Casa da Índia
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The Casa da Índia (,
English English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national ide ...
: ''India House'' or ''House of India'') was a Portuguese state-run commercial organization during the
Age of Discovery The Age of Discovery (or the Age of Exploration), also known as the early modern period, was a period largely overlapping with the Age of Sail, approximately from the 15th century to the 17th century in European history, during which seafarin ...
. It regulated
international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...
and the
Portuguese Empire The Portuguese Empire ( pt, Império Português), also known as the Portuguese Overseas (''Ultramar Português'') or the Portuguese Colonial Empire (''Império Colonial Português''), was composed of the overseas colonies, factories, and the ...
's territories, colonies, and
factories A factory, manufacturing plant or a production plant is an industrial facility, often a complex consisting of several buildings filled with machinery, where workers manufacture items or operate machines which process each item into another. T ...
across Asia and Africa. Central to the Casa da Índia's objectives was the establishment and protection of a Portuguese '' mare clausum'' (total control of the seas) in the
Atlantic Ocean The Atlantic Ocean is the second-largest of the world's five oceans, with an area of about . It covers approximately 20% of Earth's surface and about 29% of its water surface area. It is known to separate the " Old World" of Africa, Europe ...
,
Indian Ocean The Indian Ocean is the third-largest of the world's five oceanic divisions, covering or ~19.8% of the water on Earth's surface. It is bounded by Asia to the north, Africa to the west and Australia to the east. To the south it is bounded by t ...
,
Arabian sea The Arabian Sea ( ar, اَلْبَحرْ ٱلْعَرَبِيُّ, Al-Bahr al-ˁArabī) is a region of the northern Indian Ocean bounded on the north by Pakistan, Iran and the Gulf of Oman, on the west by the Gulf of Aden, Guardafui Channel ...
, and the
Indies The East Indies (or simply the Indies), is a term used in historical narratives of the Age of Discovery. The Indies refers to various lands in the East or the Eastern hemisphere, particularly the islands and mainlands found in and around ...
. It was founded by King
Manuel I of Portugal Manuel I (; 31 May 146913 December 1521), known as the Fortunate ( pt, O Venturoso), was King of Portugal from 1495 to 1521. A member of the House of Aviz, Manuel was Duke of Beja and Viseu prior to succeeding his cousin, John II of Portuga ...
in 1500 to direct Portugal's monopoly of the spice trade and to manage royal policy for Portuguese India. Following 1503, it absorbed the '' Casa da Guiné e Mina'', an organization founded by Prince Henry the Navigator in 1443, which operated under a similar mandate for Portuguese Africa, thus making the Casa da Índia responsible for the regulation of all Portuguese imperial trade, the administration of Portuguese trade posts and military bases in Asia and Africa, and protection of the
Portuguese Crown This is a list of Portuguese monarchs who ruled from the establishment of the Kingdom of Portugal, in 1139, to the deposition of the Portuguese monarchy and creation of the Portuguese Republic with the 5 October 1910 revolution. Through the nea ...
's commercial interests. Founded with the intent of protecting Portugal's
monopoly A monopoly (from Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a speci ...
on the spice trade, the Casa da Índia began financing and organizing the
Portuguese India Armadas The Portuguese Indian Armadas ( pt, Armadas da Índia) were the fleets of ships funded by the Crown of Portugal, and dispatched on an annual basis from Portugal to India. The principal destination was Goa, and previously Cochin. These armada ...
in 1497, annual armadas of
galleon Galleons were large, multi-decked sailing ships first used as armed cargo carriers by European states from the 16th to 18th centuries during the age of sail and were the principal vessels drafted for use as warships until the Anglo-Dutch W ...
s, carracks, and
