The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1900-03-06
COMBINEOF TRUSTS, BY TRUSTS, FOR TRUSTS
The Hanna-FryPayn Bs-They Drip" With Philanthropy
and Patriotism-Real Objects of the Capitalists Who
Have Framed the Bill to Fit Their Shps-Ocean
Shipbuilders' Waiting Only for Subsidy

are either bought off by government
largess from insisting upon their rights
against the steel trusts, or guaranteed,
at rates to be fixed by themselves, such
an amount of shipbuilding that they
are charged trust prices, instead of
competing to build ships at fair profit.
Again, sixteen voyages are permitted
| in each year: even IL a United States
vessel be assumed to draw subsidy up
on only ten round trips of 6,400 miles
each, say $4,000 miles, this, at the rate
provided (2h cents per gross per ton
per 100 miles for 1900 miles on each
outward and homeward trip, and two
cents per ton remaining distance) means
| $1.43 per ton for each voyage, say $1430
per ton each year and $143 per ton for
ten years permitted. That is, in the
case of ships now having American
registry, the aggregate security exacted
for new construction within ten years
is but $3.50 per ton of present tonnage,
and this security is a little less than
-fifty-seventh Of the amount Of the
subsidy which the subsidy getter may
have drawn from the government before
the security can be enforced.
v. FOREIGN CAPITAL ADMITTED
| TO SUBSIDY.
| While 100 per cent American owner
ship is required to entitle vessel to a
20 year subsidy contract, there is moth
ing to prevent prompt sale of this in
terest to foreigners and the payment of
the payment Of the subsidy during the
whole twenty years to foreign capita
lists.
Indeed, as to the proviso as to cor
porate ownership, it is contemplated
| bn ctn pp
tions owning subsidized shipping shall
be enabled to realize at once by selling
it abroad-the bounty of our govern
ment thereafter to go to foreign owners.
See senate hearings, PIP. 16:
Senator Elkins: "Now that corpora
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 England"
Mr.. Edmunds: Counsel for promo
ton of bill.) "That is perfectly true"
VI. SHIPPING INDUSTRY PROS
Porous WITHOUT SUBSIDY.
President Mckinley, in his speech at
the Chicago commercial banquet, on
October 10, 1899, said
"Our shipbuilding has been greatly in
creased. Our tonnage increased during
the year is 100000 tons and is without
parallel in our recent history. More
large ocean steam ships are under con-
struction in the United States than
ever before. Our shipbuilding plants
!; are being enlarged and new establish
: ments projected"
| VII. CONSTANT DISCRIMINATION
AGAINST PUBLIC INTERESTS.
: The secretary of the treasury is to
: contract to pay subsidy for twenty
: years or more and there is no condition
under which the government can COM
) mute, much less get released. AS to
t the vessel builders, however, it is pro-
: vided: But If it shall happen that any
such new vessels shall, without any
l fault or want of diligence on the part
E of the owners. fail to be built and
] registered as required the
t secretary of the treasury shall extend
:, the time (for building) for such period
3 or periods as shall seem to him to be
: just.
Under Sec. 5, government is to pay
= subsidy as per speed test; (this is on
the corresponding assumption that fast
costs more than slow steaming.) But
: under this bill, this same ship, in earn
= ing high speed subsidy, can actually
e finds most economical.
: In the deep sea fishery, the vesse
t owner is paid his yearly subsidy even
t though the vessel may have been en-
:. ployed three-fourths of the time outside
e of this industry, or laid up idle; while
= the petty bounty of American sailor:
|, is limited to "S1 per month during the
time necessarily employed"
e VIII. NO INCREASE OF SHIPPING
If Mr.. Fitzgerald, of Massachusetts
Is "How much money, Mr.. Griscom, woulC
: your company, ("American Line" etc
z receiver"
Mr.. Griscom: about one million fou
S or five hundred thousand dollars, Eek
pert calculations show this to be NOR
If nearly two millions five hundred thou
5, sand dollars) but we would have t
relinquish to the government the $3.50,
IA 900 we now get"
= Mr.. Fitzgerald: "That would max
- how much?"
1t Mr.. Griscom: about 0,OOO"
l. Mr.. Fitzgerald: you say ne
g proflt?"
y Mr.. Griscom: "I didn't say profit.
re said compensation. Compensation goe
toward equalizing the extra cost of run
y ming under the American flag"
3 Mr.. Griscom: "If the full subsid
lie permitted by the bill is bare compensa
he tion, as asserted then it is no en-
4 couragement whatever to any increas
20 of shipping. Indeed to any extent tina
70, the 100000 limitation reduced tn
IN subsidy paid below the full rate allow
al ed, these subsidy beggars coul
ly not afford to run as many ships as the
do now"
Ill TX. GREAT TRUSTS BEHIND SHIl
Of SUBSIDY SCHEME.
De The lions share in this scheme is hel
Oh by interests that can be named on tn
Ut fingers of one hand. The coterie be
d hind it are the leading trust interests G
ze the country.
AS to the prime movers, Mr. Griscom'
company, the International Navigatio
or company or american" line, will b