In this essay, Twain claims that knowledge changes the way you see the river. At first sight, you will get enchanted with the beauty and charm but the more you look, the less impressed you will become. You will begin to see the river as source of information (whether this information is from the water current, the banks of the river or the hazards that you meet while sailing there).
This perspective can also be applied to life. When your young, you only see the beauty and charm in life, however, as you grow up, you start to develop knowledge about life, you start to see the opportunities and sacrifices and the way you see your life changes.