caravel The caravel (Portuguese: , ) is a small maneuverable sailing ship used in the 15th century by the Portuguese to explore along the West African coast and into the Atlantic Ocean. The lateen sails gave it speed and the capacity for sailing win ...
s transporting commodities, like gold, ivory, and spices, between Lisbon and the Portuguese trade posts and colonies across Africa and Asia. The Casa da Índia sponsored numerous famous Portuguese navigators, including Vasco da Gama (who discovered the sea route to India),
Pedro Álvares Cabral Pedro Álvares Cabral ( or ; born Pedro Álvares de Gouveia; c. 1467 or 1468 – c. 1520) was a Portuguese nobleman, military commander, navigator and explorer regarded as the European discoverer of Brazil. He was the first human in ...
(who discovered
Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...
), and Afonso de Albuquerque (who established Portuguese hegemony in the
Indian Ocean The Indian Ocean is the third-largest of the world's five oceanic divisions, covering or ~19.8% of the water on Earth's surface. It is bounded by Asia to the north, Africa to the west and Australia to the east. To the south it is bounded by t ...
). Throughout the 15th and 16th centuries, the Casa da Índia rapidly grew into an economically powerful institution, playing a crucial role in the financing of the Portuguese discoveries and expeditions throughout
West Africa West Africa or Western Africa is the westernmost region of Africa. The United Nations defines Western Africa as the 16 countries of Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, M ...
, East Africa, the
Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabia (including the Arabian Peninsula and Bahrain), Asia Minor (Asian part of Turkey except Hatay Province), East Thrace (Europ ...
,
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
, and the
East Indies The East Indies (or simply the Indies), is a term used in historical narratives of the Age of Discovery. The Indies refers to various lands in the East or the Eastern hemisphere, particularly the islands and mainlands found in and around ...
. The Casa da Índia similarly played an important role in the development of modern
cartography Cartography (; from grc, χάρτης , "papyrus, sheet of paper, map"; and , "write") is the study and practice of making and using maps. Combining science, aesthetics and technique, cartography builds on the premise that reality (or an i ...
, patronizing the '' Padrão Real'', one of the first
early world maps The earliest known world maps date to classical antiquity, the oldest examples of the 6th to 5th centuries BCE still based on the flat Earth paradigm. World maps assuming a spherical Earth first appear in the Hellenistic period. The developments ...
. From its origins in the 1400s until its dissolution in 1833, the Casa da Índia's principal objectives changed with time, as did its relationships with the
Crown of Portugal A crown is a traditional form of head adornment, or hat, worn by monarchs as a symbol of their power and dignity. A crown is often, by extension, a symbol of the monarch's government or items endorsed by it. The word itself is used, partic ...
and the imperial administration. Following 1642, it lost all of its trade monopolies on gold, silver, ivory, spices, and other precious commodities, transforming the organization's purview to solely a trade regulator and customs agency. Following the destruction of its
Ribeira Palace Ribeira Palace (; pt, Paço da Ribeira) was the main residence of the Kings of Portugal, in Lisbon, for around 250 years. Its construction was ordered by King Manuel I of Portugal when he found the Royal Alcáçova of São Jorge unsuitable. The ...
headquarters and facilities in the Great Lisbon Earthquake of 1755, the Casa da Índia grew increasingly obsolete in relation to Portugal's transforming trade and colonial policies, leading to most of its functions being slowly absorbed into ministries and agencies of the
Portuguese government , border = Central , image = , caption = , date = , state = Portuguese Republic , address = Official Residence of the Prime Minister Estrela, Lisbon , appointed = President ...
until its final dissolution in 1833.


