During the period of this wonderful advance in marine architecture ship-building in the United States languished to the point of extinction.

Yachts for millionaires who could afford to pay heavily for the pleasure of flying the Stars and Stripes, ships of 2500 to 4000 tons for the coasting trade, in which no foreign-built vessel was permitted to compete, and men-of-war--very few of them before 1890--kept a few shipyards from complete obliteration.

But as an industry, ship-building, which once ranked at the head of American manufactures, had sunk to a point of insignificance.
The present moment (1902) seems to show the American shipping interest in the full tide of successful reestablishment.

In Congress and in boards of trade men are arguing for and against subsidies, for and against the policy of permitting Americans to buy ships of foreign builders if they will, and fly the American flag above them.

But while these things remain subjects of discussion natural causes are taking Americans again to sea.
Some buy great British ships, own and manage them, even although the laws of the United States compel the flying of a foreign flag.