Levant Company

Levant Company
Company type	Chartered company
Industry	Trade, commerce
Founded	1592
Founder	Edward Osborne, Richard Staper, Thomas Smith, William Garrard
Defunct	1825
Fate	Dissolved; British government control from 1821 until closure
Headquarters	London, England
Area served	Ottoman Empire, Levant region, Mediterranean ports
Key people	Sir Edward Osborne, Richard Staper, Sir Thomas Smith
Products	Textiles (shortcloth, kerseys), tin, pewter, lead, black pepper, cochineal, black rabbit skins, American silver; imports included raw silk, cotton wool and yarn, currants, raisins, nutmeg, indigo, galls, camlets, wool and cotton fabrics, maroquin leather, soda ash, gums, medicinal substances, velvet, carpets, silk
Number of employees	Approximately 300 members (merchants) (circa 1661)

The Levant Company was an English chartered company formed in 1592 through the consolidation of the Venice Company (established 1583) and the Turkey Company (founded 1581), following the lapse of their respective charters. On 11 September 1592, Queen Elizabeth I of England granted a seven-year charter aimed at overseeing and advancing English commerce with the Ottoman Empire and the broader Levant region, reflecting both economic and geopolitical priorities. Among its founders were notable figures such as Edward Osborne, Richard Staper, Thomas Smith, and William Garrard. The company remained active until its formal dissolution in 1825. Its members were commonly referred to as Turkey Merchants.

History

The roots of the Levant Company can be traced to Italian trade activities with Constantinople and military conflicts involving the Turks in Hungary, with early commercial routes reaching as far as Morocco and the Barbary Coast by 1413. The decline of Venetian dominance, combined with onerous tariffs and the Genoese expulsion from Scio (Chios), opened opportunities that English merchants seized by deploying their own ships to revive Eastern trade. After a prolonged downturn in Levant commerce, London traders petitioned Queen Elizabeth I in 1580 to secure an exclusive trading charter. That same year, an agreement was reached granting English merchants privileges within the Ottoman Empire equivalent to those enjoyed by the French. William Harborne played a key role in these negotiations, subsequently becoming a permanent envoy and later Her Majesty's ambassador to the Ottoman court, with his position financially supported by what would become the Levant Company.

Following the expiration of the Venice and Turkey Companies' charters, they united under Elizabeth I’s 1592 charter to form the Levant Company, aligning with diplomatic efforts toward the Ottoman Empire. The company concentrated on establishing trading posts, or "factories," in key commercial cities such as Aleppo—which served as the primary Middle Eastern base—Constantinople, Alexandria, and Smyrna. By 1588, it had evolved from a joint-stock enterprise into a regulated monopoly overseeing this critical trade corridor, under leadership figures like Sir Edward Osborne and Richard Staper.

A renewed charter in 1592 further defined its status as a regulated entity by 1595. Early challenges included threats from Barbary corsairs and Spanish forces during the Anglo-Spanish War (1585–1604). The company’s armed vessels successfully defended against several Spanish naval assaults (notably in 1586, 1590, 1591, and 1600). Some of its ships were requisitioned by the Crown for use during operations against the Spanish Armada, underscoring their strategic importance.

In 1606, James I extended and broadened the company's charter but simultaneously adopted an anti-Turkish stance while neglecting direct diplomatic engagement. Nevertheless, trade prospered without governmental interference, particularly in arms sales as the Ottoman military underwent modernization. Textile exports also expanded dramatically—from representing 46% to 79% of total cloth exports between 1609 and 1619—making these ventures highly lucrative. Piracy continued to pose risks. The Crown increasingly depended on revenues generated through this commerce, complicating foreign policy; for instance, James I declined to provide financial aid to Poland against Ottoman forces.

During the English Civil War (1642–1651), governance reforms permitted wider membership beyond those originally qualified under the charter. After the monarchy’s restoration, Charles II aimed to reinstate the company's initial framework by issuing a charter reaffirming previous rights while implementing further reforms.

Organisation in 1661

Under the 1661 charter granted by King Charles II, the company was formally recognized as a body politic and took the title Company of Merchants of England trading to the Seas of the Levant. Its membership typically consisted of around 300 wholesale merchants, who qualified either through family connections or by completing a seven-year apprenticeship. The entrance fee was set at 25 pounds for applicants under 25 years of age, with those older required to pay twice that amount. Members pledged not to dispatch goods to the Levant except on their own behalf and solely via company agents. Decisions were made by majority vote.

The London court was composed of a governor, sub-governor, and twelve directors, all residing within London or its suburbs. Deputy-governors were appointed in principal cities and ports. This governing body oversaw the deployment of ships, regulated tariffs on European merchandise destined for the Levant, maintained quality standards for imported goods, and imposed levies to finance company operations. It also appointed ambassadors—whose increasing significance led to Crown oversight—and selected consuls stationed in Smyrna and Constantinople.