History


Origins

The forerunners of ''Casa da Índia'' arose with the Portuguese exploration of the African coast, to manage new trade opportunities. As early as 1434 the ''Casa de Ceuta'' was founded in Lisbon, but it was not very successful because the Muslim merchants diverted the trade routes from
Ceuta Ceuta (, , ; ar, سَبْتَة, Sabtah) is a Spanish autonomous city on the north coast of Africa. Bordered by Morocco, it lies along the boundary between the Mediterranean Sea and the Atlantic Ocean. It is one of several Spanish territorie ...
to other places. Around 1443 in
Lagos Lagos (Nigerian English: ; ) is the largest city in Nigeria and the second most populous city in Africa, with a population of 15.4 million as of 2015 within the city proper. Lagos was the national capital of Nigeria until December 1991 fo ...
, Algarve, the ''Casa de Arguim'' and '' Casa da Guiné'', were established to administer Prince Henry the Navigator's monopoly on African trade - essentially a set of sheds, warehouses and customs offices, dedicated to outfitting ships, hiring captains and crews, handing out trading licenses, receiving and selling goods and collecting dues. After the death of Henry the Navigator in 1460, both houses were moved by King
Afonso V of Portugal Afonso V () (15 January 1432 – 28 August 1481), known by the sobriquet the African (), was King of Portugal from 1438 until his death in 1481, with a brief interruption in 1477. His sobriquet refers to his military conquests in Northern Afri ...
from
Lagos Lagos (Nigerian English: ; ) is the largest city in Nigeria and the second most populous city in Africa, with a population of 15.4 million as of 2015 within the city proper. Lagos was the national capital of Nigeria until December 1991 fo ...
to Lisbon. The ascension of King
John II of Portugal John II ( pt, João II; ; 3 March 1455 – 25 October 1495), called the Perfect Prince ( pt, o Príncipe Perfeito, link=no), was King of Portugal from 1481 until his death in 1495, and also for a brief time in 1477. He is known for re-establishi ...
in 1481 revived the royal interest in African trade. In 1482, upon erecting the fortress of
São Jorge da Mina Elmina Castle was erected by the Portuguese in 1482 as Castelo de São Jorge da Mina (''St. George of the Mine Castle''), also known as ''Castelo da Mina'' or simply ''Mina'' (or '' Feitoria da Mina''), in present-day Elmina, Ghana (formerly th ...
to access the
Akan Akan may refer to: People and languages *Akan people, an ethnic group in Ghana and Côte d'Ivoire *Akan language, a language spoken by the Akan people *Kwa languages, a language group which includes Akan * Central Tano languages, a language group ...
goldfields and markets, John II overhauled the old houses and organized the system into two new institutions in Lisbon - the royal trading house, the ''Casa da Mina e Tratos de Guiné'', focused on commercial aspects of African trade (goods, licenses, dues), and the separate royal naval arsenal, the ''Armazém da Guiné'', to handle nautical matters (ship construction, nautical supplies, hiring of crews, etc.) In 1486, after the opening of contact with
Benin Benin ( , ; french: Bénin , ff, Benen), officially the Republic of Benin (french: République du Bénin), and formerly Dahomey, is a country in West Africa. It is bordered by Togo to the west, Nigeria to the east, Burkina Faso to the nort ...
, John II established the ''Casa de Escravos'', as a distinct slave-trading department of the ''Casa da Mina''.


Golden age

With the discovery of a sea route to
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
by Vasco da Gama in 1497-99, the spice trade became a new and important activity of the royal trading house, and the old ''Casa'' was reorganized into the ''Casa da Índia e da Guiné'' (the first written reference to a ''Casa da Índia'' was in a royal letter dated 1501). From 1511, offices of the ''Casa da Índia'' were located on the ground floor of the royal
Ribeira Palace Ribeira Palace (; pt, Paço da Ribeira) was the main residence of the Kings of Portugal, in Lisbon, for around 250 years. Its construction was ordered by King Manuel I of Portugal when he found the Royal Alcáçova of São Jorge unsuitable. The ...
on Terreiro do Paço in Lisbon, with the Armazém just next to it. The
Portuguese India Armadas The Portuguese Indian Armadas ( pt, Armadas da Índia) were the fleets of ships funded by the Crown of Portugal, and dispatched on an annual basis from Portugal to India. The principal destination was Goa, and previously Cochin. These armada ...
(''Armadas da Índia'') were the fleets of ships, organized by the Casa da Índia in name of the
Portuguese Crown This is a list of Portuguese monarchs who ruled from the establishment of the Kingdom of Portugal, in 1139, to the deposition of the Portuguese monarchy and creation of the Portuguese Republic with the 5 October 1910 revolution. Through the nea ...
, and dispatched on an annual basis from Portugal to India, principally
Goa Goa () is a state on the southwestern coast of India within the Konkan region, geographically separated from the Deccan highlands by the Western Ghats. It is located between the Indian states of Maharashtra to the north and Karnataka to the ...
. These armadas undertook the ''Carreira da Índia'' ("India Run"), following the sea route around the Cape of Good Hope first opened up by Vasco da Gama in 1497–1499. For about thirty years, from 1503 to 1535, the Portuguese cut into the Venetian spice trade in the Mediterranean. By 1510, the Portuguese throne was pocketing a million
cruzados The Cruzados were a 1980s rock band from Los Angeles, California. History The Cruzados were formed in 1983 by the members of The Plugz, featuring members Tito Larriva, Tony Marsico, Steven Hufsteter, Chalo Quintana, The band's self-titled a ...
yearly from the spice trade alone, and it was this which led
Francis I of France Francis I (french: François Ier; frm, Francoys; 12 September 1494 – 31 March 1547) was King of France from 1515 until his death in 1547. He was the son of Charles, Count of Angoulême, and Louise of Savoy. He succeeded his first cousin on ...
to dub King
Manuel I of Portugal Manuel I (; 31 May 146913 December 1521), known as the Fortunate ( pt, O Venturoso), was King of Portugal from 1495 to 1521. A member of the House of Aviz, Manuel was Duke of Beja and Viseu prior to succeeding his cousin, John II of Portuga ...
"le roi épicier", that is, "the grocer king." Income started to decline mid-century because of costs of maintaining a presence in Morocco and domestic waste. Also, Portugal did not develop a substantial domestic infrastructure to support this activity, but relied on foreigners for many services supporting their trading enterprises, and therefore a lot of the income was consumed in this way. In 1549 the Portuguese trade center in Antwerp went bankrupt and was closed. As the crown became more overextended in the 1550s, it relied more and more on external financing. By about 1560 the income of the Casa da Índia was not able to cover its expenses. The Portuguese monarchy had become, in Garrett Mattingly's phrase, the owner of "a
bankrupt Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
wholesale grocery business."


