Two notable events in the history of the nineteenth century
occurred within the same year, 1849, to open new fields of trade
to the Yankee clipper. One of these was the repeal of the British
Navigation Laws which had given English ships a monopoly of the
trade between London and the British East Indies, and the other
was the discovery of gold in California. After centuries of pomp
and power, the great East India Company had been deprived of its
last exclusive rights afloat in 1833. Its ponderous,
frigate-built merchantmen ceased to dominate the British commerce
with China and India and were sold or broken up. All British
ships were now free to engage in this trade, but the spirit and
customs of the old regime still strongly survived. Flying the
house-flags of private owners, the East Indiamen and China tea
ships were still built and manned like frigates, slow,
comfortable, snugging down for the night under reduced sail.
There was no competition to arouse them until the last barrier of
the Navigation Laws was let down and they had to meet the Yankee
clipper with the tea trade as the huge stake.

Then at last it was farewell to the gallant old Indianian and her
ornate, dignified prestige. With a sigh the London Times
confessed: "We must run a race with our gigantic and unshackled
rival. We must set our long-practised skill, our steady industry,
and our dogged determination against his youth, ingenuity, and
ardor. Let our shipbuilders and employers take warning in time.
There will always be an abundant supply of vessels good enough
and fast enough for short voyages. But we want fast vessels for
the long voyages which otherwise will fall into American hands."