Democracy in America — Volume 1 by Alexis de Tocqueville

ceased to exist; the Civil War and the heavy taxation of the United States entirely altered the trade and navigation of the country.]] Thus, not only does the American merchant face the competition of his own countrymen, but he even supports that of foreign nations in their own ports with success. This is readily explained by the fact that the vessels of the United States can cross the seas at a cheaper rate than any other vessels in the world. As long as the mercantile shipping of the United States preserves this superiority, it will not only retain what it has acquired, but it will constantly increase in prosperity.