DUTCH WEST INDIA COMPANY

byname of West India Company, Dutch West-Indische Compagnie Dutch trading company, founded in 1621 mainly to carry on economic warfare against Spain and Portugal by striking at their colonies in the West Indies and South America and on the west coast of Africa. While attaining its greatest success against the Portuguese in Brazil in the 1630s and '40s, the company depleted its resources and thereafter declined in power. It was dissolved in 1794. Governed by a board representing various regions of the Netherlands, the company was granted a monopoly of the trade with the Americas and Africa and the Atlantic regions between them. With military and financial support from the States General (the Dutch national assembly), the company acquired ports on the west African coast to supply slaves for plantations in the West Indies and South America. The company's trade, however, was never sufficient to finance operations against Spain, Portugal, and England in areas where the latter were well equipped to defend themselves. Using booty acquired from the capture by the Dutch seaman Piet Heyn of part of a Spanish treasure fleet off Cuba in 1628, the company challenged the Portuguese hold on Brazil beginning in 1630 and attained its greatest success during the administration of Count John Maurice (163644). The effort proved too costly, however, and the Dutch company capitulated to the Portuguese in 1654. The company also established several colonies in the West Indies and Guiana between 1634 and 1648, including Aruba, Curaao, and Saint Martin, but later lost many of them to the French. The Dutch colony in North America, New Netherland (renamed New York in the mid-1660s), became a province of the company in 1623. A combination of low Dutch immigration, autocratic administration, and under-investment, however, damaged the ability of New Netherland to compete with the neighbouring English colonies, and it was ceded to the English in 1667. The Dutch West India Company was much less successful than the Dutch East India Company, its counterpart in Southeast Asia. The West India Company was taken over by the state in 1791 and was dissolved in the wake of the French invasion of the Dutch Republic in 1794.