The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-09-02

Tn this age of progress success in trade demands
keen perception and indomitable energy. We must
not only know ourselves and what are capable
of doing; but we must know others, and what it is
possible for them to accomplish There is, at tins
time, a revolution going on in the carrying trade
of the world. Steam is supersedng sails, and, for
freight bearing vessels, the paddlewhce is yielding
to the propeller. Are we preparing ourselves to
enter upon this new race for maritime supremacy,
or shall we concede precedence to other nations
more ready to catch the spirit of the age and to
profit by its admonitons There was time when
we entered boldly into competition with England
for the dominion of the sea, and so long the
struggle was between the sailing vessels of the
two nations the odds were in our favor. Then it
was that our clipper ships girdled the world with
wealthy argosies, and our flag was recognised and
our name Familiarity known in every land
But since the introduction of steam we have fall
tered in the race, and have suffered England to re-
sumo, with firmer grasp, the trident we were in
the act of wrestling from her. At this time, her
steam propellers driving our clipper ships from
the ocean, She sails round us, laughs at us, and
shows US a clean pair of heels She has converted
the broad Atlantic into an English Lake, and has
Whilst we are arguing that steamers will not pay,
she proceeds, actively but quietly, to build more
steamers. Even cautious and methodcal Germany
bargains for propellers built upon the Clyde, and
organizes line between Bremen and New York
Another line, to consist of seven propeers, has
been established between Galway and New York.
Glasgow owns third In the meantime, the port
of New York is crowded with sail vessels lying
idle at its wharves, whilst foreign steamers moored
saucily alongside, are reapng rich harvest in
freight and passengers. But it has been inconsid-
erately assumed, by our merchants and ship own
ers, that as the COLLINS line, even with the aid of
a subsidy from the government did not succeed,
therefore, ocean steam navigation must be unpro-
fitable; yet the CUNARDERs, with whom the COLLINS
line came into direct competition, have not found
it so the vessels would have been withdrawn
long since. The fault then, is not in the class of
vessels, but in the management. But whatever
might be said of the great expense of keeping up
line of sidewheel steamers the case is different with
respect to propeers. 1t is strange, moreover, that
our countrymen do not see, that Ocean navigation
by steam is compemental to the railway and the
locomotive, and that they might as reasonably ex-
pect the old fashioned Mail-coach or the COnestoga
wagon, to compete successfully with the locomotive
as to maintain our maritime footing by opposing
sail vessels TO propellers. 1t is sheer nonsense to
say that the expenses ofpropeerS cat mp the profits
and that in American hands they cannot be made
to pay What others can do, we are certainly ca
pable of performing. The Scotch, the Irish the
Germans, and the English, have succeeded in this
new field ofcommercial enterprise: why then should
wifi
also? Every body knows that the cost of fuel
which is the principal item of expense, is greater
with them than with us, and it would be libel
upon our seamen to say that they are not active
and intelligent as those of any other nation. But
it is alleged that this class of vessels cost more to
build, and equip, in America, than elsewhere, and
that therefore, the annual interest upon the capital
invested being much larger the net earnings are
reduced in proportion. If this be true, our mer-
chants must purchase their ships wherever they
can obtain them-all other things being equal-a
the cheapest price. In to this suggestion it
may be commended that under our Navigation Laws,
they would not then be permitted to engage equal
terms, with American built vessels, in the coasting
and other trade of the UNITED STATES. Granting
this to be so, they would still be placed on a better
these circumstances they would be exempt from
many restrictions imposed upon the latter. 1t
must moreover, be borne in mind, that foreigners
are multiplyin the number of their steam-vessels
trading to our ports, Notwithstanding these
restrictions, and this would certainly not be the
case if they were sinking, or expected to sink
money by the OF Grafton. If, then, they manage
to succeed under disabilities from which we should
be either wholly or partially relieved why should
we hesitate to follow the example they have set
us? At present, we are literally doing nothing.
In point of fact, doing worse than nothing.
We are sinking the interest upon vast amount
of capital locked up in sailing vessels, that are
lying idle for want of freights, and careessly
permitting others to snatch the carrying trade
from our loosening grasp. 1t is perfectly clear
that something must be done to recover the
ground that has been won from us of late, or we
shall suffer materially in our maritime position.
Nor is it the commercial and maritime interests
only that will be seriously affected by allowing
the steam vessels of other nations to acquire a
preponderance the high seas Our national
power and prestige will also be jeopardized Every
sailing vessel withdrawn from the ocean, and
laid up in ordinary, limits, to that extent the
capacity OF our nursery for able seamen, and if,
by the introduction of steam. propellers by other
nations, the number of our sea-going vessels,
instead OF keeping pace with the increase of our
commerce, should be reduced one-third, we should
be constrained, in case of emergency, to make |
I'D the deficiency with landsmen This is not all
If we desire to maintain our acknowledged rank
in the eyes of foreign Powers, our national marine
ooft Tho oh
If they build steam gun-boats and steam frigates.
we must build steam gun-boats and steam frigates
likewise; or we can never hope, with any
confidence, to measure our strength fairly with
them in pitched battle. 1t may be, that the
necessity for doing so will not arise for many
years yet to come; but who can tell? Peace is
undoubtedly, blessing, and is worthy of our
most strenuous efforts to preserve it, so long rs
it can be done with honor; yet, to maintain
pacific relations with other governments, we must
be prepared to accept the alternative. We have
an extensive sea-board TO defend, and the science
of naval warfare has undergone so many changes
recently that Notifications, scattered here and
there along the coast, would offer but feeble
resistance to hostile fleet, propelled by steam
mower. and armed with all the destructive enginery
invented bv modern science. How little capable |
ordinary Notifications are of resisting lombard
ment, let Bomarsund answer. But 1t Is the
commercial aspect of the case that IS most
deserving of consideration at this time, and the
question we have to answer is whether we are
content to lose the carrying trade to and from our
own ports, through own supineness and
groundless apprehensions of pecunary loss; or
whether we will adopt the improvements of the
age, with respect to ocean navigation, and, by so
doing, enter the lists with foreign nations upon
an equal footing, and with equal chances of
success?