THE COST OF AN OCEAN RACER—INTRICATE “FINANCING” OF SUCH AN UNDERTAKING—THE CONTRACT WITH THE SHIP-BUILDERS—THE UNCERTAIN ELEMENT IN DESIGNING—GREAT SHIP YARDS ALONG THE CLYDE—THE PLANS OF A STEAMER ON PAPER—ENLARGEMENT OF PLANS IN THE “MOULD LOFT”—WHAT IS MEANT BY “FAIRING THE SHIP”—THE “SCRIVE BOARD”—LAYING DOWN THE KEEL—MAKING THE HUGE RIBS—WHEN A SHIP IS “IN FRAME”—SHAPING AND TRIMMING THE PLATES—RIVETING AND CAULKING—READY FOR LAUNCHING—THE GREAT “PLANT” WHICH IS NECESSARY FOR THE BUILDING OF A SHIP—DESCRIPTION OF A TYPICAL YARD—WORKS COVERING SEVENTY-FOUR ACRES—WHERE THE SHAFT IS FORGED—THE LATHES AT WORK—THE ADJUSTMENT OF PARTS—SEVEN THOUSAND WORKMEN. I. As often as the “record is broken,” and the Atlantic voyage is reduced by some unprecedentedly fast passage, we may be sure that there is a flutter in the offices of the rival lines which have thus been left behind. Between the Cunard, the Guion, the Inman, and the White Star lines there has been a constant race for supremacy, now one, and then the other, taking the first place. No ship has been allowed to keep the lead for more than a year or two. When sixteen knots have been developed by one line, seventeen knots have been aimed at by another, and the ship of that speed is no longer a wonder. So when we read in the newspapers of the “fastest passage” we may take it for granted that it is no sooner heard of in Liverpool than the managers of the lines momentarily surpassed are preparing to beat it. If the triumph belongs to the Cunard line, at the very next meeting of the directors of the White Star and Inman lines it will be discussed, and though an order for another ship may not be given there and then, it is sure to follow. An order for a new ship of the class required to compete in the modern passenger service of the Atlantic is not by any means a matter to be determined on without grave consideration. Speed is costly, and as you increase it it is generally necessary to also increase the tonnage. Thus if the problem before you is to beat the record of a seven-thousand-ton ship, which has developed eighteen knots with engines of twelve thousand five hundred horse-power, you must (principally for economic reasons) have a larger hull as well as more powerful engines for your competing vessel. This forces upon your consideration tides, channels, harbor-bars, and dock accommodations, all of which impose limitations upon you. And then the cost of the ship herself is not a matter which even the wealthiest of corporations can provide for at a moment’s notice: it is not one hundred thousand dollars, or five hundred thousand dollars that the work calls for, but about five times the latter sum, for it is safe to say that a vessel superior to the City of New York or the Etruria could not be built for less than two million and a half of dollars.