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Updated: May 20, 2025
Insurance rose to 23 per cent; and this, with actual losses by capture, and by cessation of American trade, with consequent fall of prices, was estimated to give a total loss of £66 upon every £100 earned before the war. Yet, with all this, the outward West India fleet in 1778 waited six weeks, April 10th-May 26th, for convoy.
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