A British Topsail Schooner departing from Havana

Founded in 1514 by Diego Velasquez de Leon, the port of Havana rapidly established itself as the principal base for Spanish exploration in the Caribbean as well as throughout Central and South America. Proclaimed a city in 1592, its important strategic position was further recognised in 1634 when a royal decree of King Philip IV declared it to be the 'Key of the New World and Bulwark of the West Indies'. The object of raids by English, French and Dutch pirates almost from the date of its foundation, these attacks became steadily more frequent after Havana was selected as the port of rendezvous for the annual east-bound treasure fleets during the seventeenth century. Subsequent European wars also had their effect on Havana and squadrons of the Royal Navy blockaded the port several times during the first half of the eighteenth century. Captured by the British after a lengthy siege in the summer of 1762, Havana, along with the rest of Cuba, was ceded back to Spain the following year but even this brief occupation greatly stimulated its economy. The gradual removal of various obstacles to free trade over the ensuing fifty years particularly benefited Havana and by the end of the eighteenth century, it had assumed eighth place amongst the world's foremost commercial centres.