[134] All our shipowners had not, however, even then given way to despair, and Mr. Farrer reminds me of a speech which, at the time, had a considerable effect in rousing the drooping spirits of those who were in doubt. He says, in a note I received from him the other day: “Shortly after I joined the Board of Trade, in 1850, I went to dine at some large dinner in the City (a dinner, I think, for one of the great marine charities) at which a great number of the large London shipowners were present. They were then in a state of great irritation at the recent repeal of the Navigation Laws. Amongst those present was the late Mr. Richard Green, who, as is well known, was one of the very few shipowners who supported the Government on the repeal of these laws. After dinner the usual speeches were made, and amongst them was one by the Secretary to the American Legation, a young gentleman who addressed us in the flowing style not uncommon with young Transatlantic orators. After him came Mr. Richard Green—the contrast of style was striking. ‘We have heard,’ he said, ‘a good deal to-night about the dismal prospects of British shipping, and we hear, too, from another quarter, a great deal about the British Lion and the American Eagle, and the way in which they are going to lie down together. Now, I don’t know anything about all that, but this I do know, that we, the British shipowners, have at last sat down to play a fair and open game with the Americans, and by Jove we will trump them!’ The feelings of the other shipowners present may be conceived.” And I may add he _did_ “trump them,” for shortly afterwards he built a ship called the _Challenger_ to match their _Challenge_, which thoroughly eclipsed her. [135] See Tooke’s ‘History of Prices,’ vol. v. p. 303. [136] Mr. Farrer’s connection with the Board of Trade commenced in 1850, when he was employed by the late Lord Taunton, then Mr. Labouchere, to draw up a Merchant Shipping Bill; and he has ever since had important relations with that Board, more especially on all matters connected with the Mercantile Marine, first, as Secretary to that department, and now as permanent Chief Secretary to the Board.