In the third line, the words "the ship is anchor'd safe and sound" gives an example of

Alliteration

Alliteration refers to the conspicuous repetition of consonant sounds at the beginning of successive or nearby words in a sentence. It can sometimes be called an initial rhyme.

In this case, the repetition of the sound "s" in words that are close to each other (ship, safe, sound) are an example of alliteration.

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