The prosperity of Gloucester has come from the fisheries, it being the greatest cod and mackerel port in America, and having the most extensive fleet of fishing-boats in the world, exceeding six hundred, employing over six thousand men. The population approximates thirty thousand, and it is said their earnings on the fishery product are over $4,000,000 annually. The earliest form of the Cape Ann fishing-smack was known as the "Chebacco," two-masted, cat-rigged, and of ten or twelve tons, made sharp at both ends, and getting the name from the first place of building, Chebacco Parish, in Ipswich, adjoining the Cape. From this was developed the popular American build of vessel known as the schooner, the first one being launched at Gloucester in 1713. After sliding down the launching-ways, she so gracefully glided out upon the water that a bystander exclaimed in admiration, "See how she schoons!" and thus was she unexpectedly named, for a "schooner" has that style of vessel been ever since called. Gloucester surrounds its spacious harbor as a broad crescent, having Ten Pound Island in front sentinelling the entrance to the inner haven, so named because that was the price said to have been paid the Indians for it. The deeply indented harbor opens towards the southwest, being protected from the ocean by the long peninsula of Eastern Point, having a fort and lighthouse on its extremity. Some seventy wharves jut out from the circular head of the bay, with granite hills rising behind, up which the town is terraced. Shipping of all kinds are scattered about, including large salt-laden ships, while fishermen and sailors wander through the streets and assemble around the docks, spinning yarns and preparing for fishing ventures out to the "Banks." The odd old town around the harbor has seen little change for years, but the newer portions are greatly improved, having many imposing buildings, including a fine City Hall. The numerous churches have gained for it the title of "Many-spired Gloucester," and no place could disclose more picturesque sea views.