The above tables supply material for other important conclusions. Eighteen vessels, sailing from as many different ports in East India, China, Japan, Australia, and South America, would save the average distance of 8,791 miles, equivalent to a voyage by sail of about eighty days, or to between thirty-six and forty days by steam.
Supposing the average tonnage of ships to be one thousand tons, then three thousand and ninety-four steamships would be requisite to carry the freight which would now seek the Isthmus annually. The saving of time to trade and to each man would be about three and four-tenths years to every generation of thirty-three years. The amount of tonnage above mentioned would give employment to 86,632 seamen, giving to them, by the new route, a saving of time in one generation amounting to the aggregate of 294,548 years. The benefits being diffused among all engaged or interested, directly or indirectly, the accession to the time, wealth, and industry of so large a number of men is not only a great economic and commercial advantage, but may be regarded as participating in the nature of those beneficent, moral movements which characterize the age.
The annual saving to the trade of the world is shown to be $49,530,208.00. The annual increase of the trade of Great Britain, France, and the United States is together more than one hundred per cent. The saving to the maritime powers in one year at the end of a decade will be $99,060,416.00. Assuming the trade of the three powers to increase in the same ratio, the total amount saved at the end of ten years will be equal to the aggregate of the amounts saved each year, and foots up as follows:
Amount saved at end of first year $54,483,228.80 “ “ “ second year 59,436,249.60 “ “ “ third year 64,389,270.40 “ “ “ fourth year 69,342,291.20 “ “ “ fifth year 74,295,312.00 “ “ “ sixth year 79,248,332.80 “ “ “ seventh year 84,201,353.60 “ “ “ eighth year 89,154,374.40 “ “ “ ninth year 94,107,395.20 “ “ “ tenth year 99,060,416.10 ——————————————— Entire amount saved in ten years $767,718,224.10
This result is verified by an estimate based upon the tonnage which will be actually engaged in this trade:
Maintenance of ship and crew of 1000 tons $500 per month. Interest of 1½ per cent. on tonnage worth $17,000 255 “ Insurance at 1 per cent. on value of ship worth $18,000 180 “ ———— Saving per month $935 Add reduction of insurance upon ship and cargo at 1 per cent. 350 ———— Total saving per month $1285