ceased to exist; the Civil War and the heavy taxation of the United
States entirely altered the trade and navigation of the country.]]
Thus, not only does the American merchant face the competition of his
own countrymen, but he even supports that of foreign nations in their
own ports with success. This is readily explained by the fact that the
vessels of the United States can cross the seas at a cheaper rate than
any other vessels in the world. As long as the mercantile shipping of
the United States preserves this superiority, it will not only retain
what it has acquired, but it will constantly increase in prosperity.