Decline

In 1709 at the Casa da Índia, the Jesuit priest Father Bartolomeu de Gusmão demonstrated the principles of hot air ballooning. He managed to levitate a ball indoors at the Casa da Índia in Lisbon. He later fled from Portugal to Spain, for fear of being accused of performing magic by the
Inquisition The Inquisition was a group of institutions within the Catholic Church whose aim was to combat heresy, conducting trials of suspected heretics. Studies of the records have found that the overwhelming majority of sentences consisted of penances, ...
The Great Earthquake of 1755 destroyed much of Lisbon, including
Ribeira Palace Ribeira Palace (; pt, Paço da Ribeira) was the main residence of the Kings of Portugal, in Lisbon, for around 250 years. Its construction was ordered by King Manuel I of Portugal when he found the Royal Alcáçova of São Jorge unsuitable. The ...
, where the headquarters and naval yards of the Casa da Índia were located. The final era of the Casa da Índia began in 1822, during the reign of King John VI of Portugal, when a large number of its responsibilities were transferred to different ministries of the
Portuguese Government , border = Central , image = , caption = , date = , state = Portuguese Republic , address = Official Residence of the Prime Minister Estrela, Lisbon , appointed = President ...
. In 1833, the Casa da Índia was finally dissolved, by King Miguel I of Portugal, and its functions were absorbed by the ''Alfândega de Lisboa'' (Customs Agency of Lisbon).


Organization

Although initially (c.1500) consolidated in one unit, the ''Casa da Índia e da Guiné'', it was separated again (c. 1506) into two distinct units, ''Casa da Índia'' and the ''Casa da Mina e da Guiné'' again. However, both houses were overseen by the same officers at the higher levels, so it was common to use the joint term, or simply just ''Casa da Índia'', to refer to both. The Casas were overseen by the same director and the same three treasurers (''tesoreiros'') - one for receiving goods, one for the sale of goods, and a third to handle everything else. There were five secretaries in charge of the administration - three for India, two for Mina and Guinea - and one chief factor (''feitor'') in charge of schedules and correspondence with all the Portuguese '' feitorias'' around the world. One of the most famous people to hold this position was the chronicler João de Barros, who was appointed ''feitor'' in 1532. The Casa was in charge of monitoring the royal monopoly on the Asian and African trade, i.e. receiving goods, collecting
duties A duty (from "due" meaning "that which is owing"; fro, deu, did, past participle of ''devoir''; la, debere, debitum, whence "debt") is a commitment or expectation to perform some action in general or if certain circumstances arise. A duty may ...
on incoming goods, organizing the fleets (notably the yearly
Portuguese India Armadas The Portuguese Indian Armadas ( pt, Armadas da Índia) were the fleets of ships funded by the Crown of Portugal, and dispatched on an annual basis from Portugal to India. The principal destination was Goa, and previously Cochin. These armada ...
) and shipping schedules, ratifying contracts with private merchants, etc. The ''Casa'' had various ''mesas'' (departments) focused on specific areas - the spice trade, finances, ship scheduling, maintenance, training, documentation and legal matters.


