History of merchant shipping and ancient commerce, Volume 2 (of 4)Lindsay, W. S. (William Schaw)
History
History of merchant shipping and ancient commerce, Volume 2 (of 4)
Lindsay, W. S. (William Schaw)
Commerce -- History; Shipping -- History; Steam navigation -- History
Such a disaster upon the element where England claimed supremacy
was keenly felt, not merely by those persons who were interested in
maritime affairs, but by the entire nation, while the direct loss
sustained by the English was estimated by the French at one million
sterling.[195] The Turkey Company complained that, the Admiralty
had neglected its duty; that spies in the pay of the French monarch
were allowed facilities for ascertaining the strength and movements
of the English fleets, and the destination of any ships worthy of
capture. Numerous complaints were also made in Parliament, but, in
the sequel, nothing was done to satisfy the nation or to compensate
the parties directly interested for the losses they had sustained.
The attitude, however, taken soon afterwards by the English fleet in
the Mediterranean under the command of Admiral Russell,[196] and the
raising of the siege of Barcelona, with the undisputed command which
she recovered over the Narrow Seas, restored the prestige of England,
and forced the French to keep themselves cooped up in their harbours.
But the war had proved disastrous to her commerce and her shipping;
the clearances at its close, in 1696, having fallen to 91,767 tons,
showing a decrease of no less than 98,766 tons in eight years, while
the value of her exports during that period had declined to the extent
of 1,356,567_l._[197]
[Sidenote: Peace of Ryswick, 1697.]
The Treaty of Peace of Ryswick, concluded in 1697, brought with it
great prosperity, the clearances outwards of British ships averaging in
the following three years 393,703 tons annually, while the gross value
of produce exported on the average in each of the same years reached
6,709,881, or three times more than it had been in 1696.
At this period the government paid for the hire of transports from the
merchant service 716,220_l._ per annum, on an average of ten years.[198]
[Sidenote: Trade of the colonies.]
[Sidenote: African trade.]
Public-domain text, read in full here on John Shaqi.
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