United States and Brazil Mail Steam Ship Co. - 1886 dated Mail Shipping Bond (Uncanceled)
Inv# SB5014 Bond
$1,000 5% Uncanceled Bond. 9 coupons remain at bottom.
The United States and Brazil Mail Steam Ship Company, established in 1865 shortly after the American Civil War, was a pioneering maritime venture aimed at strengthening commercial ties between the United States and South America. As the first American steam passenger line to reach South America, the company established a crucial and regular route between New York and Rio de Janeiro, with intermediate stops in the Caribbean and along the Brazilian coast. Its creation was partly driven by Congressional interest in expanding post-war trade, particularly in promoting Brazilian coffee and opening new markets for American manufactured goods.
Despite its strategic significance, the company encountered substantial financial difficulties throughout its operation. By 1873, the firm was seeking increased mail subsidies from Congress. They argued that while their steamers contributed millions in customs duties, the monthly, 5,500-mile journey was costly and did not generate profits. The company struggled to compete with established foreign, particularly British, shipping lines and operated under restrictive contracts. Ultimately, the pioneering but unprofitable service ceased operations in September 1875, marking the end of the first major attempt at establishing a dedicated US-Brazil steamship line.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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