a great English company, originally simply a trading association, which played an important part in the history of Hindustan. It was formed in 1590 in London, with a subscribed capital of about $150,000, for the purpose of trade with the East Indies. A charter was granted to it by Queen Elizabeth in 1600, giving it the monopoly of trade from the Cape of Good Hope eastward to the Strait of Magellan. In 1609 James I renewed the charter and made it perpetual, reserving power to the crown to recall it at three years' notice. Additional power was granted to the company of seizing and confiscating ships and goods of contraband traders, either in the British dominions or in any of the places where they were authorized to trade. The political rights which it held in India made possible oppressive rule there, and this led in 1784 to the appointment of a Board of Control which supervised all acts of the company except the purely commercial. In 1813 the charter was renewed on condition that the right of exclusive trade should be restricted to China, while the Indian trade should be thrown open to all British subjects. The renewal of the company's charter in 1834 took place amid great opposition to their mercantile and even to their legislative privileges, and on the outbreak of the mutiny of 1857 it was felt indispensable to vest the government of India directly in the Crown. This was accordingly done in 1858. Henceforth the company existed only for the purpose of receiving payment of the dividends due upon capital.