I would suggest Semmes and the other Confederate commerce raiders greatest effect on the War, was increased costs of maritime insurance for Union merchant ships.
"Never has there occurred so striking an example of the tremendous power of mischief possessed by a single cruiser acting upon this destructive plan as that furnished by the Sumpter and her successor, the Alabama under the command of Semmes, whose untiring activity, restless energy, and fiery...
I would suggest Semmes and the other Confederate commerce raiders greatest effect on the War, was increased costs of maritime insurance for Union merchant ships.
"Never has there occurred so striking an example of the tremendous power of mischief possessed by a single cruiser acting upon this destructive plan as that furnished by the Sumpter and her successor, the Alabama under the command of Semmes, whose untiring activity, restless energy, and fiery...
I would suggest Semmes and the other Confederate commerce raiders greatest effect on the War, was increased costs of maritime insurance for Union merchant ships.
"Never has there occurred so striking an example of the tremendous power of mischief possessed by a single cruiser acting upon this destructive plan as that furnished by the Sumpter and her successor, the Alabama under the command of Semmes, whose untiring activity, restless energy, and fiery...
Of that $15,500,000 a special court dispersed $9,416,120.25. The leftover soon grew to nearly $10,000,000 from the interest on bonds. From this fund shippers were refunded for insurance. "Direct losses were indeed paid in full and insurance charges prorated".Those figures and the quote are from a book titled Raphael Semmes and the Alabama by Spencer C. Tucker.
The Alabama's own officers estimated the value of vessels they burned was $4,613, 914 and the value of vessels bonded was $562,250. (Source - 'Gray Raiders of the Sea' by Chester Hearn, at page 316). These estimates related to the Alabama's activities alone and exclude the damages inflicted by other Confederate commerce raiders, like the Florida and Shenandoah.
A postwar appointed International Tribunal in Geneva awarded the U.S. the total sum of $15,500,000 for damages caused primarily by the Alabama, Florida and Shenandoah (as well as by several smaller tender vessels). A claims court was subsequently established in the U.S. to deal with shippers' claims for losses due to the commerce raiders' activities. (Apparently, it took 25 years from the time the damage occurred, for the total sum awarded by the Geneva Tribunal to be eventually distributed).
From what I've read the biggest impact the Raiders had on shipping was registering ships under foreign flags. .On paper the U.S. lost alot of ships.But they weren't really lost in sinking or burning just re-registered.The actual loss was something like 5% of its ships.During the war 700 ships were transferred the British flag.
Arguably the Confederacy’s maritime efforts rank among its greatest wartime successes. Starting literally from scratch, the Confederacy immediately mustered a small but effective privateer fleet that not only met with some success, but forced the early resolution of the Confederacy’s status as a...