I had a frigate and a caravel, i lost the caravel and didnt have enough gold to buy another one and the king didnt raise taxes and give me a replacement caravel because i still had the frigate. I later sacrificed the frigate and then was given a caravel.
The game needs to distinguish between a cargo ship and a warship to determine if the king needs to give you another caravel.
The game needs to distinguish between a cargo ship and a warship to determine if the king needs to give you another caravel.