Avoiding exaggerations on both sides, we may build up on the solid keel of an English cutter a hull not widely differing in form from that of the typical American sloop. It can be done, and pride and prejudice should not be suffered to bar the way of improvement. The yachtsmen of a past generation, led by Mr. Weld of Lulworth, the owner of the famous 'Alarm,' were not slow to learn a lesson from the contests with the 'America' in 1851. We may improve our cutters, as we formerly improved our schooners, by adaptations and modifications, which need not be servile imitations of the fine sloops our champion vessels have encountered on the other side of the Atlantic. After the lapse of seven years, we find ourselves, in 1893, at the termination of a very remarkable year's yachting. The new construction has included H.R.H. the Prince of Wales's yacht, the 'Britannia,' with 23 feet beam, Lord Dunraven's 'Valkyrie,' Mr. Clarke's 'Satanita,' and the Clyde champion 'Calluna,' all conspicuous for development of beam, combined with the deep, fine keel which is our English substitute for the American centreboard. These vessels have proved doughty antagonists of the 'Navahoe,' brought over by that spirited yacht-owner, Mr. Caryll, to challenge all comers in British waters. Thus far as to sailing yachts. Though the fashion of the hour has set strongly towards steam-propelled vessels, the beautiful white canvas, and the easy motion when under sail, will long retain their fascination for all pleasure voyaging. It is pleasant to be free from the thud of engines, the smell of oil, and the horrors of the inevitable coaling. Owners who have no love for sailing, and to whom a yacht is essentially a means of conveyance from port to port and a floating home, do well to go for steam. The most efficient and cheapest steam yacht is one in which the masts are reduced to two signal-poles, on which jib-headed trysails may be set to prevent rolling. As to tonnage, the remarks already offered on the advantages of large size apply to steamers even more than to sailing yachts. When space must be given to machinery, boilers, and bunkers, the tonnage must be ample to give the required accommodation. The cost of building and manning, and the horse-power of the engines, do not increase in proportion to the increase of size. The building of steamers for the work of tramps has now been brought down to 7_l_. per ton. I would strongly urge yacht-owners contemplating ocean cruising to build vessels of not less than 600 tons. Let the fittings be as simple and inexpensive as possible, but let the tonnage be large enough to secure a powerful sea-boat, with coal endurance equal to 3,000 knots, at ten knots, capable of keeping up a fair speed against a stiff head wind, and habitable and secure in all weathers.