Year: 1879

/ II v
sanguine Americans confidently
+ look forward to the day when New
York will take the place Of London
as the centre of the worlds commerce
!. and exchanges. England, the London


Times declared a dozen years ago.
"totters at the apex of hergreatness )
and however that may be there is no
doubt that We on this side of the
water have so immensely the advant-
age Of every European State, in natu-
raj and undeveloped wealth, in cheap
lands, in security from foreign wars
and complications, in nearness to the
Central and South American and the
Chimes and Japanese markets, that if
we do not fall q prey to the ignorance
and ambition OF our political class we
can scarcely fail with the return Of
new era of "good times" to gain
much greater hold on the commerce
of the world than we have ever had.


But it is not necessary to the growth
of New York tnat London and Llv-
erpool should decay. Our proper
| share Of the increased commerce of
the world-that which will fall to US
naturally if we only prepare for it
and seize twill make our port one
Of the great centres Of exchange, and
so vastly increase its wealth and
population that even the most SAN
guine present anticipations Of its in
habitants will be exceeded. But to
achieve that we need to do. and to
undo certain things, and it ia 10 some
of these that We propos, TO call pub
lie attention.


In the first place, five compare
London and New York, considered
as commercial ports, we shall see that
New York is for the present mainly a
way station on the way to Europe. 1t
is hardly commercial or shipping
centre at all. London is a very DIFF
ferent place; there are found not
merely the products Of Great Britain
stored for shipment to other countries,
but the products Of other countries
entered for consumption ins Great
Britain: so far New York is on
level with London; but that great
and real commercial port goes faresbe-.
yond this. In the miles on miles of
warehouses, with conveniently ar
ranged docks, which constitute the
port Of london, are stored for safe
keeping immense quantities Of foreign
products from all the countries on the
globe, waiting not for the mere de-
mand, but for reshipment to any
srs4tH IS no Aag yhaFe FL thsz tbs aEs needed There
cannot find in London an assorted
cargo, suited to the demand of any
people in the world-a cargo consist
ing not of British goods alone, but of
the goods and products Of all the
principal nations. 1t is in this that
London has so great and incalculable
advantages ever New York it is be-
| cause in her warehoufe es are stored
| the products of all the world, that
ships and merchants and capital and
enterprise are drawn to her, rather
thar to New York.


In our port merchant or adven-
turer may gather, with some pains, a
cargo Of some kind; in London he is
certain always of collecting with
ease, cheaply and quickly, d cargo of
any kind he needs. The port of Lon
don is the gathering place for the
products of all climes and countries
it is their depot and distributing cen
tre; they ship there, not to market
but for market; they store Iaair
products there becase there they can
get advances there is the chief be-
Cause the widest market; because
ocean commerce needs such q central
depot, and London has arranged
cheap and safe storage for the whole
world. Compared with the port OF
London the port of New York is no
better than a retail place; yet it has
many natural advantages for the ea-
tablishment Of a worldwide whole
sale business. New York will not
begin to be rival Of London until
merchant or a trader in any part OF
the world may send his ship here'
confident that whatever he may want,
and no matter how varied his wants,
they will be filled from our ware
houses. in quantities and qualities to
meet his wishes.


That is the ideal of really great
seaport, and we are still far enough
from it.. When we have begun to at
tain it we shall be able to force the
ships and the capital of all nations to
come to US, as they are now forced to
90 to London. But we are fortunate
over our European rivals in the TACT
we shall never need such solid and
costly docks as London, Liverpool,
Havre and other European seaports
require. Our water front needs no
great outlay to fit it to receive great
| fleets. What We are still without is an