It is with a yacht very much as it is with a horse—it is not so much the buying as the keeping that makes the money go. The first cost of a yacht is, of course, very heavy, and it is estimated that this outlay, with the money spent in keeping the boats and running them, annually puts in circulation millions of dollars. The greatest item of expense in running a yacht is the pay of the crew. A vessel like the Volunteer, for example, gives employment for six months of the year to fifteen men. Mr. Vanderbilt’s steam-yacht Alva carries a crew of 100 men, and the smaller of the cabin-yachts, say of about twenty-five tons, require, to properly handle them, a sailing-master, cook, and three men before the mast. All told, the yachts of the New York Yacht Club furnish employment of this kind to more than 2,500 men, to whom the yacht owners pay not less than $125,000 per month for six months of each year, or $750,000 for the six months. As the average number of yachts belonging to each of the 101 yacht-clubs of the country is thirty-three, the result shows that there is, or was on May 1, 1888, a total of 3,333 yachts enrolled in the incorporated yacht clubs of the United States; and carrying out the extensions as based upon the estimate of the New York Yacht Club, the results show that these 3,333 yachts give employment to 45,289 men, to whom wages amounting to $2,264,450 are paid monthly, or the enormous sum of $13,586,700 for a season of six months. It may be not altogether proper to base the number and pay of crews for the yachts of the whole country upon figures of the New York Yacht Club, for the vessels of that club undoubtedly ton higher on the average than the vessels of the less prominent clubs; but it must be remembered that in getting at these figures only the incorporated associations have been considered, and the hundreds and even thousands of yachts belonging to minor associations, and the many yachts which fly the flag of no club at all, have not been taken into the calculation. From this point of view, the figures for crews and their salaries as given above furnish about as good an idea of the totals as it is possible to obtain.
Again, a yacht which is kept up in good shape has to have her rigging renewed constantly, and then there are the items of new sails, repainting and overhauling on the dry dock. These expenses cannot be estimated, and it is simply impossible to make a respectable guess, but it amounts to hundreds of thousands of dollars each year.
One of the largest, and in some respects the largest, item of expense in running a yacht is the steward’s department, but it is impossible even to approximately estimate what is annually spent in this very important department. One yacht owner may spend $15,000 a year entertaining a great number of guests at his table, while another man, with the same yacht may find one-third of that amount ample for the same purpose; but the sum of money put in circulation for ship stores and table furnishings may safely be put down as double the sum per month paid to the crew and officers in wages, or $1,500,000 for the yachting season of six months of the fleet of the New York Yacht Club alone. Thus the total amount of money put in circulation in one season by the yacht owners of this one club will not fall short of $3,500,000.
If the expenditure for maintaining the 184 yachts of the New York Yacht Club is $3,500,000 a year, it is not improbable that not less than $7,000,000 is spent on the 3,333 pleasure and racing craft of the 101 yacht clubs of the entire country for a like period of time.
There are other expenses which can be neither classified nor estimated, such as, for instance, the hiring of extra men for races; the payment of prize money to the crews of race-winners; repairs following collisions, running ashore, carrying away of sails and spars, and a thousand-and-one other things. Altogether, it is not overestimating the case to say that American yacht owners put $7,000,000 into the hands of workmen and tradesmen last year, and this amount bids fair to increase annually. That which is put into new boats is not included in this calculation at all, and easily amounted to $1,000,000 more.
The steamers and the large sloops built of recent years have tended to very greatly augment the expenditure of money on yachts. The steamers, especially, are a very expensive luxury. With them the coal bill is an additional and large item.
Some very wild estimates have been made as to what it costs to run one of the largest steam-yachts. It has been said that it costs Jay Gould $3,000 a day to run the Atalanta. This is absurd. Vice-Commodore E. A. Bateman, of the American Yacht Club, who owns the steam-yacht Meteor, once was heard to say that he ran her at an expense of $35 a day; and several years ago, when Mr. James Gordon Bennett owned the Dauntless, and was commodore of the New York Yacht Club, he is said to have remarked that it cost him $25,000 a year to entertain his guests alone. Probably the most expensively run yacht to-day is the Electra, the flagship of the New York Yacht Club. It is said that she costs Commodore Gerry $35,000 a year. But a yacht of fifty tons, if economy be practiced, and she be not raced, may be run at a very modest cost.
Many thousands of men enjoy all the sport to be had out of pleasure-sailing in a craft whose first cost, completely equipped, was but $1,000 or less. Such a yacht can be run at a very slight expense. Craft of this kind are called “single-handers,” from the fact that it requires but one man to handle them. Their number is large at present, and they are rapidly growing in popular favor. If the cost of such vessels, of yachts which are not enrolled in any club, and the boats of the numerous canoe-clubs, were added to the figures given as representing the amount invested in the pleasure vessels of the United States, the aggregate would be something enormous.
ROBERT DILLON.