Actually, I think the ORIGINAL story started before the USA was invented. The pompous captain was Sir Cloudsley Shovell and the 'lighthouse keeper' was an able seaman. Both unfortunately died.
You've been given the Silva vid clip, but worth bearing in mind they based it on inernet text clips over 10 years old, and prior to internet the same wonderful text was being sent on forums and email prior to that, in several different combinations of nationalities
It was with Aldiss lamps in morse, it was in semaphore, it was loud hailers, it was......very, very old and apocryphal.
Still funny though, and the Silva version is good.
No, they spoke face to face- one was hung and the other drowned. So unfortunately the little guy wasn't around to enjoy being proved right, though I do have a vague memory of something similar with the Roman fleet at Ravenna (from a previous life) ? Maybe it's the same two guys coming back again and again through the centuries!!