So the deflation from 1914 to 1919 was not due to going off the gold standard.Yep. The Fed reserve bank appeared in 1913. Here is what happened to USD inflation:
Hans
So the deflation from 1914 to 1919 was not due to going off the gold standard.Yep. The Fed reserve bank appeared in 1913. Here is what happened to USD inflation:
So the deflation from 1914 to 1919 was not due to going off the gold standard.
Hans
But apart from sheer plundering, though not always distinguishable from it, was the system of legalised privateering arising out of the issue of Letters of Marque. By the licence thus obtained from the Crown, a trader who had been the victim of foreign aggression, or who sought the means of collecting a difficult debt, was given the right of reprisals on the goods of the community or country to which the offender belonged. The first recorded instance of such a grant occurs in the reign of Edward I, though it cannot safely be assumed that none was issued earlier. It was made in favour of the English owner of a ship which, while bringing fruit from Malaga, was piratically seized off the coast of Portugal and carried as a prize into Lisbon. In this case, the licence to seize the goods of the Portuguese to the extent of the loss sustained was limited to five years. The disadvantages of such a rough-and-ready method of adjusting differences need no great emphasis. In the first place, experience showed that licence for reprisals tended to degenerate into licence of a more general kind ; and, secondly, this method of making innocent Peter pay for guilty Paul often acted as a serious deterrent upon trading.
It also makes early Letters of Marque somewhat different from later ones. Not surprising that 500 years would make a difference, of course.Edward the First was King of England from 1272 to 1307. That puts Letters of Marque quite earlier.
Hell yeah, Letters of Marque and Reprisal! So, Timerover51, do you perchance have any legible versions? I ask because most of the ones I have found online are just photos and difficult to decipher. Either way, hoping you spead a bit more time and effort on this topic as it is near and dear to my heart. But it is your thread so do what thou will.The following account of a very early Letter of Marque, come from the following source. THE MERCHANT NAVY Vol. I, by Archibald Hurd, part of the UK History of the Great War series, prepared by the Historical Section of the Committee for Imperial Defence.
Edward the First was King of England from 1272 to 1307. That puts Letters of Marque quite earlier.
Hell yeah, Letters of Marque and Reprisal! So, Timerover51, do you perchance have any legible versions? I ask because most of the ones I have found online are just photos and difficult to decipher. Either way, hoping you spead a bit more time and effort on this topic as it is near and dear to my heart. But it is your thread so do what thou will.
Just caught a Myth Hunters episode about Captain Kidd and his treasure.
Found it interesting that what got him hung was the fact that he didn't have a copy of the ownership/shipping papers of a French ship he seized.
I read, not so long ago, but long enough that I can't remember where, that Kidd made the mistake of giving his letter(s) of marque to a Crown official who then "lost" them.
Hans
Hell yeah, Letters of Marque and Reprisal! So, Timerover51, do you perchance have any legible versions? I ask because most of the ones I have found online are just photos and difficult to decipher. Either way, hoping you spead a bit more time and effort on this topic as it is near and dear to my heart. But it is your thread so do what thou will.
I read, not so long ago, but long enough that I can't remember where, that Kidd made the mistake of giving his letter(s) of marque to a Crown official who then "lost" them.
Hans
Hell yeah, Letters of Marque and Reprisal! So, Timerover51, do you perchance have any legible versions? I ask because most of the ones I have found online are just photos and difficult to decipher. Either way, hoping you spead a bit more time and effort on this topic as it is near and dear to my heart. But it is your thread so do what thou will.
FORM OF BOND.
Know all men by these presents, that we _______(1)_________ are bound to the Confederate States of America in the full sum of _____(2)______ thousand dollars, to the payment whereof well and truly to be made, we bind ourselves, our heirs, executors, and administrators, jointly and severally by these presents.
The condition of this obligation is such that whereas application has been made to the said Confederate States of America for the grant of a commission or letter of marque, and general reprisals, authorizing the ________(3)_____ or vessel called the ______________________ to act as a private armed vessel in the service of the Confederate States, on the high seas, against the United States of America, its ships and vessels, and those of its citizens, during the pendency of the war now existing between the said Confederate States and the said United States.
(1) This blank must be filled with the name of the commander for the time being, and the owner or owners, and at least two responsible sureties not interested in the vessel.
(2) This blank must be filled with a "five," if the vessel be provided only with 150 men or a less number; if with more than that number, the blank must be filled with a "ten."
(3) This blank must be filled with the character of the vessel, "ship”, "brig”, "schooner”, “steamer", etc.
Apparently true story, although they were French passes, not letters of marque. At least according to the Wiki - they're usually pretty good, but they aren't 100%. Anyway, story is he took an Armenian ship that was commanded by an Englishman. The ship was traveling under French passes that hypothetically gave it the protection of the French government. He wanted to let the ship go when he found it had an English captain, but the prize was rich and the crew argued that having French passes brought the target under the purview of their letter of marque. He knew it'd be trouble but couldn't say no to the crew without triggering a mutiny, so kept the passes as proof. As expected, the Brit government branded him pirate for the seizure, and when they eventually caught him and brought him to trial, the passes went mysteriously missing. Passes were found misfiled amidst government papers in the early 20th century, so that part is true. Unfortunately, the charges also included murder of one of his own crewman, of which he was unquestionably guilty, so there was no escaping the noose even if he'd had the papers.
http://en.wikipedia.org/wiki/William_Kidd
[m;]I've copied Timerover's post with the CSA Letter of Marque into the reference area.[/m;]
It's an excellent exemplar.
Both our 4.7-inch gun, model 1906, with which our troops have been equipped for a long time and which throws a projectile weighing 45 pounds a distance of about 6 miles, and the French 75-millimeter (2.95-inch) gum, successfully used by the French since 1897, were designed to be drawn by horses, and the guns are best used when drawn by teams of 6 or 8 horses. As the horse has a sustained pulling power of only 650 pounds, it is obvious that the weight to be drawn by the team of 6 horses must not be more than 3,900 pounds. So there is every incentive for making mobile artillery of this kind as light as possible, consistent with the strength required for the work to be done. Thus the pulling power of the horse coupled with his speed has been the limiting factor in the design and weight of mobile field artUlery.