The Royal William and the Pandemic
The SS Royal William was built in Quebec City for John Molson and a syndicate of other shareholders, fitted with a steam engine in Montreal in 1831, and soon entered into packet service between Quebec and Halifax. Until 1839, the Royal William was the largest passenger ship in the world.
In 1833 she crossed the Atlantic fully under steam power except for one day under sail while her boilers were cleaned out– arguably the first transatlantic voyage by a steam vessel. Ultimately she was sold to the Spanish Navy and became the first steam vessel in the world to fire a shot in anger.
One would think that with so many firsts and successes, her builders would have made a killing, but in fact, they lost their shirts. And therein is the first lesson.
As it happened, the Cholera Epidemic of 1832 essentially shut down travel and commerce and the Royal William sat idle for an extended period. When she was re-started, lack of maintenance forced costly repairs and the project was bankrupted. A group of lenders bought her at auction and soon made a good profit.
But as it also happened, one of the Halifax investors carefully watched both the good and the bad, and a few years later applied his lessons as he pioneered regular transatlantic steam passenger service. His name was Samuel Cunard, founder of the Cunard Lines.
And therein is the second lesson. Epidemics and pandemics can have brutal consequences on us and our economies, but those who learn their lessons and adapt can profit, and profit greatly.