 Collins and his backers, in viewing the profitable and expanding operations of their transatlantic competitor, Cunard Lines, believed there was both need and justification for a substantial increase in the subsidy, especially in light of additional support Cunard was receiving.Cunard's annual subsidy had been considerably more than doubled—from £55,000 ($275,000) to £145,000 ($725,000) between 1839 and 1846—and by 1852 it had been increased to £173,340 ($866,700).To make matters worse, by 1852 Cunard was offering at least twice as many sailings to North America as Collins.