Article: In 1797, Patrick Colquhoun was able to persuade the West Indies merchants who operated at the Pool of London on the River Thames, to establish a police force at the docks to prevent rampant theft that was causing annual estimated losses of £500,000 worth of cargo. The idea of a police, as it then existed in France, was considered as a potentially undesirable foreign import. In building the case for the police in the face of England's firm anti-police sentiment, Colquhoun framed the political rationale on economic indicators to show that a police dedicated to crime prevention was "perfectly congenial to the principle of the British constitution." Moreover, he went so far as to praise the French system, which had reached "the greatest degree of perfection" in his estimation.

Now answer this question: How much cargo had been being stolen from West Indies merchants in London each year?
£500,000