Amos - For some unaccountable reason, Her Majesty had a way of ignoring spanish protests - to the extent of giving the Dutch Privateers (The Sea Beggers) sanctuary, and supplies in the Downs and Dover.

With the Spanish Government of Phillip being militarily occupied with the revolt in the Low Countries, and the pressure from the Turks and Corsairs - minor (by spanish standards) raids in the Carribean were a nusciance only.

I can not prove it off hand but I would lay a small bet that losses of specie in transit from the Main to Cadiz were higher from "Perils of the Sea" than the actions of Drake etc.

Kat, you may be right, if so for "Dagoe's" read "Don" !!

I would be interested in your source - could it be anything to to with the Spanish Settlements in California - Sorry Drake's "New Albion" ??

Gareth