Shipyards

Separately from the ''Casa'' was the ''Armazém da Guiné e Índias'', the new name for the naval arsenal. It was assigned all nautical responsibilities, such as the running of the Lisbon dockyards, the construction of ships, the hiring and training of crews and supplying the fleets with equipment - sails, ropes, guns, nautical instruments and maps. The ''Piloto-Mor'' of the ''Armazém'', a position held between 1503 and 1526 by Pero Anes, Gonçalo Álvares and João de Lisboa, was probably responsible for the training of
pilot An aircraft pilot or aviator is a person who controls the flight of an aircraft by operating its directional flight controls. Some other aircrew members, such as navigators or flight engineers, are also considered aviators, because they a ...
-
navigator A navigator is the person on board a ship or aircraft responsible for its navigation.Grierson, MikeAviation History—Demise of the Flight Navigator FrancoFlyers.org website, October 14, 2008. Retrieved August 31, 2014. The navigator's primar ...
s and the drafting of navigational charts. In 1547, the position of ''Cosmógrafo-mor'' (High-Cosmographer) was created for the famed mathematician Pedro Nunes and the cartographic duties passed over to him. The ''Provedor dos Armazéns'' was in charge of screening and hiring of crews. The ''Almoxarife'' or ''Recebedor dos Armazéns'', was the customs-collector, a highly-profitable job that was once held by Bartolomeu Dias in the mid-1490s. Although theoretically separate, the ''Casa'' and the ''Armazém'' kept in contact and coordinated matters with each other, the expenses from one charged to the treasurer of the other, and officers moved seamlessly between them. As a result, it was common to use ''Casa da Índia'' to refer to the whole complex.


Operations

In 1504 all trading activities in Africa and, especially, in Asia were merged in the Casa da Índia, becoming subject to state control under the Portuguese kings. Under the supervision of the ''Vedor da Fazenda'' (chief royal treasurer) all products had to be handed over to the Casa, taxed and sold at an agreed price with the proceeds paid to the owners.


Cartography

The Casa da Índia produced a secret map called the '' Padrão Real'', one of the first
early world maps The earliest known world maps date to classical antiquity, the oldest examples of the 6th to 5th centuries BCE still based on the flat Earth paradigm. World maps assuming a spherical Earth first appear in the Hellenistic period. The developments ...
. The
Cantino planisphere The Cantino planisphere or Cantino world map is a manuscript Portuguese world map preserved at the Biblioteca Estense in Modena, Italy. It is named after Alberto Cantino, an agent for the Duke of Ferrara, who successfully smuggled it from Portu ...
is the only existing copy of the ''Padrão Real''. The Teixeira planisphere was made by Domingos Teixeira in 1573.


Customs

The ''Casa da Índia'' worked as customs, central accounting office for funds and products in various overseas offices,
archive An archive is an accumulation of historical records or materials – in any medium – or the physical facility in which they are located. Archives contain primary source documents that have accumulated over the course of an individual or ...
,
warehouse A warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial parks on the outskirts of cities ...
management, personnel authority of sailors, soldiers and traders, as well as one of the world's first postal services. It fixed the prices and checked purchases, sales and payments. And also fitted the fleets, gathered the necessary military convoys, managed incoming and outgoing vessels and set out the various certificates and licenses. Through the Casa da Índia the royal officials were appointed overseas, and royal decrees and regulations were spread. Between 1506 and 1570, Casa da Índia enforced the royal monopoly on all imports and sales of
spices A spice is a seed, fruit, root, bark, or other plant substance primarily used for flavoring or coloring food. Spices are distinguished from herbs, which are the leaves, flowers, or stems of plants used for flavoring or as a garnish. Spices are ...
- pepper, cloves, and cinnamon - silk and
shellac Shellac () is a resin secreted by the female lac bug on trees in the forests of India and Thailand. It is processed and sold as dry flakes and dissolved in alcohol to make liquid shellac, which is used as a brush-on colorant, food glaze and ...
, as well as on the export of gold, silver, copper and
coral Corals are marine invertebrates within the class Anthozoa of the phylum Cnidaria. They typically form compact colonies of many identical individual polyps. Coral species include the important reef builders that inhabit tropical oceans and ...
, and levied a 30 percent tax on the profits of other articles.


