New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-03-11
THE SHIPPING INTEREST.

It is probable that no branch OF industry mas
suffered SO much by the war as our mercantile
marine, the change in the currency having
increased the cost of oil the materials used IN
building or in running vessels, while the owners
have not had any corresponding advantage in a
rise of freights, but have been rapidly losing the
carving trade even at low freghts The course
of England in permitting the fitting out,
manning and arming Of priyateers, and
still sustaining them by furnishing coal
and other supplies in her ports, has cost
US not alone the value Of the vessels and car
goes burned, but also a heavy war risk in insur-
ance on all our other vessels and their cargoes.
This item alone has proved so serious as to
drive ship owners out Of market, and has
obliged them to remain idle, or to sell vast
number of vessels 1t is cheaper now to ship
all but the cheapest goods in foreign bottoms at
the average rates of freight than to ship them
free under the American flag, the war risk Of
insurance costing more in most cases than the
whole usual freight.
Ships are the tools of commerce, and their
loss or enforced idleness is q serious evil TO our
commercial prOsperity-an evil for which there
is no remedy while the priyateers are atioat.
But war often ends suddenly, and as suddenly
springs up in other quarters. Six months hence
We may have peace, while the nations whose
flags have displaced our own may be engaged
in war-a state of affairs which would make our
flag again the iavorite in all parts Of the world.
We ought to be in a position to take advantage
Of this possibility. We could do so at once, and
could increase the amount of our tunnage to
higher point than ever before, by change in
the law which prevents the transfer OF foreign
vessel to the American flag. That law was
once useful, but when peace comes to US, it will
seriously impede our commercial prosperity, if,
indeed, it does not wholly prevent our taking so
leading position in the carrying trade as to
make UP our present loss. Such position, once
regained, it would be difficult again to wrest
from US, but it is one in which our own ship
Yards could not place us in lifetime. The
advantage to the country of possessing the
carrying trade and of having large body of
sailors a. its call 10 serve in case of war, we
need not now dwell on.
This permission to our citizens TO purchase
foreign ships and sail them under the American
flag should, of course, be attended with tun-
mage duty equal to the amount Of tax which
ships built here have to pay, either directly,
under the Internal Revenue tax, or indirectly,
under tho Tariff act Why should not Congress
take immediate action in the matter, to insure
the bill being considered and perfected at this
session And even ii such measure, which
would reflect tho policy of most commercial
countries, is thought to be for any reason mad
vsable, at least permission may be granted to
transfer again under our flag such vessels as
once were entitled to carry it, We have sold
great numbers of ships to citizens Of foreign
countries, and they are now sailing under for
eign flags. Every merchant understands that
on the return of peace it will be for interest
that these ships should return under their old
flag. The law as it stands to-day does not per-
init it. Should it be amended only so far as to
allow the restoration of these recently-trans-
ferred vessels to their rghtiul national charac-
ter the change will be of the greatest benefit to
American commerce.