The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-07
Generous encouragement for American
Shipping.


Senator FRYE OF Maine ls probably ns well
Informed IA any other statesman In Con-
cress concerning the condition, prospects
and demands OF the American shipping In.
forests. He reported Oh Saturday from the
Senate Committee on Commerce two i'm
portant bills for tho encouragement OF the
American merchant marine.
The first Is what Is known as the Shipping
League Tonnage bill. 1t provides a sub
sidy or bounty for all vessels sail or steam,
over five hundred tons and OF q certain
grade OF excellence at the rate OF thirty
cents a ton for each thousand miles sailed.
The second bill Ia Mr.. FRYE's own measure.
It relates only to steamships carrying the
United States mails, and 1t provides for
compensation for this service under con-
tracts with the Post Of1ce Department for
from five to ten years, amounting In the
case OF ships OF over eight thousand tons to
% a mile for the outward voyage.
The two systems are intended to cooperate.
but not In tho case OF the same vessel. That
IL to say, ship drawing money from the
United States Government for carrying
malls would not be entitled to an additional
bounty under the general provisions OF the
Shipping League bill.
Mr. FRYE announced that to his certain
knowledge, II the bill becomes law, " a line
Of the best ships In the whole world will be
put on within three years between New York
and Liverpool"
We should regard this as q safe prediction.
Let US see how the measure would work In
the case OF an American company despatch
ing from New York to Liverpool weekly
ako ,ebi ~ ba n1aaa ~ tha (itNy NJ paria
and the Majestic
The compensation provided for ten |
thousand-ton and twenty-knot ship Is Sc |
mile for the outward voyage. That Is $ls,- |
600, In round figures, for the trip to Liver
pool. With weekly service there would be
fifty-two outward voyages in the year, and
the subsidy paid annually to the company
by the Government would be $996,oO0.
II the company owning these tlrst-class
ships should not care for the glory and
bother Of carrying the United States mails.
but should merely avail itself of the benefits
ping League Tonnage bill, the income
from the Government would be Just the
same. Thirty cents ton for each thousand
miles sailed by a ten-thousand-ton ship Is
something over $4,000 q voyage between
|
year, with weekly service each way, to $780,
600 again. 1t would make no pecuniary diff
ference to the owners whether they carried
the malls or not, or under which Of the two
systems of Government bounty they op-
Grated their feet
Now, $3.50. 900 year Is five per cent. on $ls.- '
100000. or six per cent. on SIS 100000. or ten
per cent. on $s8eo.ooo. There js no doubt |
whatever that for less than the last-men- c
toned sum the four f1rst-class ten-thousand- 1
ton, twenty-knot steamships required to I
maintain the weekly service could be put /
upon tho ooeanI and tho company would /
start business with an income OF I
ten per cent on Its first Investment guaran- t
teed by the Government to Offset the dis I
advantages under which the American ship L
owner enters into competition with tho for C
eigner for the ocean traffic r
1t certainly looks as II either Of the bills II
reported by Mr.. FRYE would serve Its de- I
'lared purpose. namely, the enlistment Of T
American traffic in the shipping business. t.