Barometer | 28 May 2015
From our UK edition
Steam privatisation Cunard celebrated its 175th birthday by sailing three liners down the Mersey. The formation of the Cunard Line was an early triumph of privatisation. — The Post Office had been operating a monthly service to New York with sailing brigs since 1756. In 1836 a parliamentary committee decided that a steamship service should replace it, and that it would be more efficient for the Admiralty to put it out to tender to private operators. — Samuel Cunard defeated the Great Western Steamship Company and the St George Steam Packet Company by offering a fortnightly service from Liverpool for an annual subsidy of £55,000. The service, which at first only reached Halifax, began in May 1840.