THE EARLY SPICE TRADE

The arrival of Europeans marked a new chapter in Banda’s history, and a transition from autonomous self-government to conquest and colonisation. Seeking a monopoly on the islands’ lucrative spice trade, Dutch mercantilists seized control of Banda, beginning a process of colonisation across Indonesia that would take nearly four centuries to complete.

During their colonisation of the Banda Islands, the Dutch Empire emerged as a global power, leveraging the riches of their spice monopoly to expand their territories and increase the wealth of the Netherlands at home. So much money was made from the spice trade that it changed the way we all do business, and led to the establishment of the world’s first stock market in Amsterdam. Though the importance of Banda to the Empire would gradually diminish over time, the colonial legacy is felt everywhere in Banda today.

So valuable were Bandanese spices that individual voyages were unable to meet the market demand, and a new way of doing business was born. Public trading of shares in the VOC (Dutch East India Company) meant that the company could spread its risks and send continuous expeditions, leading to the world’s first stock exchange. In 1667 the Dutch assumed full control of the Banda Islands through the Treaty of Breda, through which the British relinquished their claim to Rhun Island in exchange for the Dutch Holdings of New Amsterdam which would one day become home to the world’s premier stock exchange at Wall Street.

This archive explores how the process of colonisation reshaped the destiny of Banda and the entire world.

Note: The Rumah Budaya Banda collection combines objects and artefacts from a range of sources, many of which have been selected to represent historical change in Banda. They may not directly originate from the time periods associated with the archive. We are working to expand the collection and confirm historical data of individual objects. If you have additional information or inputs regarding any of the objects and artefacts in the collection, we invite you to join our open-source curatorial initiative using the input form at the bottom of this page and contribute to Rumah Budaya Banda’s ongoing revitalisation.

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