“The central position of the United States, between Eastern Asia and Western Europe, affording routes but little longer, if any, than those now traversed between these distant regions, aided by the superior expedition of railway transportation between the Atlantic and Pacific coasts, will furnish such facilities as will make their adoption a practical necessity for the commercial intercourse between Europe and the populous countries of Eastern Asia. These considerations, and others which will readily suggest themselves, render it important that the Pacific routes properly belonging to us should be occupied by American mail-steamers, the profits of which, with the addition of a small subsidy for the mail-service, would justify the establishment of one or more steamship-lines which would be remunerative to the proprietors.”
Now that the rebellion is ended, those steamers which were withdrawn during its progress, thus affording foreign powers all the advantage of ocean lines, will no doubt resume their voyages for the benefit of our own.
The prospects of Philadelphia were brightening up under the influence enterprising men exercised over its commercial interest; and up to 1794 the manufactures, trade, and general business were rapidly extending and improving. Mathew Carey, speaking of our city and prospects, in a pamphlet published in 1793, says,—
“From the period of the adoption of the Federal Government, at which time America was at the lowest ebb of distress, her situation had progressively become more and more prosperous. Confidence, formerly banished, was universally restored. Property of every kind rose to, and in many instances beyond, its real value; and a few revolving years exhibited the interesting spectacle of a young country with a new form of government emerging from a state which had approached very near to anarchy, and acquiring all the stability and nerve of the best-toned and oldest nations.” In this prosperity, which revived the almost extinguished hopes of four millions of people, Philadelphia participated in an eminent degree. Numbers of new houses in almost every street, built in a neat, elegant style, adorned, at the same time that they greatly enlarged, the city. Its population was extending fast: even at that period the number of vessels that entered the port was 1050. Philadelphia still retained its predilection for old sites and associations; for up to this period, and even long afterwards, the main place of business was Front and Water Streets, extending along those streets from Race down to Almond. Front Street below Market, extending down to Walnut, was the great commercial centre of trade. It was here Thomas Bradford, the root of the present generation of that name, was prominent as an editor of the newspaper called “The True American:” his office was on the west side of Front Street, below Market, No. 8. This property was subsequently sold to John Moss, Esq., upon the site of which he built a store especially for his business. Bradford sold out “The True American” to Thomas T. Stiles.