The directors were simply
nor prepared for demands which the immense company, the tremendous distances
and long-term planning placed on them. The convoluted bookkeeping and the
six departments in the Dutch Republic did not make running the Company efficiently
and effectively any easier The VOC had to protect its favourable trading position
and vast possessions against European competitors and Asian monarchs. The
shift of goods to Europe (tea, sugar, pepper and tin) was bad for the Company.
The Company fell into serious debt and only with considerable government support
could it hope to overcome these problems. Both the States General and the
States of Holland were prepared to supply extensive credits because tremendous
economic interests were involved. The collapse of the Company would be disastrous
for the cities where the chambers were located. The Company, however, was
trapped in a vicious circle and despite the considerable financial support
there was too little money to send sufficient ships and personnel to Asia.
The End
On Boxing Day 1794, almost two hundred years after the adventurous departure of the first four ships the final VOC ship left the roadsted at Texel. The next day it reached Duins where it was confiscated by the English. The same thing happened to many returning ships in 1795. Batavia could only be reached under a neutral flag. The English took over the Dutch trading posts one by one and eventually the VOC could no longer bear the consequences of the Fourth English War. The Company was nationalized , personnel dismissed, ships sold and shipyards closed. In 1803 the Chambers of Delft, Hoorn and Enkhuizen were disolved. The final patent expired on December 31, 1799and the government took over all outstanding debts to the amount of 119 million guilders. In 1805 trde was de-controlled. The future showed a completely different relation between Holland and East India. It was a sad and quiet end of a glorious trading company.
