It seems scarcely credible that only as recently as 1870 there were not more than ten sailing-ships afloat of two thousand tons register and upwards under the red ensign of the British mercantile marine. To-day we have more than that number of splendid steel sailing-ships, each having a register tonnage in excess of three thousand. During the twelve months of 1892 there were turned out from one yard alone on the Clyde, that of Messrs Russell & Co., no fewer than thirteen huge sailing-vessels, varying in register tonnage from two thousand three hundred to three thousand five hundred! One of the largest wooden sailing-ships afloat in 1870 was the _British Empire_, of two thousand seven hundred tons register, which, under the command of Captain A. Pearson, was an ark of safety to the families of European residents in Bombay during the Indian Mutiny. She had been originally intended for a steamship, and this will account for her exceptional dimensions. The shipbuilding firm of A. Sewall & Co., of Bath, Maine, U.S.A., in 1889 built the _Rappahannock_, of 3054 tons register; in 1890, the _Shenandoah_, 3258 tons; in 1891, the _Susquehanna_, 2629 tons; and in 1892, the _Roanoke_, of 3400 tons register. Several cities claim to be the birthplace of Homer, and there exists similar rivalry with respect to the first iron ship. This at least is certain, that the first iron vessel classed by Lloyd's was the British barque _Ironsides_, in 1838. She was but 271 tons register. The Clyde stands _facile princeps_ in this most important branch of industry. Vessels built on the banks of that river have rendered a praiseworthy account of themselves on every sea and under every flag. No other country, save ourselves, launched any iron or steel ships of 2000 tons register or above, but preferred to obtain them from our shipbuilding yards. The so-called protection of native industry principle prevailing in America precludes ship-owners over there from taking advantage directly of the cheapest market. Several of the large sailers, however, built on the Clyde for citizens of the United States are therefore necessarily sailed under the British, Hawaiian, or some flag other than that of the country to which they actually belong.