INTRODUCTORY PROCEEDINGS. xxxi 



Washington L. Capps, the first secretary-treasurer during the years 1893, 1894, aiid 

 1895, and again in 1901, 1902, and 1903. 



Francis T. Bowles, the first chairman of the Executive Committee and secretary-treas- 

 urer during the years 1896 to 1903, inclusive, and president for the six years 1904 and 

 1909, inclusive. 



Frank L. Fernald, the nestor of the United States Navy Construction Corps; vice- 

 president from 1896 to 1912, when he was elected as honorary vice-president, which office 

 he still honors. 



Edwin D. Morgan, grandson of New York's Civil War Governor. Enthusiastic in the 

 development of yachts, and particularly along our lines, distinguished by his activities in con- 

 structing, managing and sailing several of the great yachts that have from time to time won 

 the races wherein attempts were made to take from our nation the celebrated Queen's Cup 

 won by the America. 



Harrington Putnam, well known counsellor-at-law, with a predilection for admiralty 

 matters; member of our Council from 1893 to 1908; now a justice of the Supreme Court of 

 the State of New York. 



The services of these men not only to our Society, but to the nation, need no encomiums 

 from me, for you all know how valuable they have been, and you know as well the con- 

 stant, loyal interest they have borne for so many years and still bear in all matters pertaining 

 to the Society they helped to form twenty-five years ago. 



The tenor of most of the papers presented at the first meeting referred to the American 

 merchant marine, and it is evident from the namesi and connections of the 262 Members, the 

 155 Associates, and the 3 Juniors of that first year, that the Society was formed with the 

 idea that "the knowledge disseminated by the deliberations and discussions" would add to 

 the development of the commercial as well as the naval power of the United States. 



Again quoting President Griscom's opening address, "There can be no doubt that such 

 a society, firmly established by your distinguished membership, should exercise a valuable 

 influence on the future of our navy and of our commercial marine. Sir Nathaniel Barnaby, 

 late Chief Constructor of the British Navy and one of the organizers of the British Institution 

 of Naval Architects, remarked in my presence that no nation could maintain an efficient 

 navy without a prosperous commercial marine to support it." 



President Griscom called this a truism^, and the statement is a truism to-day as it was 

 twenty-five years ago, and that the United States have succeeded in the past twenty-five 

 years in establishing a navy of which we are proud, and have not until within the last year and 

 a half attempted seriously tO' establish a commercial marine at all worthy of the country's 

 greatness only proves that there are exceptions even to truisms. 



World-wide disturbances caused by the greatest of all wars have now forced in every one 

 of the United States a public opinion that freely gives billions of dollars for an American 

 merchant marine to advance which heretofore an expenditure of anything but a compara- 

 tive pittance was denied. 



Perhaps I am devoting too much time to the event of which we are to-day celebrating, 

 the twenty-fifth anniversary,' but reading over the first volume of our Transactions brings to 

 mind the changes that twenty-five years make. A quarter of a century — a generation — 

 naturally makes a great change in the personnel of any association, and a second like period 

 in the future will make a still greater difference. This much, however, is to be said — 

 whether the members of twenty-five years ago accomplished the height of their ambition or 



