PREFACE. EVERY workman should know his own trade well. Having been for fifty years a student of ships and navigation, I have felt that it was needful to know the causes that have contributed, first, to the upbuilding, second, to the decline, and third, to the ruin of our shipping interest in the foreign trade. In pursuit of this information time and patience have been well spent, since there was no other way out of darkness into light. The necessity for a work on American Marine has long been felt by its friends. While there have been a few pamphlets and an essay or two published, books of the kind requisite have not been produced. This may have been because shipbuilding, navigation, and foreign trade form so broad a field that few acquire the practical knowledge, or can command the time needful for their composition. Moreover, a writer on the subject of the present work can find so little in libraries, and must look for so many facts outside of books, that his task is one mainly of investigation and original thought. It is only by a rare course of business experience and a fortunate succession of circumstances that the author has found an opportunity to be the first in the field which this volume is an attempt to explore and explain. In early life he was the projector and co-editor of the only magazine in the United States ever devoted to the interests of shipbuilding, engineering, navigation, and commerce, -1854-58. The insight then enjoyed has ever been remembered. Though many trade experiences have intervened since that time, the impressions received in regard to the shipping business have been not only deepened, but increased in number. Light is for distribution. No longer young, it may be full time that some of the facts which the author has learned be given to those who shall follow him; while it is certain, any light that his efforts can cast upon the "Shipping Question" cannot be thrown too soon for the country's good. Making no pretensions to literary skill, but sensible that men of letters are also men of ideas, he trusts that his facts and figures have sufficient eloquence to make their way. In this age, facts make their own best arguments; nevertheless, it has seemed useful to impress their teaching, since all readers have not time to spare for study. In all that has been undertaken, the object has been the arrival at truth. The author has not searched for support to theories of any kind. If he has argued for "protection" to shipping, it is because he sees that it is necessary for the reinstatement of that great interest. He believes that this action would be for the public good. A prosperous marine in the foreign trade would be advantageous for each and all of our people. Every loyal citizen must want an American marine. How to obtain it seems clear enough. The concluding chapters discuss the legislation required. That this volume shall arouse our nation, and inspire a vigorous public sentiment, which shall demand the enactments essential to the full enjoyment of our maritime rights, of solid prosperity and real independence, is the earnest desire of the author. WILLIAM W. BATES. NEW YORK, October 1, 1892. CONTENTS. THE NATIONAL INTEREST IN A MARINE. Sovereignty of the Sea. - Necessity for Ships. and Progress.-Sea-Power in History. - Colbert's Great Work in THE NATIONAL ECONOMY OF SHIPPING of our own. Advantages of Shipping. - A Sample of Economic Misteaching. — The National Use of Merchant Shipping. - The Business of Foreign Shipping. Early Experience in balancing Trade. - Navigation. and Commerce for Different Periods, Table. - Cost of our Present Dependence on Foreign Shipping.- Foreign Ship and Tariff Taxes The American View a Century ago. - Jefferson's Appreciation of Navigation. The Utility of our Early Marine. - Culmination of Carriage, Table. - The Inadequacy of our Present Marine. - De- pression of Carriage, Table. - Depression of Carriage, Corrected - The Progress of Navigation - British Ascendency. Proportion of the - - Foreign Coöperation. The Sources of Free-ship Machination.- Objec- tions to American Shipbuilding. — The "Free-ship" Notion an Im- Builders as Owners. — Owning follows Building. - British Experi- ence, Table. — Protection to Building is Protection to Owning . The Test of Economic Building.-Comparative Cost and Durability, - Lloyd's Register for Authority. - Endurance of Sail Vessels above 100 Tons, Table. — Longevity of Sail Vessels above 100 Tons, Table. — Longevity of Steamers above 100 Tons. -The Ratio of Life to Endurance. Comparative Survival of British and American built Wood and Iron Vessels. - Average Ages of Existing Fleets, Table. Fleets above 10 Years, Table. — Ages of Fleets above 15 Years, Table. Average Ages of Fleets at Different Stages of Survival, Table. Proportion of Vessels above 15 Years of Age, surviv- ing to Different Ages, Table. - Proportion of Tonnage above 15 Years of Age, surviving to Different Ages, Table. Comparison of Survival: Age, Number, and Tonnage combined. - Final Com- parison of Survival: Number and Tonnage only combined. Final Test of Superiority. - British Iron and American Wood Sail further compared. Proportion of Numbers and Tonnage and Dif- ference, Table. - Average Excess of American Survival and Profit- FOREIGN MARINE INSURANCE POWER AND ITS IRON RULE. State Insurance Protection. - British Insurance Protection. - The Wheat Tariff Association. - Copy of Agreement. - The Object of this Foreign Trust. - Decline of American Underwriting. - British Mercantile Discrimination. "Insurance on Wheat," Banker's Magazine. Boycott of the Liverpool Corn Exchange. - Mr. Fow- Comparative Seaworthiness and Safety of Foreign and American Ships. - Comparative Ship Performance. Part First of Table VI., Averages. - The Fallacy of Free-carrying. Lord Bacon's Prin- ciple. The Motion of Trade: Percentage of Number, Table. - Percentage of Tonnage, Table.-Carriage, Speed, and Efficiency: Part Second of Table VI. - The Consequence of Deep Loading. -Wood Ships can carry most. American Superiority in Speed. -American Superiority in Efficiency. - Iron Ships least Efficient. - Unfounded British Sentiment. American Superiority in Speed and Efficiency, Table. - American Ships superior to European Craft.Extremes of Efficiency - Averages of One Month in Each of Four Years, Table. - Extremes of Efficiency in Four Years, Table. Observations on Models. — Safety and Seaworthiness. — Part Third of Table VI.: Lost, in Peril, etc. - Proportionate Safety of British Flag. The Greater Economy of American Ships. - Part Fourth of Table VI.: Property Losses. - Comparative Peril per Ton Part Fifth of Table VI. - American Superiority for In- surance.- - Peril Rate of Different Fleets, Table. - Comparison of British and American Fleets.-Proportionate Economy of British Flag. Peril Rate of Wood and Iron compared, Table. — Unjust Underwriting Rates. The Comparative Turnout of Cargoes Corrected Table of Turnout of Cargoes. — What has been shown - Economic Features of 1889. The Export of Grain. The Business |