New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-11-25

clippers Tor tne Cnlnd anu Laoo ~
and were to DO found in all tne e"u
ing ports of Europe. This state VI
things continued almost down 10 'no
outbreak of the war, at winch 'in,o
great proportion of American VeS'e'o
were bought by German and English houses
and transferred to foreign flags. Inc oeoiino
amounted to nearly 40 per cent OF the en1ire
mercantile marine. In 1860 we possesseu
,2O6 vessels with tonnage OF o,9oo'ooo
tons. but in 1866 the feet had fallen to S,o4o
vessels and 1872, 900 tons. After the close Oh
the war n recovery took place, and the percch.-
age of tonnage carried to and from our porVS
under the American flag rose from ~ per
cent to 81, By 1870 we had Increased our
tonnage to 4,246,000 tons. In that year
the opening of the Suez Canal made raalcai
change in the carrying trade OF the world
From that time steam began to supersede
sailing vessels for the transport OF merchah-
disc. The same cause which. transferred the
sbip.buildng trade from Aberdeen to Glasgow
was felt with similar results by American shlp-
owners. with this addition, that we
were not prepared to undertake the
outlay reouired for a new and costly
mercantile marine. The exhaustion produced
by the war made capital so valuable Tor nome
purnoses that little could be spared Tor s Up
ping investment. The creation of new Meets
of ocean steamers would have required largo
expend. ture not only to build but to operate.
For this we were not prepared. Shipownlng
| is Mt best a precarious venture, involving huge
capital and heavy risks. IL may be SAID 10
have been aband )ned in favor of more lucra-
tive investments rather than to have declined
| from any intrinsic cause.
A glance at the history of the English mer-
| camille marine throws important hight on TINS
question. The present position has been won
at great outlay and many years OF trultless
| labor. Finding that no shipowners could Dc
| induced to establish periodical ocean lines at
their own risk, the Government about lo4o
began to grant subsidies on strict conditions
as to speed, times of sailing, postal and other
services. which were rigidly enforced. The
| first line so started was the Cunard. This was
followed by the Peninsular and Oriental,
the West Indian Mail, the Pacific Steam,
| and lastly the Union Line to the Cape.
In the case of the Pacific Steam, England sup
ported line which did not approach her own
shores but only ran between foreign ports.
| For years these lines were wholly unremuner-
| ative to the stockholders. The Peninsular ana
| Oriental paid no dividend for sixteen years
| Some of the other lines very nearly went into
Humiliation. But the Government perseyered
| in the policv. and with better times the lines
began to pay. AS the trade grew the subsidies
were either partially or wholly withdrawn.
1t by no means follows that such system
would be suitable to us indeed, the experience
of this country in regard TO previous subsidies
is such rs to make US hesitate long before we
adopt such a policy. SO far as the views OF
the committee have leaked ont they seem to
have concluded that tie best course is to set
American shipping free from all legislative
distractions, t, propose liberal system OF
postal SUI sides for work really done, but in
other respects to leave it to take care OF itself.