After securing the financial backing of several parties, he helped organize the Propeller Steamship Company which in 1839 built the world's first successful screw-propelled steamship, SS Archimedes.
Varmistettuaan rahoituksen usealta taholta Smith auttoi organisoimaan Propeller Steamship Companyn, joka vuonna 1839 rakensi maailman ensimmäisen toimivan potkurilla varustetun höyrylaivan, SS Archimedesin.