19 Reading 34-1 of the ships might be lost to storm or human agency. During times of war, losses were higher. 25 There was also piracy and, not always very different, privateering. Both were gradually brought under control by the Royal Navy. In the early days, the price fetched by a slave in the West Indies was as much as 700–800% of the cost in West Africa (a buying price of £3 and a selling price of £25), but losses en route were very much higher, and the captains less skilled, the ships less suitable, the piracy worse and so forth. The trade became a vast industry, employing as many as several hundred British ships at any one time, and more of other nations. The price of slaves in West Africa rose as they had to be captured and marched from farther and farther inland, and so the pro f t margin was reduced to, say, the difference between £20 and £30, in other words a markup of 50%. Loss of life en route dropped to a very creditable 5–10%. The mature triangular trade was like any other trade, and the pro
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This note was uploaded on 11/18/2011 for the course HIST 302 taught by Professor Jensic during the Summer '10 term at Purdue University-West Lafayette.