CHAPTER I.

THE HISTORY OF SHIPS AND SHIPPING INTERESTS (_continued_). PAGE Extent of the Subject—The First American Colony—Hostilities with 1 the Indians—117 Settlers Missing—Raleigh’s Search for El Dorado—Little or no Gold discovered—2,000 Spaniards engage in another Search—Disastrous Results—Dutch Rivalry with the English—Establishment of two American Trading Companies—Of the East India Company—Their first Great Ship—Enormous Profits of the Venture—A Digression—Officers of the Company in Modern Times—Their Grand Perquisites—Another Naval Hero—Monson a Captain at Eighteen—His appreciation of Stratagem—An Eleven Hours’ hand-to-hand Contest—Out of Water at Sea—Monson two years a Galley Slave—Treachery of the Earl of Cumberland—The Cadiz Expedition—Cutting out a Treasure Ship—Prize worth £200,000—James I. and his Great Ship—Monson as Guardian of the Narrow Seas—After the British Pirates—One of their Haunts—A Novel Scheme—Monson as a Pirate himself—Meeting of the sham and real Pirates—Capture of a Number—Frightened into Penitence—Another caught by a _ruse_