bloggleration

It was common for ships returning from India and China to 'hover' off shore and sell untaxed goods such as china, silks and cottons. The most celebrated case, being in 1763, when three East Indiamen lying in Falmouth harbour, reputedly sold £20,000 of goods to the local inhabitants in this way.

Source: Smuggling in Cornwall. http://www.connexions.co.uk/culture/smuggler.htm

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