Page:History of the Indian Archipelago Vol 3.djvu/306

 290 COMMERCE WITH the superior durability of an English vessel. The American ship is a faster sailer, and will make a more expeditious voyage ; but this is perhaps more than compensated by the greater cargo which an English vessel will cari*y ; for the first will take no more cargo than she is actually rated at, or what is expressed by her carpenter's measurement, but the latter about one-third more. An Ameri- can merchantman, from being more easily navi- gated, will require no more than six hands to 100 tons ; whereas an English merchantman will re- quire an additional hand, or seven. An American ship is more cheaply provisioned, because the ne- cessaries of life are cheaper in America than in England, and because an American is, perhaps, somewhat more abstemious than an Englishman. This is again compensated by the lower rates of wages paid to English seamen. An American able seaman receives 45s. a month ; an English sea- man 3.5s. or 22 per cent. less. In all these parti- culars, the advantages are pretty nearly balanced ; in all other matters, the advantage is on the side of Britain. An American ship-owner cannot af- ford to freight his ship under L. 12 a ton to Ben- gal or China ; an English ship makes a saving freight at L. 2 less. The British merchant trades on a capital borrowed at five per cent. ; the Ame- rican must pay six. It hence follows, that, if ten per cent, be a good moderate profit to the first, to