The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-03-27
SEATTLE. TUESDAY, MARCH 27.
Need OF Ocean Carriers.

NCtu VI OStuh Nutf tSi D
The present high charters OF wheat
ships, due to the scarcity OF available
tonnage and the increase In ocean carry
ing In other branches of trade. is work
ing a serious hardship to the wheat
growers OF this state. and partially ac-
counts for the fact that. as estimated.
nearly forty per cent. of the last years
crop IL still in the hands OF the pro-
ducers. It costs an average of $3.50 per
ton more to transport wheat to the
United Kingdom than II did three years
ago, and as the average crop of wheat
in the Paiouse country will be ton to
the acre, the reduction In price due to
the high charters amounts TO sufficient
ito have paid fair interest on the selling
hprice of the farms.
The shortage OF available tonnage for
existing business on this coast affords
another and very strong argument for
the passage OF the pending shipping sub
sidy BILL All the additional steam ton
mage put afioat. when the provisions OF
that act take effect. will release for the
wheat trede a very much la-.e- ton
mage OF sailing vessels. in addition to
steam vessels constructed for grain car
Sriase. thus directly beneflting the farm
E.ors of this state more than any other
Nsingle class OF producers.
= 1t has been urged by the opponents
or the shipping subsidy bill that as ex-
listing freight charges are sufficiently
high to AFFORD large returns to vessel
owners and as there are enormous
amounts of money seeking investment
in the country at low rates OF interest,
the situation viii settle itself. and that
scapital will rush into shipbuildlng and
Nshipowning without the stimulus OF any
Nadded bounty from the government.
SThe theory Is pretty and apparently
Illogical one, but like many economic the
4ories OF like character evolved by book
Estudents and closet professors OF politi-
Mcal economy. the stubborn facts do not
sustain It. There Is no rush OF investors
into shipbuilding and shipowning. nor
does there seem any prospect OF such a
rush until some stimulus Is given TO the
movement.
The situation Is precisely the same az
presented by the tln-plate industry at
the time of the passage OF the Mckinley
tarlfr bill There was no tln-plate In
dustry before protection was given the
industry. although plenty OF men could
be found 20 advance the contradictory
theories. FIRST that tn-piatc could never
be made successfully In the country
and, secondly. tina, capital was ready
20 take hold of the industry as soon As
& proved profitable, and no government
encouragement was necessary. To-day
the country manufacture more tim
plate than II uses. and the industry owes
its initiation ana growth entirely e. the
stimulus u the protective tariN. The
old Democratic campaign cry about the
Outrage Of taxing the poor mans dinner
pail has gone into the llnbo ~ departed
political heresics.
tAttlc thought il given by these the
orists 20 the enormous aggregation 81
capital required 20 give this country q
standing ss carrier oven ~ its own
commerce, The wheat trade Will FUR.
nish an illustration. The average cost
pcr ton 20 medium sized dcep-,yate-
ships may b. put roughly at So The
avcraGp cost in this state % the land
which win produce a ton u wheat will
no, eNcecd 80. In other words. Il costs
twice as much fDr the vssscI % trans.
port wheoS g. maFke; as It DOS &. buy
the land GA Nshich % raise tho wheat
Twice as much capital "a required O.
be inyesiod IN transportation facilities
as In the plant for production u ths
exportaele surplus
Agaln. and this Is & point which ths
theorists overlook entirely. while onor.
nous amounts ~ capital aGe available
they arr available primarily for invest.
ments which have already proved Jheu
value: not In any great amounts for en-
terprises with which the investor is no
familiar. and the success of which seem,
more or less problematical. shipownin.
is at present very profitable; bu
whether II will remain 80 for a lopl
terms of years. sufficient to render
fair average return for the capital in