The Story of the American Merchant MarineSpears, John Randolph
History
The Story of the American Merchant Marine
Spears, John Randolph
Merchant marine -- United States
No commercial ventures to the East Indies were made in colonial days
because, in part, of the monopoly of the East India Company, but chiefly
because abundant profitable employment for all available capital was found
in various trades nearer home. The fact that ships in the China trade very
often made cent per cent was, of course, very well known in the colonies,
and colonial merchants had a general knowledge of the cargoes suitable
for that trade. They knew, for instance, that ginseng, a root growing
wild in American forests, was highly valued in China for its supposed
medicinal qualities. Accordingly, when the war ended, and American ships
were excluded from such a large part of the trade which they had enjoyed
in former days, the ship-owners naturally thought of the trade to the Far
East. New York and Philadelphia merchants united in fitting out a vessel
which they renamed the _Empress of China_. She measured 360 tons, and the
chief part of her cargo was ginseng. Sailing from New York on February
22, 1784, with the sea letter noted above for a passport, she arrived at
Canton Roads (Macao) on August 23, and she reached home on May 11, 1785.
The profit on the venture was $30,000, which, being only a little more
than 25 per cent on the investment, was considered small. Other voyages
of the period are worth consideration, if only to illustrate the spirit
of the ship-owners of the day.
The most interesting of the China voyages, in this point of view, was
that of the sloop _Experiment_, a vessel with one mast and a capacity for
eighty tons of cargo, that was built at Albany for the trade of the Hudson
River. Captain Stewart Dean, her master, had served in two privateers
during the Revolution. She carried six cannon, with a liberal supply of
small arms, and her crew numbered fifteen (one account says twenty), men
and boys. "Martial music and the boatswain's whistle were heard on board
with all the pomp and circumstance of war." She carried out ginseng and
brought back tea and silks, with profit; and what is of more importance,
perhaps, in this story is the fact that she made the return voyage in four
months and twelve days. The record shows what a fore-and-aft rig can do
in a round-the-world voyage.
In the same year a Hingham sloop of only forty tons, commanded by a
Captain Hallett, sailed from Boston, bound for Canton, but got as far only
as the Cape of Good Hope. At that point English ship captains offered
Captain Hallett two pounds of good tea for each pound of ginseng he
carried, and he was willing to take the profit thus insured rather than
risk a longer voyage in the hope of a larger one.
Public-domain text, read in full here on John Shaqi.
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