h had been sunk by the fire ship, was a great quantity of
gold and silver plate, together with other riches to the value of forty
thousand pieces of eight.[2]

[Footnote 2: The piece of eight was equivalent to about $1.25 of our
money.]

Morgan directed one of his ships to remain near the sunken vessel, drive
away the native boats which prowled around in that vicinity, and try to
recover the treasures. As for himself, the pirate returned to Gibraltar,
where he transferred himself and his sailors to the larger and stronger
ship which he had captured from the Spaniards.

When he was well established in this new ship, he sent word to the
Spanish admiral, who had escaped on shore and who was assisting in the
defense of the castle, that a large ransom must be paid or the town
would be burned to the ground. The admiral flatly refused to pay a
single dollar to Morgan; but the garrison, remembering how successful
Morgan had always been and how fierce was his revenge, concluded to pay
the ransom freely. Accordingly, after some discussion, it was agreed
that the Spaniards should pay twenty thousand pieces of eight and
deliver five hundred beeves on the following day. This was done, and the
pirates salted the flesh of the cattle and stored it away for their
voyage.

Notwithstanding Captain Morgan had promised to deliver the prisoners if
the ransom was paid, he was so much in fear of destruction by shells
from the castle as he was passing out of the lake that he told them he
would release none of them until he was entirely out of range and safe
in the open sea. In the meantime his men had recovered from the sunken
ship fifteen thousand pieces of eight, besides much plate and valuable
goods, such as the hilts of swords, and a great quantity of pieces of
eight that had melted and run together from the heat of the burning
vessel.

After thinking the matter over more fully, Morgan decided that it would
not be safe even yet for him to attempt to pass the castle, and
accordingly he called before him his prisoners and told them that unless
the admiral and the garrison of the castle should promise him free
passage out of the lake, he would hang every prisoner on the yards of
his ship. Accordingly, the prisoners sent a deputation to Don Alonso
beseeching and supplicating him to have pity on the prisoners, who with
their wives and children were still on board the ship with Captain
Morgan, and to give his word of honor to permit the buc