On December 23rd, 1684, they sailed for the Bay of Panama, and nine days later, whilst proceeding from Tomaco towards Gallo, one of their canoes captured a pacquet-boat sailing from Panama to Lima. The Spaniards buoyed the bag of letters and threw it overboard, but it was picked up by the buccaneers, who gathered from the despatches that the President of Panama had sent the mail-boat they had seized to hasten the sailing of the Plate Fleet from Lima. Dampier says that the privateersmen “were very joyful of this news,” which is intelligible enough when we consider that the King of Spain's treasure alone on board this fleet was commonly valued at twenty-four millions of dollars, whilst the worth of the galleons was still further increased by their carrying a vast amount in what was termed merchants' money, besides rich commodities of all sorts. It was at once settled that the buccaneers should intercept this fleet. They were in number now two vessels and three barks, and on February 14th, 1685, having finished the business of careening, cleaning, and watering their craft, they stood away for the Bay of Panama. Whilst they lay off the Island of Tobago they were nearly destroyed by a singular stratagem. A man feigning to be a merchant came to them from Panama. He professed to act as by stealth, in which the buccaneers found no cause for suspicion, for it was common enough for Spanish merchants to traffic privately with them, notwithstanding the prohibition of the governors. It was arranged that this merchant should fill his vessel with goods, and bring her by night to the English, who were to shift their berth to receive her. He came, but with a fire-ship instead of a cargo-boat, and approaching the English close, hailed them with the watchword that had been settled upon. The privateers growing suspicious, ordered the vessel to bring to, and on her not doing so, fired into her. Her crew instantly jumped into their boats, after firing the ship, which blew up and burnt close alongside of the privateersmen, “so that,” says Dampier, “we were forced to cut our cables in all haste, and scamper away as well as we could.” Swan was also imperilled by another Spanish device. His ship lay about a mile distant, with a canoe made fast to his anchor-buoy. Just as the fire-ship blew up, Swan noticed something floating on the water close aboard of him. He peered, and discerned a man upon it softly paddling the contrivance towards his vessel. Probably the fellow suspected he was discovered, for he suddenly dived and disappeared.