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  #341  
Old October 13th, 2014, 05:41 PM
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Originally Posted by HG_B View Post
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.


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  #342  
Old October 13th, 2014, 05:51 PM
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So the deflation from 1914 to 1919 was not due to going off the gold standard.


Hans
It (that deflation) had nada to do with the gold standard in the US. Starting in 1914 the US exports tripled. That coupled with many other countries de facto going off the gold standard in 1913 caused that yo-yo. Nothing unknown that I'm posting. It is standard material in Econ 100 & 200 classes in college.
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  #343  
Old October 14th, 2014, 03:16 AM
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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.

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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.
Edward the First was King of England from 1272 to 1307. That puts Letters of Marque quite earlier.
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  #344  
Old October 14th, 2014, 10:44 AM
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Edward the First was King of England from 1272 to 1307. That puts Letters of Marque quite earlier.
It also makes early Letters of Marque somewhat different from later ones. Not surprising that 500 years would make a difference, of course.


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  #345  
Old October 14th, 2014, 12:30 PM
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Originally Posted by timerover51 View Post
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.
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  #346  
Old October 14th, 2014, 12:39 PM
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Originally Posted by Magnus von Thornwood View Post
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.
Letter of Marque carried by Captain Millin of the American privateer Prince of Neufchatel during the War of 1812.

James Madison, President of the United States of America,

To all who shall see these presents, Greeting:

BE IT KNOWN, That in pursuance of an act of congress, passed on the 26th day of June one thousand eight hundred and twelve, I have Commissioned, and by these presents do commission, the private armed Brig called the Prince Neufchatel of the burden of three hundred & Nineteen tons, or thereabouts, owned by John Ordronaux & Peter E. Trevall of the City & State of New York and Joseph Beylle of Philadelphia in the State of Pennsylvania Mounting eighteen carriage guns, and navigated by one hundred & twenty nine men, hereby authorizing Nicholas Millin captain, and William Stetson lieutenant of the said Brig and the other officers and crew thereof, to subdue, seize, and take any armed or unarmed British vessel, public or private, which shall be found within the jurisdictional limits of the United States, or elsewhere on the high seas, or within the waters of the British dominions, and such captured vessel, with her apparel, guns, and appertenances, and the goods or effects which shall be found on board the same, together with all the british persons and others who shall be found acting on board, to bring within some port of the United States; and also to retake any vessel, goods, and effects of the people of the United States, which may have been captured by any British armed vessel, in order that proceedings may be had concerning such capture or recapture in due form of law, and as to right and justice shall appertain. The said Nicholas Millin is further authorized to detain, seize, and take all vessels and effects, to whomsoever belonging, which shall be liabel thereto according to the law of nations and the rights of the United States as a power at war, and to bring the same within some port of the United States, in order that due proceedings may be had thereon. This commission to continue in force during the pleasure of the president of the United States for the time being.

GIVEN under my hand and seal of the United States of America, at the City of Washington, the twelfth day of December in the year of our Lord, one thousand eight hundred and fourteen and of the independence of the said states the thirty ninth.

BY THE PRESIDENT James Madison
Jas. Monroe, Secretary of State.


Here's a link to more: http://www.constitution.org/mil/lmr/lmr.htm
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Last edited by HG_B; October 14th, 2014 at 12:40 PM.. Reason: add link
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  #347  
Old October 14th, 2014, 02:10 PM
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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.

Paperwork, the bane of military and paramilitary since, well, since paper was invented.

Can't wait until that Sumerian cache of enlistment clay tablets is found.
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  #348  
Old October 14th, 2014, 02:20 PM
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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.
They botched that show apparently. The British Admiralty declared him a pirate BEFORE he he returned from his cruise in the Indian Ocean. It was because of his behavior while privateer in that part of the world. Since he was wanted as a pirate BEFORE any papers, or lack thereof, could have been discovered that reason given holds NO water.
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  #349  
Old October 14th, 2014, 02:25 PM
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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.


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  #350  
Old October 14th, 2014, 02:51 PM
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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

That's possible as he was professing a mistake was made up until he was hung in Newcastle.
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