Remain only crawling cargo tanks, dirty tramps, greyhound liners, and a sombre, sordid type of sailing ship. The only records broken to- day by sailing vessels are those for slowness. They are no longer built for speed, nor are they manned before the mast by as sturdy a sailor stock, nor aft the mast are they officered by sail- carrying captains and driving mates. Speed is left to the liners, who run the silk, and tea, and spices. Admiralty courts, boards of trade, and underwriters frown upon driving and sail-carrying.
Nothing is ventured now.
The risks of swift passages cannot be abided. Freights are calculated to the last least fraction of per cent. The captains do no speculating, no bargain-making for the owners. The latter attend to all this, and by wire and cable rake the ports of the seven seas in quest of cargoes, and through their agents make all business arrangements. It has been learned that small crews only, and large carriers only, can return a decent interest on the investment.