This might be the title you are thinking of - http://www.imdb.com/title/tt0190189/
Little Sir Nicholas (1990).
I have memories of watching something when I was little and cannot for the life of me find out what it was - it was a period kids drama I think and I would have watched it in the late 80's/early 90's ? There were two children - siblings I think - and they were separated in a ship-wreck - poss with each thinking the other was dead. I remember a scene where they were offered a selection of toys - and one picked a toy ship - and another child got very upset as they wanted it and knew that child had been in a wreck so thought they wouldn't want it - I think the kids were reunited in the end...and think one ended up being raised in France - any ideas??
This might be the title you are thinking of - http://www.imdb.com/title/tt0190189/
Little Sir Nicholas (1990).