beams and wooden sides, forty francs a ton; for iron or steel ships,
sixty francs; for engines placed on steamers, and for boilers and other
auxiliary apparatus, twelve francs per 100 kilograms; for renewing
boilers, eight francs per 100 kilograms of new material used; for any
modification of a ship increasing its tonnage, the above rates on the
net increase of tonnage.[BO] The navigation bounties were confined to
ships engaged in the foreign trade, and were to be reduced annually
during the ten years' term of the law.[BP] They were thus fixed: for
French-built ships, one franc and fifty centimes a registered ton for
every thousand sea miles sailed the first year, the rate to diminish
each succeeding year of the term seven francs and fifty centimes on
wooden ships, and five centimes on iron and steel ships; for
foreign-built ships owned by Frenchmen admitted to registry, one-half
the above rates; for French-built steamers constructed according to
plans of the Navy Department, an increase of fifteen per cent above the
ordinary rate.[BQ]

The first effect of this law was to stimulate the organization of a
number of new steamship companies, and to occasion activity in various
ship-yards, foreign (English) as well as home, in building steamships
for their service.[BR] Most of the domestic-built iron and steam tonnage
produced during the law's ten years' term was of steamers.[BS] The
tonnage of steamships increased from 278,000 tons in 1880 to 500,000
tons in 1890. Of this increase more than three-fifths were represented
by vessels bought in other countries.[BT] The results of the navigation
bounties are shown in official statistics covering the years 1882-1890.
During this period iron or steel French-built ships earning these
bounties increased from 159,714 tons to 190,831 tons, gross tonnage;
while wooden or composite tonnage decreased from 150,233 tons to 57,068
gross. Foreign-built iron or steel tonnage earning the bounties
increased from 43,787 tons to 91,170 tons, gross; and wooden or
composite tonnage increased from 1,220 tons to 9,799 tons, gross.[BS] In
1891 the law which had then reached its limit of ten years was extended
for two years. Doubting its renewal shipowners had sometime before
ceased to increase their fleets.[BS]

These results were variously pronounced unsatisfactory, and a revised or
a new law was called for, with more and higher bounties. Owners of
wooden sailing-ships were especially clamorous for