Early Ship-building in Philadelphia and Colonies—Paul Jones—Joshua Humphreys—“Alliance”—Truxtun—Embargo—Decade following War of 1815—“Rebecca Sims”—Inauguration of Packet Lines—Thomas P. Cope—Decay of Eastern Trade in Philadelphia—Auction Sales of Cargoes. THE historical value of the character and career of individuals must be rated by their share in and impress upon the events of their time. This is equally true of success and failure. For example, the most famous man of modern time terminated his career in the most colossal failure known to history,—Napoleon Bonaparte. Yet, if we judge by the interest the civilized world takes in every shred of his history and by the perennial halo that envelops his name, people do not think about either his triumphs or his disasters, but fix their attention singly upon the impress he made upon civilization. On the other hand, George Washington ended his career in success and glory. But few, except students and pedants, know much about Washington beyond that he was the founder of a new nation and the Father of a new country which a century after his death has become the most formidable on earth. Thus, in either case, whether of success or of failure, both gigantic, mankind rates the importance of each by the impress he made upon the events of his time and by its enduring character. Viewed broadly, the Europe of to-day as compared with the Europe of 1775 is as completely the creation of the popular forces incarnated in Napoleon Bonaparte, as the American Republic of to-day as compared with the revolted Colonies of 1775 is the creation of the popular forces whose exponent George Washington was. From this point of view, the fact that one failed while the other succeeded in the personal sense cuts no figure whatever. [Illustration: CLIPPERSHIP MORNING LIGHT] These observations, while they have none other than a general relation to our immediate subject, are pertinent to the main thread of our theme. The real test of greatness in an individual, and therefore of the historical value of his character and career, being the impress he makes upon the events of his time, it follows that, unless the mention of a man’s name instantly suggests some great thing or things that he has done, or in a masterful way has helped to do, that man was not great; he made no impress upon his times, and his biography can possess no historic value. But whenever the name of a man stands as the exponent of some great thing done or as the symbol of notable achievement, then the character and career of that man belong to history, and the obligation devolves upon literature to suitably perpetuate his memory.