This book charts the development of Liverpools trade, shipping and business culture in the third quarter of the nineteenth century. Using previously neglected evidence, it assesses the causes and consequences of major changes in the ports economy, and considers the activities of the international trading community that had to work in this complex business environment. Shipowners and merchants confronted difficult choices, whether in adopting the new steamship technology, diversifying into new commodity trades, competing for government contracts, or managing their port through the elected Mersey Docks & Harbour Board.