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the foundation stone of Albert Harbour . During the French and American wars , when the trade between this port and the AA ' est Indies was carried on by means of fleets which sailed under convoy of well-appointed frigates , the merchant ships coining in here did not exceed 300 to 400 or 450 tons ; even the once well-known ship Christian , reckoned a crack vessel in her clay , was only 470 tons ; ancl yet she , as well all as such vessels , was obliged to come to in the road-stead to lighten for want of water

to get into the harbours . Now , the harbours of Greenock can berth loaded merchantmen , direct from their voyages , of 1000 and 2000 and 3000 tons burthen ; ancl last year Alctoria Harbour berthed and kept water-borne at the lowest ebbs , tho Royal steam frigate Blacic Prince , of 6000 tons , the largest vessel afloat , with the single exception of the Ch'eat Fastern—when no other port on the Clyde could accommodate her . And

today tbe foundation-stone of a new and great undertaking has been laid , which will have about four feet more depth of water than Victoria Harbour , and which , when completed , will place Greenock out of the reach of rivalry in point of safety for the heaviest tonnage that is likely to be built for fifty years to come . One advantage Greenock possesses , which deserves to be mentioned—our sea-way is provided for us . AVe do not need , to keep ponderous dveding machines constantly at work

g to preserve our channel from silting up . Our resources are not absorbed in forcing ancl struggling to maintain a depth of water nature never intended to give us , and therefore they are left free to work improvements from time to time , according to the requirements of trade . But , to come a few particulars . From about the year 1818—six years after the starting of the Comet —and onwards for ten years , the coasting trade of Greenook fell off . This decline has been attributed to the introduction of

steam on the Clyde ; but , by and by , as steamers themselves began to multiply , the coasting tonnage of the port began steadily to multiply also . In 1830 tho tonnage of vessels trading coastwise , in and out , was 160 , 000 tons . Thirty years afterwards , viz ., last year , this traffic had increased to over a million tons , or more than six-fold . In contradistinction to the coasting traffic , the progress of the foreign trade of the port will be seen by the tonnages , in and out , in the following years : —

1800 73 , 000 tons . 1830 130 , 000 „ 1860 340 , 000 „ The trade during the first thirty years having increased only 78 per cent ., whilst in tho latter thirty the increase had been 161 per cent ., or nearly threefold . Again , the total tonnage of all descriptions of vessels arriving at and departing from the

harbours of Greenock , exclusive of sailing and steam vessels trading within the Cuinbrae Heads , was in 1830 430 , 000 tons . 1850 850 , 000 „ I 860 1 , 200 , 000 „

And if to this foreign and coasting tonnage be added rive traffic , tugs , and steamers , and sailing craft plying between Grangemouth on the east , ancl the Cumbraes on the west , the entire aggregate will be two million two hundred thousand tons . But to into tbe money part of the question . Since 1830 the total monies expended by the Harbour Trust of Greenock on new Avorksand on the maintenance of the old harbours and

, sheds , amount to vast sum of £ 640 , 000 . Of this very large outlay there has been expended within the last thirty years on new works , as purchase of property or harbour extension , cranes , sheds , rails , timber platforms , & c , no less than £ 230 , 000 . But the debt of the Trust has only been increased about £ 100 , 000 , the balance of £ 130 , 00 having been paid for out of revenue . The harbour cluesexclusivelderived from shi and from

, y ps , aroods carried in ships , which in 1830 were £ 9000 , had risen in 1840 to £ 12 , 000 , and last year they stood at £ 22 , 000 . Fifteen years ago , in 1 S 47 , the gross revenues of the Trust were £ 14 , 500 ; last year they were about £ 29 , 000 , having thus been doubled within that period . As a set-off to those imposing figures , all showing the progress ofthe port , it may not be amiss to look at the humble origin—whence those thousands of pounds

have sprung—of Greenock as it was , compared with what it now is . The gross receipts of tho Corporation , including all the revenues now derived from Town Proper , AA ater Trust , and Harbour Trust , were , in 1750 , only £ 256 . In 1800 they had risen to £ 2131 , and in I 860 they were £ 50 , 000 . Ancl the receipts at tho Custom-house , in some measure an exponent of the

