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<i>'''Becoming a privateer appears to be a high risk/high reward gamble. Since privateers were not military ships, who decided if a ship was going to be a privateer during the war? Did the crew have any say in this decision?'''</i>
[[File:James_Madison_(1)James_Madison.jpg|thumbnail|250px|James Madison, President during the War of 1812]]
Privateering was a huge risk for the ship’s owners, the men who put up the several thousand dollar bond for the ship’s good behaviour and the crew who put their lives on the line to take the prizes. Because it was often the only alternative to leaving a ship at anchor for the duration of the war, owners and merchants weighed the possibility of no profit against that of a potential fortune and decided whether or not to request a commission. There were, in fact, two options. A ship owner could obtain a letter of marque but prepare his ship for a regular trading voyage. He might add a few more men and guns in case a prize came along, but the crew would be paid wages and the vessel’s main purpose was trade. On the other hand, he could decide to forego any pretense of trade, take on extra guns and men, and go out and cruise against enemy shipping as a privateer. In that case, the crew signed Articles of Agreement in which they agreed to work for shares of any prizes they might take. Once all the court costs, duties and other fees were paid, the profits were shared equally between the owners (who supplied the ship and guns and outfitted it for the cruise) and the officers and crew (who sailed and fought it).

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