A crucial rule prohibited consuls or ambassadors from charging merchants fees; instead, they received pensions to prevent conflicts of interest. On rare occasions, consuls or ambassadors would consult company deputies in the Levant or summon the entire merchant community to resolve important issues, financing these meetings through a designated treasurer. The company generally operated between 20 and 25 armed vessels, each equipped with 25 to 30 cannons.

The limited range of exports reflected trade imbalances; these included textiles such as shortcloth and kerseys, tin, pewter, lead, black pepper, re-exported cochineal, black rabbit skins, and significant quantities of American silver obtained from Cádiz. Imports of high value encompassed raw silk, cotton wool and yarn, currants, raisins, nutmeg, indigo, galls, camlets, wool and cotton fabrics, maroquin soft leathers, soda ash used in glassmaking and soap production, gums, medicinal substances, velvet, carpets, and silk.

While its trade volume in Smyrna, Constantinople, and İskenderun was less than that of the East India Company’s operations there, it provided greater benefit to England by absorbing more English goods rather than relying on cash transactions. The company’s trading privileges extended over Venetian territories in the Gulf of Venice; Ragusa; all Ottoman lands; and Levantine as well as Mediterranean ports—excluding Cartagena, Alicante, Barcelona, Valencia, Marseille, Toulon, Genoa, Livorno (Leghorn), Civitavecchia, Palermo, Messina, Malta, Mallorca, Menorca, Corsica; along with other coastal cities in France, Spain, and Italy.

Levantine shipping

Vessels owned by the Levant Company between 1581 and 1640 included:

Alathia
Alcede
Aleppo Merchant
Alice and Thomas
Angel
Ascension
Barque Reynolds
Centurion
Charity
Cherubim
Christ
Clement
Concord
Consent
Darling
Delight
Desire
Diamond
Dragon
Eagle
Edward Bonaventure
Elizabeth and Dorcas
Elizabeth Cocken
Emanuel
Experience
Freeman
George Bonaventure
Golden Noble
Grayhound
Great Phoenix
Great Suzanne
Greenfield
Guest
Harry Bonaventure
Hector
Hercules
Industry
The Jane
Jesus
Jewel
Job
John Francis
Jonas
Lewis
Little George
London
Margaret Bonaventure
Marigold
Mary Rose
Mayflower
Merchant Bonaventure
Paragon
Peregrine
Phoenix
Primrose
Prosperous
Providence
Rainbow
Rebecca
Recovery
Red Lion
Report
Resolution
Roebuck
Royal Defence
Royal Exchange
Royal Merchant
Saker
Salamander
Salutation
Samaritan
Sampson
Samuel
Saphire
Scipio
Society
Solomon
Suzanne
Swallow
Teagre
Thomas and William
Thomas Bonaventure
Thomasine
Toby of Harwich
Trinity
Trinity Bear
Triumph
Unicorn
White Hind

Governors

1581–1592 Sir Edward Osborne (appointed under the first and second charters)
1592–1592 Richard Staper
1600–1600 Sir Thomas Smith (appointed under the third charter)

... (Additional governors omitted for brevity) ... The British government assumed control of the company in 1821 and maintained oversight until its closure in 1825.

The ambassadors at Constantinople

1582–1588 William Harborne
1588–1597 Edward Barton
1597–1607 Henry Lello
1606–1611 Sir Thomas Glover
1611–1620 Sir Paul Pindar
1619–1621 Sir John Eyre (also known as Ayres)
1621–1622 John Chapman (agent)
1621–1628 Sir Thomas Roe
1627–1638 Sir Peter Wyche
1633–1647 Sir Sackville Crowe
1647–1661 Sir Thomas Bendysh
Richard Salway (appointment never realized)
Richard Lawrence (served only as agent)
1668–1672 Heneage Finch, Earl of Winchilsea
1668–1672 Sir Daniel Harvey
1672–1681 Sir John Finch
1680–1687 James, Lord Chandos
1684–1686 Sir William Soames
1686–1691 Sir William Trumbull
1690–1691 Sir William Hussey
Thomas Coke (served exclusively as chargé d'affaires)
1691–1692 William Harbord
1692–1702 William, Lord Paget
Sir James Rushout, 1st Baronet (appointed but did not serve)
George Berkeley, 1st Earl of Berkeley (appointed but did not serve)
1700–1717 Sir Robert Sutton
1716–1718 Edward Wortley-Montagu
1717–1730 Abraham Stanyan
1729–1736 George Hay, 8th Earl of Kinnoull
1735–1746 Sir Everard Fawkener
Stanhope Aspinwall (served only as chargé d'affaires)
1746–1762 James Porter
1761–1765 Henry Grenville
William Kinloch (acted solely as chargé d'affaires)
1765–1775 John Murray
Anthony Hayes (served as chargé d'affaires)
1775–1794 Sir Robert Ainslie
1794–1795 Robert Liston
Spencer Smith (chargé d'affaires)
Francis James Jackson (appointment declined)
1799–1803 Thomas Bruce, 7th Earl of Elgin
Alexander Straton (chargé d'affaires)
1803–1804 William Drummond
1804–1807 Charles Arbuthnot
1809–1810 Robert Adair
1810–1812 Stratford Canning Minister Plenipotentiary
1812–1820 Robert Liston
1820–1824 Percy Clinton, 6th Viscount Strangford

