nt in news, transport, and commerce. Our
southern harbors are no longer filled with British cruisers, while in
their stead we have built up a noble war marine, inured thousands of
Americans to the ocean steam service, and made one most effective
movement in the direction of successful defenses. (_See Letter of Hon.
Edwin Croswell, Paper E, page 200._)

Of the Collins Company it is hardly necessary that I should speak.
They have received much the largest subsidy from the Government; but
they have had a most difficult task to perform. Their ships have never
been surpassed in any country, whether as to the excellent style of
their prime construction, their large size, or their very unusual
speed. They have literally been engaged in a continual race across the
ocean for seven years, determined at whatever cost and hazard to far
excel those of the Cunard line. And this they have done most signally
in all points of accommodation and speed. They have gained one and a
half days the advantage over the Cunard line on their average voyages
for the seven years. And this was no small achievement. By reference
to Section IV. it will be seen how great is the cost of attaining and
maintaining such speed with a steamer. The Collins ships, being so
much larger than the Cunarders, the four present an aggregate tonnage
nearly equal to the eight by which they run their weekly line. It is,
moreover, not proportionally so expensive to maintain seven or eight
ships on a line as four. The prime cost and repairs are by no means so
great when engines are duplicated, or two sets built from the same
patterns. Again, the general outlay in docks, shore establishment,
offices, company paraphernalia, advertising, and innumerable items, is
as great for a small as for a large fleet of steamers. The Collins
line has to contend against all this. It also found the Cunard line
long and well established, and inwrought into the public favor. It had
the business, and most important of all, it monopolized the only
freights passing between the two countries; those from England to
America, which British shippers gave of course to British ships. They
have had also to pay much larger prices for construction, repairs,
wages, etc., than the Cunard Company; and not having so large a
service and so large a fleet, they have not had so many reserve ships
to fall back upon; but have been compelled frequently to send their
ships off but half repaired, which of itself entail