 Clifford's essay is chiefly remembered for two things: a story and a principle. The story is that of a shipowner who, once upon a time, was inclined to sell tickets for a transatlantic voyage. It struck him that his ship was rickety, and that its soundness might be in question. Knowing that repairs would be costly and cause significant delay, the shipowner managed to push these worries aside and form the “sincere and comfortable conviction that his vessel was thoroughly safe and seaworthy.” He sold the tickets, bade the passengers farewell, and then quietly collected the insurance money “when she went down in mid-ocean and told no tales” (1877, 70).