The cost to the Government of this first steamship subsidy venture,
covering the thirteen years between 1845 and 1858, was approximately
fourteen and a half million dollars.[GT]
Meanwhile, within this period, the American wooden sailing-ships
continued to be the glory of the seas, and the American clippers reached
their highest development. The appearance of steamships on the North
Atlantic and the Pacific had inspired the producers of the "wonderful
American sailing-ships" to greater efforts for their perfection; and the
clipper, surpassing all other types of sailers in size, sea-qualities,
and speed, was the result of the intensified rivalry of canvas and
steam.[GU] The American clipper-ship era fairly opened with the advent
of the Collins Steamship Line.[GV] Between 1850 and 1855 clipper-ships
were built for nearly every trade,[GW] and they were on every sea. Some
of the first were employed in the transatlantic packet service. More
became engaged particularly in the "booming" trade to California, in the
long-voyage traffic to China and India.[GX] "When John Bull came
floating into San Francisco, or Sydney, or Melbourne, he used to find
Uncle Sam sitting carelessly, with his legs dangling over the wharf,
smoking his pipe, with his cargo sold and his pockets full of
money.
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