William Patrick Anderson,
1911 Encyclopædia Britannica
(1911)
“ The great quantity of coarse freights, that could only be profitably carried long distances by water, has revolutionized the type of vessel used for its transportation, making large steamers imperative, consolidating interests and cheapening methods. It is usual for the vessels in the grain trade and in the iron-ore trade to make their up trips empty; but in consequence of the admirable facilities provided at terminal points, they make very fast time, and carry freight very cheaply. The cost of freight per ton-mile fell from 23/100 cent in 1887 to 8/100 cent in 1898 ”
