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I began to wonder why we had not learned a lesson from England's lamentable showing in 1915. What good did all our wealth do us now? It would be taken from us had not the Germans already levied an indemnity of four hundred millions upon Philadelphia? And seized the Baldwin locomotive works, the greatest in the world, employing 16,000 men? And the Cramp shipbuilding yards?

These Fundy tides probably are the greatest in the world. This great ebb and flow of water serves to aid shipbuilding and the launching of vessels as well as to carry the deep water far up into the inlets of the coast and into the mouths of the rivers, making these navigable for crafts of considerable size well into the land or up to the lowest falls of the streams.

Tariff schedules and subsidies affect the direction of commercial enterprise, and therefore the nature of human contracts. And so it may well happen, as it did for example in the case of Salem, Massachusetts, that a change in the art of shipbuilding will reduce a whole city from a center where international influences converge to a genteel provincial town.

"Good morning, Farnum. What are the prospects?" It was Clinton Rogers, of the big shipbuilding firm Harvey & Rogers, that stopped him now. "Still anybody's fight, Mr. Rogers." The young lawyer's voice fell a note to take on a frankly confidential tone, an accent of friendliness that missed the fatal buttonholing familiarity of the professional politician.

Quebec was the great timber-trade and shipbuilding centre; Montreal the point where furs were collected for export. From Quebec 151 vessels took clearance in 1774. In 1800 there were 21 Quebec-built vessels on the local register. Ten years later there were 54. The Great Lakes had no such early development. Moreover, the days of their small beginnings were full of retarding difficulties.

He tells a wonderfully interesting story. La Salle built a vessel of 60 tons, and carrying 7 guns, above the Falls of Niagara, having laid the keel in July, 1679. There are always difficulties attending new enterprises, and La Salle's shipbuilding operations were frequently and annoyingly interfered with. The carpenter was an Italian, named Tuti, and he occupied seven months in building the craft.

Germany, from an agricultural State, became a State largely occupied in mining, smelting, spinning, and shipbuilding; and there went with this revolution, as there always goes with modern industrialism, a large and unhealthy increase of population. Secondly, the German Empire developed a new and very large maritime commerce.

Frederick enjoyed listening to the lively barber retail gossip, while he lay stretched out in his patented chair. It diverted his mind from troublesome thoughts. The barber, who had been sailing the seas for many years, was by no means of the ordinary type of his class. He delivered a short discourse on modern shipbuilding, the moral of which was, not to construct light steamers for speed.

Lord Pirrie, considered one of the best authorities on shipbuilding in the world, was the designer. The leviathan was launched on May 31, 1911, and was completed in February, 1912, at a cost of $10,000,000. The Titanic, largest liner in commission, was a sister ship of the Olympic.

And I see no very particular reason why we should not go alongside and hear what they have to say about the affair. We need not tell them very much about ourselves, you know, except that we are the yacht Flying Fish, cruising in these waters for our pleasure and to test the value of a new principle in shipbuilding. It is just possible that he may have something of importance to communicate to us."