A.D. 1776 
«1850. 
oho sus- 
ained 
heavy 
08568. 
but no 
permanent 
damage 
372 LAISSEZ FAIRE 
were to become so prominent in the great struggle with 
Napoleon, were definitely raised. Hence the indirect effect 
of the break with the colonies was to bring about a serious 
dislocation of trade, and to expose the English mercantile 
marine first to the attacks of American privateers, and sub- 
sequently to those of other countries. To adequately protect 
English vessels, against the cruisers of so many different 
nations, was practically impossible ; it appears that the fright- 
ful increase of risk, attending all trading operations, was the 
principal evil of this period, rather than the mere interruption 
of any one branch of commerce. Some of the rates for 
insurance for ships appear to have increased from two guineas 
bo £21 per cent.. This was the period in which the practice 
of marine insurance came to be regularly adopted by ship- 
owners; and commercial relations were strained in many 
directions. But after all, warfare on the high seas was a 
game in which England was well prepared to take a part, and 
she played it with much success. The American privateers 
did less damage than had been anticipated”; the tonnage of 
British-built shipping increased during the years of the wars, 
while in a couple of years the Americans lost something like 
900 vessels; and the Atlantic coast was exposed to ruthless 
raids, such as those which destroyed Newhaven in Connecticut 
and Suffolk in Virginia®, Nor were the tables turned after the 
European Powers threw themselves into the struggle. “The 
combined fleets of France and Spain,” as Washington wrote in 
1780, “last year were greatly superior to those of the enemy. 
Nevertheless the enemy sustained no material damage, and ab 
the close of the campaign gave a very important blow to our 
allies. This campaign the difference between the fleets will be 
inconsiderable.... What are we to expect will be the case if there 
should be another campaign? In all probability the advan- 
tage will be on the side of the English, and then what would 
become of America? We ought not to deceive ourselves. The 
1 Leone Levi, History, 45. 
2 In 1818, “by sound seamanship, by good fortune, and by the neglect of the 
pnemy an important fleet of merchantmen from the East Indies, another from 
Lisbon, and a third from Jamaica all arrived in safety.” Lecky, op. cit. Iv. 94. 
8 Chalmers, Opinions on subjects arising from American Independence. p. 99 
+ Lecky. op. cit. Iv. 94. 116.