two o'clock
The Spaniards , their ships formed in a semicircle , believing that our defeat was certain , opened a tremendous fire , which every British ship returned with terrible effect to the enemy . In a few minutes the action became general , equalling in fury any which we had ever fought . So well was our artillery plied , that many of the guns in the castles and batteries were ere long silenced , when , leaving a few frigates to keep them in play , the admiral sailed on to the assistance of the gallant Stayner , and now with our united guns we played havoc among the Spaniards . Ship after ship was set on fire , while two proud galleons had already sunk , and by two o'clock of that eventful day not a mast remained above water -- the whole of the Silver fleet was destroyed . No sooner was the work performed than the wind shifted to the south-west , enabling every one of our ships to sail out again , beyond range of the castle guns . Not one was missing , and we had only fifty men killed and a hundred and fifty wounded in this most gallant exploit . Some of the most damaged ships were sent home , while we returned to the coast of Spain , where we found the Spaniards eager to make peace in order to avoid future disasters .