West Coast steamer, Bolivia.
The following is an illustration of one of the steamers now engaged on the Pacific coast line; but the Santa Rosa and the many similar vessels belonging to the Pacific Company now trading along these shores,[289] have been greatly surpassed by their screw-steamer Bolivia, of 1925 tons, launched from the building yard of Messrs. T. Wingate & Co., Glasgow, in 1874, and which is perhaps the finest, or at least, one of the finest vessels now afloat on the Pacific. The details of this handsome ship, which has an average speed of 14 knots an hour, as have also those of the other vessels of the company, will be found in the [Appendix], together with interesting and instructive returns of the cost of each ship complete for sea.[290]
“SANTA-ROSA.”
Future prospects of the company.
With the losses this company have sustained during the last few years, the differences between the shareholders and directors, and the charges of mismanagement and extravagance which have been alleged, it is not my province to deal. Companies and nations, like individuals, are frequently too prone to spend more than they ought, if unusual success has attended their efforts, or they find more money at their disposal than they can prudently or wisely expend. It has been so throughout all time and in all countries, and we daily see it in the case of individuals managing their own affairs.
It is, therefore, not surprising, and certainly nothing new to learn that, when the directors of the Pacific Steam Navigation Company were favoured with many years of unusual prosperity, after many years of hard up-hill work, and were able to divide an average of over 20 per cent. per annum among their shareholders, they should have followed the example of individuals, of companies, and of nations throughout all history; and that, in the sanguine hope of being able to maintain this prosperity, they should have expended money in the construction of ships not required, and for, perhaps, even less justifiable purposes.
It should, however, be remembered, of this great undertaking when its failings are noticed, that it has rendered very important services in developing British commerce and that, in bringing so many civilizing influences to bear upon the people of various republics, who, from their constant warfare with each other, were little better than tribes of semi-barbarians, the Pacific Company has essentially aided the cause of progress and the happiness of mankind. These advantages will be felt long after its mishaps are forgotten.
The field which the directors have chosen for their operations, is still only very partially developed, and there is, consequently, a great future for this company, if wisely and prudently conducted. It requires no prophetic vision to see that, as the commerce of the world moves westward, the principal highway to the ever envied and far famed East will be by the route which Columbus sought in vain across the Pacific Ocean. Indeed, San Francisco will soon be a greater entrepôt for trade than ever Venice was, and may, even before long, rival in many respects the now gigantic commerce of Great Britain.
Trade with Mexico.