I've often thought this song should/could have been about H.M.S. Hermione, who's captain was so brutal that he caused a mutiny. The final straw being when he reefing the tops'ls he swore he'd flog the last man down on deck. As they rushed down three seamen fell to their deaths, Captain Piggot ordered their bodies to be flung overboard stating that he wouldn't waste a Christian burial on scum like them. That night the crew mutinied, killed Piggot and all his, equally brutal, officers, and handed the bosun to the ship's boys who flayed him alive. They then handed the frigate over to the Spaniards.