"The only question now is, who are to be the gainers by this revolution in navigation? Figures are very convincing arguments to American minds. Let us use them: In January last it was stated that less than eighteen years have elapsed since the first steamship propelled wholly by steam crossed the Atlantic; and now there are fourteen lines of steamers, comprising forty-eight vessels, plying between Europe and America."[A] Upon looking into this with a view to test its correctness, it was found to be within the truth; for, including transient steamers, the number was greater than stated. And it incidentally appeared that of them all, there were but seven under the American flag--all seven, side wheel ships--and, on the average, unprofitable, even with the support of government, upon which they leaned." [Footnote A: In twenty-one years the number of our transatlantic steamships has decreased from seven to four, while those under foreign flags have increased two hundred and fifty.] Maintaining then, as now, that the screw must supersede the side-wheel for all purposes, excepting perhaps those of mail carriage, and that iron screw steamers are, in all commercial respects, preferable to wood steamers, the argument was adduced that England, being able to construct this class of vessels more economically than we can, must of necessity have the monopoly of building them. Her monopoly, in this respect, we cannot prevent; but it depends upon ourselves and our government whether she shall share with us the monopoly of owning and sailing them. I have taken a bold, and it may be, _apparently_, an unpatriotic stand, in assuming that the only way in which we can participate in ocean steam navigation is by adopting a system of reciprocity with England in so changing our laws that we may buy her steamers as she now buys our sailing ships, because she finds it for her interest to do so." These views, _entertained twenty-one years ago_, were applicable then. They have been applicable ever since--they are applicable now. They have been the staple of all that I have ever written on the subject before the war, during the war, and since its termination. Iron steamship building was in its infancy in 1857. Its great development was merely coincident with our civil war. That war was a horrid nightmare. We found that our navigation interests, with many other things we could ill afford to lose, the lives of hundreds of thousands of our young men, vast sums of our money, and not a little of our morality, were gone. Those lives can never be restored, while our money may be regained, and it is to be hoped our morality may be improved, but as to our ships, we simply refuse to replace them with those that are better.