POLITICAL AND COMMERCIAL 41 



teen per cent; from Calcutta home, eight 

 per cent ; from^ Europe to the United 

 States, if not violating orders in council, 

 nine or ten per cent, or, insurance against 

 French alone, four per cent. Stephens states 

 in "War in Disguise" that English under- 

 writers were willing to insure neutrals 

 against condemnation for breach of the 

 neutrality laws, for a moderate premium. 

 At the time of the passage of the Em- 

 bargo Act, many merchants had, or claimed 

 to have, large amounts of goods abroad, 

 which, they argued, it was only fair they 

 should be allowed to bring to this country. 

 Congress accordingly passed a supplement- 

 ary act allowing, by especial permission 

 of the President, vessels to go abroad in 

 ballast to bring back such property. Some 



Freight and insurance may be reckoned in time of 

 peace as 22^ per cent. In time of war, 55 per cent. 

 American State Papers, vol. xiv, p. 22. 



In 1810 Captain Lamson paid 20 per cent for insurance 

 on his adventure in the ship "Wells" on a voyage to St. 

 Sebastian. Diary of Z. G. Lamson. 



