they complicate an understanding of the text as mere 'economic fact, and suggest
that a more qualitative approach may be appropriate.
In the entry for the loss of 1752 on the Reekening van Avance account, the
referenced ledger account provides details on the losses of 1752. This is account
number 104, the profit and loss ledger account of the year 1752. This part of the
bookkeeping gives an idea of what the main components of the MCC organiza
tion were in terms of expenses and revenue. First, we find that the ship voyages
and the associated expenses form a substantial part of the losses of 1752. For ex
ample, according to the profit and loss ledger account, the frigate Jonge Wilhem
was lost in 1752, resulting in a 12210 loss.46
Other large losses are sustained by the ship, the Princes van Oranje. Although
the Princes van Oranje was not lost, it seems to have been decommissioned in
1752.47 Reinders Folmer-van Prooijen confirms that the frigate was dismantled
geslooptupon return to the Dutch Republic.48 In addition, she explains that the
Princes van Oranje and the Jonge Wilhem both departed to conduct commodity
trade in the Spanish Caribbean in 1749 and that the MCC had received worrying
messages that the ships were being chased away by the Spanish state. Only the
Princes van Oranje returned to Middelburg. Apart from that, the destined mar
kets had already been saturated by Spanish goods, so the trade by these MCC
ships was unfruitful.49 These unpredictable events naturally led to spikes in losses
in specific years, especially if the company did not use an accounting method to
spread these losses over a several years.
This raises the question whether the MCC employed a depreciation (afschrij
ving) method and how the value of the ships was determined when they were lost
or decommissioned. These accounting choices or methods would have a substan
tial effect on the calculation of profit and loss, at least on an annual basis. Littleton
explains that depreciation only became a well-developed part of bookkeeping in
19th century railroad companies. Earlier trading companies were less concerned
with the depreciation of their ships and forts, and because of the smaller scale, the
precise calculation of net profit was of lesser importance, according to Littleton.50
i8o Accounting in the Dutch Transatlantic Slave Trade
46 ZA, MCC, 1720-1889, inv. nr. 1695. 1689-1709 Grootboek, 1720-1889. 21 delen, 1695. 'La G,
1749-1754 (NL-MdbZA_20_1695_0129).
47 ZA, MCC, 1720-1889, inv. nr. 1695. 1689-1709 Grootboek, 1720-1889. 21 delen, 1695. 'La G,
1749-1754 (NL-MdbZA_20_1695_0129).
48 Reinders Folmer-Van Prooijen, Van goederenhandel naar slavenhandel, 188-189.
49 Reinders Folmer-Van Prooijen, Van goederenhandel naar slavenhandel, 94.
50 Littleton, Accounting Evolution to 1900, 240-241.
