This schooner was built in 1845 for John Wray and John Rawling. John Rawling was a master mariner, originally from Burton and was John Wray's brother in-law, being married to John's sister Alice. The yard had already built two vessels for Wray and Rawling, the keel "Sarah" in 1823 and the schooner "Johns" in 1836, as well as the sloop "Alice" for John Rawling in 1835.

John Rawling later went into partnership with Daniel King, another master mariner and ship owner. The yard built the brigantine "Sarah King" in 1850 for Rawling & King. Also in 1850, Daniel King partnered Samuel Bullard, forming the shipping company Bullard King & Co. It is possibly this link which led to the yard getting such prestigious contracts as for the "Silvery Wave" (1863), "Verulam" (1865) and "Burton Stather" (1866) from Bullard & King.

Peace was launched in the August of 1845 at Burton Stather, 64.8 feet long and 93 tons. She was registered at Wisbech under the ownership of Rawling & Co and described as a Goole coaster, fastened with iron bolds, part clincker built, class A1 for 11 years, in the Lloyds Register 1845.

While the Lloyds register states the owner as Rawling & Co, up until 1869, after which she disappears from the list, the 1867 Mercantile Navy Lists shows the ship now registered in London and the owner as William Smith. Most probably Captain William Robert Smith, one of the skippers that worked for Bullard & King on a number of their earlier ships in the UK coastal trade, including the schooner "Johns" and the brigantine "Sarah King". In the 1870 MNL Daniel King is stated as owner.

An example of a schooner of this size

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