H.P., _per ton_ of goods.

"And if fitted to run at TWENTY MILES per hour, there will be no
displacement available for mercantile cargo.

"Assuming, now, that the COST per ton of goods will be in proportion
to the amount of power and tonnage employed to do the work, it appears
that the cost _per ton of goods_ of performing this passage of 1,000
miles, at the respective speeds of 8, 10, 12, 14, 16, and 18 miles,
will be proportional to the numbers--33/100, 55/100, 91/100, 1-52/100,
2-86/100, and 7-75/100, which are proportional to the numbers 33, 55,
91, 152, 286, and 775, or nearly as 1, 2, 3, 5, 9, and 23.

"Hence it appears, that in the case of the ONE THOUSAND MILES passage
above referred to, the cost of freight _per ton of goods_ at TEN MILES
per hour, will require to be nearly the _double_ of the rate at EIGHT
MILES per hour.

"The cost per ton at TWELVE MILES per hour will require to be _three
times_ the rate at EIGHT MILES.

"The cost per ton at FOURTEEN MILES per hour will require to be _five
times_ the rate at EIGHT MILES.

"The cost per ton at SIXTEEN MILES per hour will require to be _nine
times_ the rate at EIGHT MILES.

"The cost per ton at EIGHTEEN MILES per hour will require to be
_twenty-three times_ the rate at EIGHT MILES.

"And at TWENTY MILES per hour there will be _no displacement_
available for mercantile cargo.

"By applying the same process of calculation to a ship of 5,000 tons'
mean displacement, making a passage of THREE THOUSAND MILES, we shall
find that, at TEN MILES an hour, the cost of freight per ton will
require to be double the rate of freight at EIGHT MILES.

"The cost per ton at TWELVE MILES will require to be three times the
rate at EIGHT MILES.

"The cost per ton at FOURTEEN MILES will require to be six times the
rate at EIGHT MILES.

"The cost per ton at SIXTEEN MILES will require to be twenty times the
rate at EIGHT MILES.

"And at EIGHTEEN MILES per hour there will be _no displacement_
available for mercantile cargo.

"Finally, by applying the same process of calculation to a ship of
5,000 tons' mean displacement on a passage of 6,000 miles, it will be
found that the cost of freight per ton at TEN MILES per hour will
require to be _double_ the rate at EIGHT MILES.

"The cost per ton at TWELVE MILES per hour will require to be about
_five times_ the rate at EIGHT MILES.

"The cost per ton at FOURTEEN MILES per hour will be about _sixteen
times_ the rate at EI