Factory (trading Post)
Factory (from Latin facere, meaning "to do"; German "Faktorei", Portuguese "Feitoria", Dutch "Factorij") was the English term for the trading posts system originally established by Europeans in foreign territories, first within different states of medieval Europe, and later in their colonial possessions. Factories served simultaneously as market, warehouse, customs, defense and support to the navigation or exploration, headquarters or de facto government of local communities, with the head of the factory being called a factor. This system was adopted by Americans to exchange goods with local non western societies. Examples in America include those in Native American Indian territory, created for the purpose of enhancing Indian trade with European colonists and, later, the United States.
Read more about Factory (trading Post): European Medieval Factories, Portuguese Feitorias (c.1445), Dutch Factorij and Other European Factories (1600s), North American Factories (1697 To 1822)
Famous quotes containing the word factory:
“The man who builds a factory builds a temple, that the man who works there worships there, and to each is due, not scorn and blame, but reverence and praise.”
—Calvin Coolidge (1872–1933)