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During the War of 1812, the British attacked Essex, Connecticut, and burned the ships in the harbor, due to the construction there of a number of privateers.
This was the greatest financial loss of the entire War of 1812 suffered by the Americans.
However, the private fleet of James De Wolf, which sailed under the flag of the American government in 1812, was most likely a key factor in the naval campaign of the war.
De Wolf's ship, the Yankee, was possibly the most financially successful ship of the war.
Privateers proved to be far more successful that their US Navy counterparts, claiming three quarters of the 1600 British merchant ships taken during the war ( although a third of these were recaptured prior to making landfall ).
Whilst apparently successful the privateer campaign was ultimately a failure.
British convoy systems honed during the Napoleonic Wars limited losses to singleton ships, and the effective blockade of American and continental ports prevented captured ships being taken in for sale.
This ultimately led to orders forbidding US privateers from attempting to bring their prizes in to port, with captured ships instead having to be burnt.
Over 200 American privateer ships were captured by the Royal Navy, many of which were turned on their former owners and used by the British blockading forces.

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