At Smyrna

1611–1624 William Markham
1624–1630 William Salter
1630–1633 Lawrence Green
1633–1634 James Higgins
1634–1635 John Freeman
1635–1638 Edward Bernard
1638–1643 Edward Stringer
1644–1649 John Wilde
1649–1657 Spencer Bretton
1659–1660 William Prideaux
1660–1661 Richard Baker
1661–1667 William Cave
1667–1677 Paul Rycaut
1677–1703 William Raye
1703–1716 William Sherrard
1716–1722 John Cooke
1722–1723 George Boddington
1733–1741 Francis Williams
1741–1742 Thomas Carleton
1742–1762 Samuel Crawley
1762–1794 Anthony Hayes
1794–1825 Francis Werry

Aleppo Representatives

1580–1586 William Barrett
1586 James Toverson, John Eldred
1592–1594 Michael Locke
1596 George Dorrington (acting vice-consul), Thomas Sandys, Ralph Fitch, Richard Colthurst
Position left unfilled
1606 James Hawarde (acting vice-consul)
1606–1610 Sir Paul Pindar
1610–1616 Bartholomew Haggatt
1616–1621 Libby Chapman
1621–1627 Edward Kirkham
1627–1630 Thomas Potton
1630–1638 John Wandesford
1638–1649 Edward Bernard
1649–1659 Henry Riley
1659–1672 Benjamin Lannoy
1672–1686 Gamaliel Nightingale
1686–1689 Thomas Metcalfe
1689–1701 Henry Hastings
1701–1706 George Brandon
1707–1715 William Pilkington
1716–1726 John Purnell
1727–1740 Nevil Coke
1740–1745 Nathaniel Micklethwait
1745–1751 Arthur Pollard
1751–1758 Alexander Drummond
1758 Francis Browne
1759–1766 William Kinloch
1766–1768 Henry Preston
1768–1770 William Clark
1770–1772 Charles Smith (pro-consul)
1770–1783 John Abbott
1783–1784 David Hays (pro-consul)
1784–1786 Charles Smith (pro-consul)
1786–1791 Michael de Vezin (pro-consul)
Factory operations suspended from 1791 to 1803
1803–1825 John Barker

Shipping Data: Turkey and the Levant

Year	Ships Outbound	Ships Inbound
1800	6	14
1801	10	7
1802	18	19
1803	9	27
1804	1	13
1805	6	16
1806	1	18
1814	18	44
1815	13	44
1816	18	26
1817	21	45
1818	29	87
1819	40	53
1820	50	90
1821	31	53
1822	34	53
1823	40	87
1824	122	138
1825	95	167
1826	79	109
1827	61	101
1828	45	93
1829	74	73
1830	95	95

Period of Decline

The company's membership decreased during the early eighteenth century as it increasingly came to be seen as an obsolete monopoly that was a financial burden on Britain. The passage of the Levant Trade Act of 1753 (26 Geo. 2. c. 18) allowed open competition in its trading activities, although the company persisted until formally disbanded by the Dissolution of Levant Company Act of 1825 (6 Geo. 4. c. 33).

The name "turkey" for the bird originates from the merchants trading with Turkey linked to this company.

Additionally, the Levant Company played a significant role as a purchaser of Turkish opium, which American traders—including members of notable families such as the Astors—acquired before 1811 to distribute in China beginning in 1806, thereby connecting the company to early global opium commerce networks.

Heraldry

The coat of arms of the Levant Company displayed: Azure, on a sea in base proper, a ship with three masts in full sail or, flanked by two rocks of the same tincture, all sails, pennants, and ensigns argent, each bearing a cross gules, a chief engrailed of the third, with a seahorse proper at the base. Its crest consisted of: On a wreath of the colours, a demi seahorse saliant. The supporters were represented by two seahorses. The Latin motto adopted was: Deo reip et amicis.