The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1871-12-14


who accepted the agency failed 10 give
that attention % the business which
would have been bestowed upon il had
the commissions cOrTesDOuded more
nearly to those usually received by
them for the regulation of a public
loan. The credit Of the country is
fully established in every financial
center of Europe, and the bonds of the
United States can be negotiated at
their market value in a larger number
Of cities than the bonds of any other
in the world. Under these circum-
stances I think it my duty to advise
such an allowance for commissions
upon the and A per cent. bonds, as
will secure the negotiation of them
with the least possible delay. 1t needs
no analysis of the subject to show that
the interests of the country will be
greatly promoted by the proceeding,
even although the commissions should
seem to be unnecessarily large.
1 also recommend that authority be
+ given for the payment of interest in
| London. This can be done without
the least cost or risk. To the govern
ment.
THE DECLINE OF OUR OCEAN COM
MERGE.
Returns for the fiscal year Of IS7O-7I
show that the ocean commerce of the
United States is passing rapidly into
the hands Of foreign merchants and
ship builders. In the year 1860, near
/ ly Il per cent. Of the foreign COM
1 merce of this country was in Ameri-
can ships. In 1864 it had fallen to As
/ per cent, in 1858 to A per cent, and
I in 1871 il is reported at less than 3S per
/ cent. The loss of the shipping of the
| United States is due chiefly to two
I causes: First, the destruction of
| American vessels by rebel cruisers
during the war; and secondly, the
substitution of iron steamships for the
/ transportation of freight and pas
sengers upon the ocean in place of
| sailing vessels and steamships built of
wood. When the war opened English
/ builders had acquired considerable
/ proficiency, and since that period the
art has been carried to higher perfec-
/ tiOn in Great Britain than in any
other part of the world. IL is stated
that the superiority of British ma
chinery, and knowledge of the bus
| mess by British mechanics, give an
advantage over American ship bull
ders equal to at least ten per cent, up
on the cost of construction. They
/ possess additional advantages in the
cost of labor, the cost of iron, coaLand
other materials and in the rate of in
terest upon the capital engaged equal
to about twenty per cent. more; so that
the difference in favor of British ship
builders is at least 80 per cent. In
considering the means for the restOra-
tiOn of the ocean commerce two facts
must be accepted: First, that it is
useless to attempt to revive it with
wooden ships; and secondly, that iron
ships moved by sails can not compete
with iron ships propelled by steam.
Hence, the only practical questions
for consideration are these: Can the
construction of iron steamships be
established in this cOuntry2 and if so,
by what means? The trans-Oeeanic
commerce of the United States would
employ about six million tons ofship-
ping if each vessel made but one
round voyage in a year. The value of
our exports and imports has already
reached the sum of nearly eleven hun
dred millions Of dollars, and during
the present decade it will exceed ST.
500, 900, 900 annually. The annual re-
turns for freight and passengers are
about 500, 100000.
The history of the loss of our COM
merce, as shown in The statistics al
ready given, renders it certain that
without some efficient action on the
part of the government, the entire for
eign trade of the country would soon
inf fhn hnr - Of -fw l. rnha
monopoly OF trade between the United
chants and shipbuilders carries with
it the monopoly of shipbuilding for
the entire world, and, as a cOuse-
qu5nce, the Atlantic trade. The trade
of the Pacific and seas adjacent there
10 will be carried on in English built
steamers. An alteration of the law
by which foreign built vessels may be
admitted to American registry will
furnish no adequate relief. On the
contrary, the change would stimulate
ship building in England, and the
prospect of establishing it on this con-
tinent would diminish in proportion
to the prosperity of the business in the
ship yards of our rivals. In view of
the facts Of our extensive coast upon
the Atlantic and Pacific Oceans and
our position with reference to Europe
and Asia, the country ought not to be
satisfied with any policy which does
not look to the establishment and con-
tinuance of ship building in the
United States, the encouragement of
our own seamen and merchants, and
the control of so much at least of the
commerce of the world as is derived
from the export of our products and
the Importation of articles required
for domestic consumption. The re-
mOval of duties upon foreign articles
used in the construction of iron steam
ships, or the allowance of a drawback
equal to the amount of duties paid,
Will not, in the existing condition of
things, secure the Te-estabiishm ent of
the business; but, were it otherwise,
the removal of duties, or the allowance
OF drawback, raises practical questions
of great difficulty, while any cOnces-
sion by an indirect process is likely in
the end To prove unnecessarily eXpen-
sive to the country. Several of the
existing lines of European steamers
were established by the aid ofgOvern-
ment subsidies. They are still en-
Outraged by the same means, and iG is
unreasonable to expect that our mer-
chants and ship builders can success
fully compete with this formidable
combination unless they are supported
by the power of their own govern
ment. After careful consideration
of the whole subject, / am prepared to
advise the passage of law guarantee |
ing to persons who may employ in the
foreign trade American built first class /.
steamships of not less than 1000 tons Z
burden each an annual payment for
the period of five years Of the sum of
thirteen dollars per ton. The subsidy /.
should be prOportionately less to ve5-
sels of lower classification. In max I
ing this recommendation, do not as .
sumo that there is no other practical
method of restoring our commerce, I
but present it as the method which /.
appears to me to be the most efficient
and economical. Connected with this
plan il will be wise TO consider wheth-
er the ships may not be so construct
ed as TO be available for naval
purposes, and, in case Of war, subject
to the right of the United States to
take them upon payment of their ap-
praised value. 4 similar suggestion
was made by the Secretary of the
Navy in his report for the year 1859. F..
They should also be required to car
ry the mails upon moderate terms, or
in consideration Of the subsidy. The
use Of sailing vessels and steamers
built of wood may be continued sue
cessfully in the cOasting trade, the
trade with the British possessions, and
upon the rivers and lakes of the cOUn-
try, but any effort to regain our for
mer position upon the ocean by their
agency must end disastrOusly. / en-
tertain the opinion that the policy
suggested will be effectual; that in a
comparatively short period our me-
chanics and artisans will acquire equal
skill with those of England, and that
we shall rot only have the aids of the
best machinery now in use, anywhere
but that important improvements
will be made, calculated to place the
country in a position Of superiority.
We shall also be able to test practical
" Inequality of American iron, which
for the purpose Of ship building, is
represented as better than that used
in Great Britain. II il shall appear,
as claimed, that American iron is
about 10 per cent. better than the iron
used in England, an advantage will
be secured not only in diminished cost I