Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-05


ing IN the worlds history, but six IN al
were turned out four in Great Brit
ain and two in Germany. But on Sep
tember 80. 1899. there we're then build
ing OF such vessels sixteen in Great
Britain and several in Germany
largely for our subsidy beggars.
Take two instances: Mr. Griscom, OF
the international Navigation Company
or American" Line, blouse Hearings
p. 25,) admits his company has eight
vessels of over 1000 tons and of speed
IA knots or above on which to collect
subsidy. At page 265 of the last report
OF the Commissioner of Navigation,
we find that of these eight, in Septem-
Der last four were constructing abroad
three not to be completed until
some time in 1901; also that the At
lantic Transport Company had then
four others under foreign construc-
tion-also that in 1898, this last named
company built abroad FIVE steamers OF
over IA knots speed, averaging over
1000 tons gross register each-these,
with the four now building, being the
only ones of their vessels that are fast
enough to get the extra speed" sub
sidy.
Of T. Hogan & Sons feet of twelve
ships (aggregating $4,000 tons)
awaiting subsidy, seven (aggregating
81, 900 tons) were under construction
in foreign shipyards in September
last. The case was similar with two
(aggregating 9.400 tons) of Grace e
Co.'s fleet of six (aggregating 21,60O
tons).
The key to this energy is furnished
by Senator Frye, who explains (sen-
ate Hearings, p. . that in 1897 the
coterie behind this bill was organized.
In short, the object of this subsidy
bill is not to encourage the building
of ships which would not otherwise De
built; but further to line the pockets
of prosperous gentlemen, VINO, with
out subsidy, have already built or con-
tracted for the very ships to subsidize
which this bill is framed.
". Sham Patriotism.
The proposed guaranteed contracts
for building ships here are farcical.
For the great steel ships that are now
rapidly supplanting ali others, can be
built In this country cheaper than else
where in the world.
The only danger is: % Allowing
trusts to continue to charge American
shipbuilder higher prices Tor raw ma
terials than those at which they supply
foreign ones; (2) Such shipDuilders'
combine as. though ships are built
here cheaper, shall compel our ship
owners to pay more for ships.
There is no probability OF this, TN
less Gas proposed by this bilD ship
builders are either bought off by gov
eminent largess from insisting upon
their rights against the steel trusts,
or guaranteed, at rates to be fixed by
themselves, such an amount of ship
building that they can charge trust
prices, instead OF competing to build
ships at fair profit.
Again, sixteen voyages are permitted
in each year; even ii a United States
built vessel be assumed to draw sub
sidy upon only ten round trips Of
6,400 miles each, say $4,000 miles, this,
at the rate provided (21a cents per
gross per ton per 100 miles for 1900
miles on each outward and homeward
trip, and cents per ton remaining
distance) means SLAB per ton for eacn
voyage, say $14.30 per ton each year
and $143 per ton for the ten years per-
mltted. That is, i'll the case of ships
now having American registry, the ag-
gregate security exacted Tor new con-
struction within ten years, is but $3.50
per ton OF present tonnage, and this
security is little less than one fifty
seventh OF the amount of the subsidy
which the subsidy getter may have
fi,aax fro, ro tl,~
security can be enforced.
vi. Foreign Capital Admitted to
Subsidy.
While 100 per cent. American owner
ship is required to entitle vessel to a
twenty-year subsidy contract, there is
nothing to prevent prompt sale of this
interest to foreigners and the payment
of the subsidy during the whole
twenty years to foreign capitalists.
Indeed, by the proviso as to cor
porate ownership, it is contemplated
that present stockholders of corpora
lions owning subsidized shipping shall
be enabled to realize" at once by SELL
ing it abroad-the bounty of our gov
eminent thereafter to go to foreign
owners. See Senate Hearings, p. 49,
Senator Elkins: g.. Now that cor
poration might be made up of citizens
of the United States, and incorporated
under the laws of the State of New
York or West Virginia, or your State,
and yet all the capital be held in Eng
land"
Mr.. Edmunds Counsel for promo
ton of bill: THAT is perfectly true"
VII. Shipping Industry Prosperous
without Subsidy.
President Mckinley, in his speech at
the Chicago commercial banquet on
October 10, 1899, said:
Our shipbuilding has been greatly
increased. Our tonnage in
creased during the year 100000 tons.
and is without a parallel in our re-
cent history. More large ocean steam
ships are under construction in the
United States than ever before. Our
shipbuilding plants are being enlarged
and new establishments projected"
From Marine Review" (Cleveland),
February 8, 1900. is clipped:
Newport News, Va, has assuredly
had it's full share of prosperity during
teh past year. The aggregate value of
the new vessels and repair work done
within the twelve-month has never had
a parallel in any single yard in the
history of American shipbuilding
VIII. Constant Discrimination
Against Public Interests.
The Secretary of the treasury is to