The U.S. Navy's website has quite a story on this sleek yacht: Corsair, a 1600-ton (displacement) steam yacht, was built in 1899 at Hoboken, New Jersey, for New York financier J.P. Morgan, who once commented (in effect, and presumably based on close personal experience with the subject) that if somebody had to ask what it cost to keep a steam yacht, they could not afford it. Morgan was clearly not a member of that class. In any case, the Navy could afford it, at least in time of war, and ...