The new banknotes were welcomed because they were lighter, easier to carry, and more convenient for trade. The bank also found that paper currency encouraged greater commercial activity.
John Hancock, one of Boston’s wealthiest merchants and a leading figure in Boston politics, forcibly removed customs officials from his ship Lydia.
European and Japanese naval forces fought for the first time at the Battle of Fukuda Bay.
Chinese officials boarded the Arrow and arrested its crew on suspicion of piracy and smuggling, prompting British authorities to claim that the Chinese had violated the vessel’s British protection, and prompting hostilities.
The Hudson’s Bay Company maintained a monopoly over trade in the area for over 200 years, ensuring it had a lasting impact on the economic and political development of what would later become Canada.
Sir Stamford Raffles, who had been appointed Lieutenant-Governor of Bencoolen in modern Indonesia, had identified Singapore as an ideal location for the British East India company due to its natural harbour and strategic position along the Straits of Malacca.
The First Barbary War lasted until June 1805, but continuing tensions led to the Second Barbary War in 1815.
France and the United States signed the first two treaties ever negotiated by the American government, and which formally recognised the independence of the United States.
Formally titled “The Governor and Company of Merchants of London trading into the East Indies,” the East India Company was established to capitalise on the lucrative spice trade.
By the start of the 17th century merchants from the Dutch Republic had begun to undertake voyages to the ‘Spice Islands’ of the Indian Ocean.
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