The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-27
THE UNITED STATES AND THE CARRYING
TRADE.

From the London Times (cty Article), Nay 14l
The certainty that European war will interfere with
the carrying trade, net only Of all the Powers directly
involved but Of those ,och may be in danger Of being
yao i has caused inquiry to be directed 70 the posi-
flag The statute law Of the United States in this respect
virtually prohbtve No foreign ship be registered
ruess equal 10 twothirds Of her value shall have
been expended upon her in repairs improvements in
America Even American vessel, which has been law
fully condemned by foreign government or sold TO
foreigner cannot upon being rspurcnased oy an Amer
II Is provided that foreign vessels, which may have
acquired American flag shall lose the benefit Of regis
reside more than one year in the country of their
origin or two years in any other foreign country
Foreign steamers, their owners are resident in the
United taes may be enrolled for river service,
rty beng given that they shall not be employed on other
waters and this apparently, the sole opening allowed
any ne Jaw can pc o a. Sc
difficulty that would meet all general requirements Al
though It may be difficult 70 procure an American regis
bi Of sale drous up by the american Consul in England
together With certificate that she is oDed BY an American
eisen She will then get the protection afforded ov the
United States government 70 every description OF Amer
Can property remaining with regard 70 tonnage dues ana
all similar conditions under the liabilities common 70 any
foreign vessel That this plan would be extensively adopt
Cd In case Of England becoming involved in war can
scarcely DO doubed and IL 10 probable, also, that in
creased latitude nigh. be given by special acts TO facilitate
tne granting even OF national registry. The mpolcy
Of the existing restrictions is as obvious q that OF
all othes obstacles 70 the free interchange Of commo.
0ftieb. vi ue breaking out Of q q neutral
country could, Of course, purchase vessels from any
Of the oellEerents on highly profitable terms But
build new vessels, and always An extravagant cost
owing the general suddennees Of demand Mean while
the ships which would have fully answered tho puroose
and which might have been had at half the outlay are
lying without employment But when The war is ended
those brought into competition with the expensive
vesses built In the interval and which are at 70.
deced 70 an almost nominal value, 70 the ruin OF all who
have invested In them. The prohibition therefore, In.
wolves 70 the neutral country not merely sheer loss OF
the difference between the price of the homo built ships
and that At which tho foreign vessels could have boon
6ougnt, but eso OF the amount Of depreciation which
y ultimately inflicted both sets Of vessels, through the
eigntmarket being eluted with needless quantity The
Po1etoniss WIN urge that there was great advantage
the employment opened for home labor In the original
construction Of new vessels but this s long expod
Cd falacy BY employing labor in building vessels which
might have been had more cheaply elsewhere they have
diverted from other branches Of employment which
would have been equally profitable 1t the time, apt