Piracy saw a brief resurgence between the end of the War of the Spanish Succession in 1713 and around 1720, as many unemployed seafarers took to piracy as a way to make ends meet when a surplus of sailors after the war led to a decline in wages and working conditions. At the same time, one of the terms of the Treaty of Utrecht that ended the war gave to Great Britain's Royal African Company and other British slavers a thirty-year asiento, or contract, to furnish African slaves to the Spanish colonies, providing British merchants and smugglers potential inroads into the traditionally closed Spanish markets in America and leading to an economic revival for the whole region. This revived Caribbean trade provided rich new pickings for a wave of piracy. Also contributing to the increase of Caribbean piracy at this time was Spain's breakup of the English logwood settlement at Campeche and the attractions of a freshly sunken silver fleet off the southern Bahamas in 1715. Fears over the rising levels of crime and piracy, political discontent, concern over crowd behaviour at public punishments, and an increased determination by parliament to suppress piracy, resulted in the Piracy Act of 1717 and of 1721. These established a seven-year penal transportation to North America as a possible punishment for those convicted of lesser felonies, or as a possible sentence that capital punishment might be commuted to by royal pardon.