Royal monopolies

The royal monopoly on
copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkis ...
exports especially made great gains, as copper was in high demand in India and West Africa, to where it was exported in the form of armlets called ''
manillas Manillas are a form of commodity money, usually made of bronze or copper, which were used in West Africa.Chamberlain, C. C.(1963). The Teach Yourself ''Guide to Numismatics''. English Universities Press. p. 92. They were produced in large number ...
'', which served as a form of
money Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as ...
.
Copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkis ...
was the "red gold" of Africa, exported as ''
manillas Manillas are a form of commodity money, usually made of bronze or copper, which were used in West Africa.Chamberlain, C. C.(1963). The Teach Yourself ''Guide to Numismatics''. English Universities Press. p. 92. They were produced in large number ...
'', the ring-like armlets which served as a form of
money Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as ...
or
barter In trade, barter (derived from ''baretor'') is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists disti ...
coinage amongst certain
West African West Africa or Western Africa is the westernmost region of Africa. The United Nations geoscheme for Africa#Western Africa, United Nations defines Western Africa as the 16 countries of Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, ...
peoples in Guinea Coast,
Gold Coast Gold Coast may refer to: Places Africa * Gold Coast (region), in West Africa, which was made up of the following colonies, before being established as the independent nation of Ghana: ** Portuguese Gold Coast (Portuguese, 1482–1642) ** Dutch G ...
, see Chamberlain, C. C.(1963). The Teach Yourself ''Guide to Numismatics''. English Universities Press. P. 92. From contemporary records, we know the earliest Portuguese were made in Antwerp; between 1504 and 1507 Portugal exported 287,813 ''manillas'' into Guinea via San Jorge da Mina. vide Einzig, Paul (1949). ''Primitive Money in its ethnological, historical and economic aspects.'' Eyre & Spottiswoode. London. P. 155.
From 1495 to 1521 the Portuguese Crown bought in Antwerp, then the center of international trade, approximately 5,200 tonnes copper mainly from the Fugger of Hungary ( Thurzo-Fugger company), which was shipped mostly to India. In 1506, about 65% of the state income was produced on overseas activity. The monopoly of trade remained profitable until 1570, and strengthened the equity and credit capacity of Portugal. The share of the Crown's total trade with Asia in 1506 amounted to about 25% and increased steadily to 50% or more, but never entirely displaced the private traders: the trade monopoly was accompanied always by free trade in other products such as textiles, weapons, paper and salted fish, such as Bacalhau. Royal monopolies were also leased out sometimes by Casa da Índia to private traders for a certain period. After 1570, the monopolies were abolished, except for the purchase of spices and the trade in copper and silver.


See also

*
Casa de Contratación The ''Casa de Contratación'' (, House of Trade) or ''Casa de la Contratación de las Indias'' ("House of Trade of the Indies") was established by the Crown of Castile, in 1503 in the port of Seville (and transferred to Cádiz in 1717) as a cr ...
, the Spanish counterpart of the Casa da Índia * Company of Guinea *
Age of Discovery The Age of Discovery (or the Age of Exploration), also known as the early modern period, was a period largely overlapping with the Age of Sail, approximately from the 15th century to the 17th century in European history, during which seafarin ...
* Portuguese Discoveries *
Portuguese Renaissance The Portuguese Renaissance refers to the cultural and artistic movement in Portugal during the 15th and 16th centuries. Though the movement coincided with the Spanish and Italian Renaissances, the Portuguese Renaissance was largely separate from o ...
*
Economic history of Portugal The economic history of Portugal covers the development of the economy throughout the course of Portuguese history. It has its roots prior to nationality, when Roman occupation developed a thriving economy in Hispania, in the provinces of Lusi ...


References


Notes

* ''Note on the Castiglioni Planisphere'', Armando Cortesao, Imago Mundi, Vol. 11, 1954 (1954), pp. 53–55 * House of India, Encyclopædia Britannica. * ''The Dating of the Oldest Portuguese Charts'', Alfredo Pinheiro Marques, Imago Mundi, Vol. 41, 1989 (1989), pp. 87–97 * ''Brazil depicted in early maps'', Arthur Dürst, Cartographica Helvetica 6 (1992) 8–16.
''Sixteenth-Century Portugal, Chapter Twelve of A History of Spain and Portugal'', Stanley G. Payne, THE LIBRARY OF IBERIAN RESOURCES ONLINE, Volume 1.
{{DEFAULTSORT:Casa da India Chartered companies Defunct companies of Portugal Colonial Indian companies Economic history of Portugal Maritime history of Portugal Trading companies Portuguese India Portuguese India Armadas Portuguese in Kerala 1434 establishments in Portugal 1833 disestablishments in Portugal Organizations established in the 1430s Organizations disestablished in the 19th century Monarchy and money