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progress of the , trade of the port , are as follows , in the years ending March the 31 st : — 1812 £ 307 . 503 1 S 52 429 . 535 1862 957 , 524 And in the month of July , just past , the revenue collected here

was £ 103 , 111 , equal to more than a million sterling in the year . And this large revenue gives by no means a fair representation of the increase of trade , inasmuch as large reductions iu the tariff both on sugar and timber have been made since 1842 . Perhaps as a minor index on the advance that has been made in improving the appliances of the port , there can be none better adduced than that , while previous to 1840 there were only three cranes in use along the breasts and quays , there are now sixteen

cranes , four of which are wrought by steam power , no less a sum than £ 14 , 000 having been expended on cranes , rails , and coal shoot , within the last five years for facilitating the trade of the port . As a proof of the enormous increase , in the sugar trade , a trade which has now taken firm root here , it has only to be stated that ivhile the imports in 1830 were 18 , 500 tons , they have this year exceeded a million tons , the intrinsic value of which when turned ont of the refineries is , in round numbers ,

something like four millions sterling . One other branch of the revenue may be mentioned' —the traffic of goods and minerals over the rails . This trade continues to make favourable way , twenty thousand tons more material having been carried during the year ending 31 st July , 1862 , than in the corresponding period of 1861 . This trade , of course , must be regarded as valuable in itself , but it is much more valuable as a feeder of the revenue through the harbour dues levied from ships . Allow me now to propose success to the Albert Harbour , and to add that I think the name opportune , in honour of that virtuous and wise Prince

who has so recently and prematurely been called away from this earthly scene ; ancl while we shall subscribe to a national monument in Edinburgh in honour of the Prince Consort , the Albert Harbour will be our local memorial . ( The speech was heartily applauded throughout , and the toast was drunk amid great enthusiasm . ) Mr . MILLER said : A rather unexpected duty has devolved upon me , but it is one which I have very great pleasure in

performing , and wliich does not require any statement . The Grancl Tyler , the Master of the Masonic ceremonies who has to-day so ably directed the manner of laying the foundation stone , considers that the silver trowel used in laying the stone should be presented to the worthy Provost on this occasion with due formality , ancl has requested me as one of the engineers to perform this duty . I need not say with what great pleasure I avail myself of discharging the duty . I am sorry that I have not the honour

of being a Mason , but I think everyone will acknowledge the able manner in which our worthy chairman has discharged all the duties of the gorgeous ceremony which has taken place this clay , even to the handling of the tvoivel . In presenting this trowel to the Honourable Provost , may we all wish that the solidity and durability of the works which he has this day inaugurated be an emblem of the long life ancl happiness which we all wish him . Mr . Miller then made the presentation amid loud

cheers . The trowel bears the inscription—¦ " Trowel used in laying the Foundation Stone of the Albert Harbour , 7 th August , 1862 , hy James J . Grieve , Provost of Greenock . Presented to Provost Grieve by the Engineers , R . Bruce Bell and D . Miller . "

The CHAIRMAN said -. I accept with the greatest pleasure the emblem you have put into my hands . BAILIE CAIRD in giving the members for the town and county , expressed the gratification felt by all on their being present and taking a part in the proceedings of the day . Mr . DllNLor , M . P ., iu replying , said that although Sir Michael and himself differed in some points of public policy though not so widely as might be thought , still in one matter ,

they were of the same spirit and mind , the interests of Greenock . ( Cheers . ) Treasurer Kiis'CAiD , proposed " The Engineers . " Mr . BELL , 'hi replying to this toast for himself and Mr . Miller , thanked ' the trust for the invariable kindness ancl courtesy they had experienced at their hands during the five years of their connection with them , coming , as they did , amongst them as perfect strangers . BAILIE GREY gave " The Contractors , Messrs . AA'illiam and James York . "