In considering the development of maritime commerce, it is always to be remembered that the design of Columbus and the early navigators in sailing westwards was not to find America, but to find a new way to India and Far Cathay. Mighty as America has become in the world's economy, its first occupation was only an incident in the struggle for the trade of the Far East. But with the occupation of America came two new developments in this carrying-trade--namely, one across the Atlantic, and one upon and across the Pacific. To the eventful year in which so many great enterprises were founded--namely, 1840--we trace the beginning of steam-carrying on the Pacific, for in that year William Wheelwright took or sent the first steamer round Cape Horn, as the pioneer of the great Pacific Steam-navigation Company. Within about a dozen years thereafter, the Americans had some fifty steamers constantly engaged on the Pacific coast of the two Continents, besides those of the English company. Out of one of those Pacific lines grew Commodore Vanderbilt's Nicaragua Transit Company, a double service of two lines of steamers, one on each side of the Continent, with an overland connection through Nicaragua. Out of another grew the New York and San Francisco line, connecting overland across the Isthmus of Panama--where M. de Lesseps did _not_ succeed in cutting a Canal. And out of yet another of those Pacific enterprises, all stimulated by Wheelwright's success, grew in the course of years a line between San Francisco and Hawaii, and another between San Francisco and Australia. Some forty years ago the boats of this last-named line used to run down to Panama to pick up passengers and traffic from Europe, and it is interesting to recall that at that period the design was greatly favoured of a regular steam service between England and Australia _viâ_ Panama. A company was projected for the purpose; but it came to nothing, for various reasons not necessary to enter upon here. But as long ago as the early fifties, when the Panama Railway was in course of construction, there were eight separate lines of steamers on the Atlantic meeting at Aspinwall, and five on the Pacific meeting at Panama. Later on, when the Americans had completed their iron-roads from ocean to ocean across their own dominions, they started lines of steamers from San Francisco to China and Japan. And later still, when the Canadian Pacific Railway was completed across Canada, a British line of ships was started across the Pacific to Far Cathay, and afterwards to Australia and New Zealand. So that the dream of the old navigators has, after all, been practically realised.