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Outfitting The Early American PrivateersPrivateering In The Early US: What It Was, And What It Cost
Privateering was a vital part of the United States' early sea power, as well as an investment. Here is a look at its cost for investors.
Privateering is a form of naval warfare undertaken by privately owned ships. Thomas Jefferson articulated its importance (in both in the American Revolution and the War of 1812) when he declared in 1812: “…every possible encouragement should be given to privateering in time of war with a commercial nation…our national ships are too few in number…to retaliate the acts of the enemy…by licensing private armed vessels, the whole naval force of the nation is truly brought to bear on the foe.” The young nation’s maritime interests enthusiastically responded to the privateering opportunities afforded by war. During the American Revolution, American maritime principles in favor of secession sent over 800 privateers to sea in search of prizes. During the War of 1812, over 500 American vessels were commissioned as privateers. Privateering 101Privateering had its origins around the 12th century. It began as a means by which a citizen of one country who had been robbed or swindled by a citizen of another country could pursue restitution. Issued a Privateering Commission, or “hunting permit,” as it were, by his government, the offended party would arm one of his own ships and put to sea in pursuit of merchant ships belonging to the perpetrator’s nation. If he found and subdued such a ship, he could then sell the captured vessel and cargo. Both he and the government then pocketed the profits. Over time this system evolved from one of private restitution, conducted regardless of whether or not the nations concerned were at peace or war, into an instrument strictly reserved for international conflict. By the 19th Century, Privateer’s Commissions were only issued to augment warring public navies. Cost of Doing Business: Initial InvestmentBoth the American Revolution and the War of 1812 saw an imbalance in public naval power between American and British forces, with Britain moving early within each conflict to strangle American commerce by naval blockade. Strangled commerce,however, lit a fire underneath efforts to build and outfit privateers. Prominent continental sea ports such as Baltimore, New York, and Boston saw a quickening in their privateer fleets, because the privateers—small, fast, heavily armed and manned cruisers—could simply maneuver around the blockades. One contemporary writer of the time noted: “[the privateers]…go where they please; they chase and come up with everything they see, and run away at pleasure.” The privateers were well motivated to chase everything they saw. Privateering required significant investment. The local government required a posted bond, to ensure the privateer did not simply turn pirate and attack commerce indiscriminately. These “Surety Bonds” ranged from $5000 to $10,000, depending on the size of the ship. Then there was the cost of the vessel. In 1812 the total cost of building, outfitting, arming and manning a 200 ton schooner—a typical privateering rig—was $40,000. For an equivalent construction and outfit in today’s dollars, consider the topsail schooner Lynx. Built as an exact replica of an 1812 privateer, Lynx was launched in 2001—at a cost of $2.8 million dollars. Ante UpIn light of such costs, a 19th century privateer venture required a number of investors. Each contributed anywhere from $1000 to $4000 dollars, as dictated by the size of the vessel. Percentage of investment reflected degree of ownership, and was measured in shares. Maritime principles were typical investors, but records show ownership by a range of professions. Examples include sea captains, shipbuilders, manufacturers, merchants, grocers, bakers, blacksmiths, physicians, and in the case of at least one European interest—a bishop. American privateering ventures were quick to form, and quick to receive their commissions. In Baltimore, privateers typically had do wait no more than a few day for their paperwork. Other cities were equally efficient. In the War of 1812, for example, the cities of Salem, Baltimore, and New York had operating privateer fleets of 40, 40, and 50 vessels, respectively, within four months of hostilities. This efficacy at fleet building and commissioning is hardly surprising. The essence of the privateer's motivation was a blend of patriotism and "decent, civilized greed" —and why not? The sooner they put to sea in pursuit of prizes, the sooner they could pay off their debts and make a profit. It was the privateer’s version, at least, of the American Dream ReferencesSechrest, Larry J. 2002. Privateering and National Defense: Naval Warfare for Private Profit. The Independent Institute. (Accessed July 28, 2008).
The copyright of the article Outfitting The Early American Privateers in American History is owned by John Pohl. Permission to republish Outfitting The Early American Privateers in print or online must be granted by the author in writing.
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