Could the story have been set in another time period or place? How would making it a more modern tale have changed it? What if it were set earlier?

This story takes place in late 19th century America. Could it have been set in another time period or another place? How would making it a more modern tale have changed it? What if it were set earlier?

Because there was much belief in folklore and mythology in the late 1800s, I believe mermaids were very common to the populace. Being in an earlier time (as long as large boats and ships were part of the world) the story would survive as well. I don't think there would much sense to have the setting any more modern than it was. Set in another place? Sure, as long as there was water where mermaids survived. I liked the setting exactly as it is!