In these days of thrifty transportation by sea, when coal shovels have superseded watch-tackles, and ship-owners are expected to look cheerful with steamship rates at $14.00 a ton from New York to San Francisco, and $12.00 a ton from New York to Melbourne or Hong-kong, the rates of freight that the clipper ships earned from New York to San Francisco seem almost incredible. In 1850 the _Samuel Russell_ received $1.50 per cubic foot, or $60 per ton of 40 cubic feet. She registered 940 tons, and being a very sharp ship would probably carry not more than 1200 tons of California cargo. But even so, her freight would amount to $72,000, or a little more than her first cost ready for sea. The other clippers at first received the same rate, but by degrees, as they increased in tonnage and in number, the rates of freight declined to $50 per ton, and then to $40 where they remained for a considerable time. The California clipper period covers the years 1850-1860, during the first four of which nearly all of these famous ships, numbering one hundred and sixty, were built. (See Appendix I.) Most of them were launched at or near New York and Boston, though some were built elsewhere, Richmond, [Illustration: Jacob A. Westervelt Jacob Bell Clipper-Ship Builders] Baltimore, Mystic, Medford, Newburyport, Portsmouth, Portland, Rockland, Bath, and other ports contributing to the fleet. These splendid ships--the swiftest sailing vessels that the world has even seen or is likely ever to see--sailed their great ocean matches for the stake of commercial supremacy and the championship of the seas, over courses encircling the globe, and their records, made more than half a century ago, still stand unsurpassed. After carrying their cargoes to California at the enormous rates we have given, these ships would return round Cape Horn in ballast for another cargo at the same rate, as they could well afford to do, or would cross the Pacific in ballast and load tea for London or New York. Many of them more than cleared their original cost in less than one year, during a voyage round the globe, after deducting all expenses.