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Residents of the Cayman Islands enjoy a tax-free existence; local legend has it that the reason for the absence of taxation is related directly to the Wreck of the Ten Sail. According to the legend, a member of the passenger list for the 10 vessels included a royal prince, one of the sons of Britain’s King George III. The legend further states that when the King was apprised of the bravery on the part of the Caymanians in saving the crews and passengers of the foundering ships, he decided to repay their bravery. The reward became a decree that the people of the Cayman Islands would thereafter be free from war conscription and taxes. There is, however, no documented evidence that the decree was ever issued or that there was a member of the Royal Family on board one of the ships.
Memorial
Two of the ten memorial stones embedded into ironshore cliff overlooking the Ten Sail wreck site
A picture of the Wreck of the Ten Sails memorial taken from the water.
*Citation and reference:
The Maritime Heritage of the Cayman Islands, pg. 156; Roger C. Smith, 2000 – University Press of Florida
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