of
this city; another was loaded by a Cleveland house; the others were
all owned or chartered by Capt. D. C. Pierce, the enterprising pioneer
of the trade. His first venture on the _Kershaw_, notwithstanding some
few incidental circumstances that worked to his disadvantage, was
productive of some direct profit, but a much greater profit inured to
himself, and those who followed him in this important commerce, by his
becoming well versed in the European trade, insomuch as to be enabled
to avail himself of the peculiar advantages offered by each market, as
well as in determining the character of freight most profitable to
carry. The cheapest, best and safest means of transporting the
diversified products of the West, and particularly the region of which
Detroit is the centre, to the European markets, returning with foreign
fabrics in exchange, had long challenged the attention of capitalists,
who saw in it the germ of a mighty commerce, but seemed to lack the
practical knowledge and tact to put the ball in motion. Last year
twenty-one vessels cleared from the different lake ports, mostly from
Detroit.

Another important point which is now in a fair way to be gained, is
the making of European consumers acquainted with the fact that their
wants can be supplied to any desired extent. When this information
becomes general the consumption must be vastly stimulated, affording
one of the most inviting fields for enterprise known in the commercial
annals of the world. The resources of the State are amply sufficient
to afford employment for half a century to a tenfold larger number of
vessels than have yet engaged in it. By a carefully compiled estimate,
it has been ascertained that in prosperous times the annual product of
our _pineries_ is hard upon TEN MILLION DOLLARS. Large as this sum is,
it is the opinion of those who are well qualified to form an estimate,
that it may easily be surpassed by the product of our hard timber.
Take for example the region around Saginaw Bay, which is perhaps the
most remarkable locality in the world as respects the quality and
variety of hard wood timber. Here, for near a hundred miles in extent,
upon streams debouching into the bay, are dense forests of the
choicest oak, with a profusion of hickory, black walnut, white ash,
whitewood, and other desirable varieties. The manufacture of
agricultural implements, as well as many other articles that afford
employment to the toiling millions of the ol