366 KfeuMi. 



Ultimately some were glad enough to cart coal about, 

 or any other cargo ; while others were sold to the 

 Japanese, who were just then beginning to buy all the 

 obsolete and greatest coal-consuming craft offered them. 

 The Suez Canal was like the last straw to the over- 

 laden camel. Some houses collapsed altogether. The 

 remaining firms reached level ground, and instead of 

 their representatives giving two or three thousand 

 pounds for a horse to vie with their neighbour opposite, 

 they were content to appear on the racecourse with 

 their hard-mouthed, ugly, but strong China ponies. 

 The cry went forth — trade was done for. Germans 

 came to light, and not only to light, but steadily to 

 the front. Commencing on a small scale, they gradu- 

 ally worked their way on imtil their clubs and mode of 

 living almost equalled ours. Steamers took the place of 

 sailing vessels ; the first teas were despatched by these 

 more speedy vessels ; the great clipper race of the year 

 with the spring teas was no more; the betting and 

 premiums on the first arrivals of those beautiful yacht- 

 like craft were things of the past, and, in fact, a revolu- 

 tion in trade took place. Profits were less, and fortunes 

 came less speedily. But as for trade being lessened, it 

 appeared to me, an uninitiated hand, to be only spread 

 over a larger field. I believe comparatively few people 



