The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-09-10
American Shipbuilding.

american onlpDufiQ1ng.
It is one of the favorable signs Of the
times that the attention of investors Is
now being largely directed to the build
ing OF American vessels for the deep
water trade. The large amounts Of cap
itaI available for investment, the exist
ing low rates OF interest. and the fact
that deep-water vessels are now earn
ing large interest on the capital invest
ed In them, are among the exciting
causes for this movement. and the dis
cussion OF the revival of American ship
ping brought about by the proposals for
the payment Of subsidies has doubtless
had some effect in directing the atten-
ton OF capitalists in this direction.
The time is extraordinarily propitious
for the passage OF a shipping subsidy
bill. There is little question that the
immediate effect would be a boom in
bodybuilding such as the country has
never before witnessed.
The conditions which would follow
would be precisely similar to those cre-
ated by the imposing of a protective
duty on tin-plate under the Mckinley
bin. The Democrats in congress siren
uousiy opposed the proposition. and for
some years after the tin-plate factor
les were In active operation shut their
eyes to the growth OF the industry, and
In the teeth of existing facts, refused
to admit that the industry had actually
started In the country. or that the Unit
ed States. even with protection, could
possibly compete with Great Britain in
the manufacture Of tin-plate. Mr., Bry-
an. as a member Of congress. is on rec
ord as fatty denying the existence OF
tin-plate factories as commercial prop
osltions. at time when dozens of them
were in active operation. UT today
the tin-plate factories are manufacture
ing sufficient for all American needs,
are selling II in the market for lower
price than was ever known prior to the
introduction of the industry In this
country. and are saving to the country
annually $2s. 200 900 which previous to
the passage OF the Mckinley bill was
sent abroad annually for this single ar
tlcle. The Democrats have changed
their tone. and their denunciation OF the
fairfield trust. The old cry that IT
was fake political industry started
for campaign purposes has been aban-
doned. but not the Democratic opposi-
tion to the tariff which built 1t up.
AS with tin. 30 1t will be with ship
building. AS the tariff protection turn
ed the thoughts Of investors to the tin
plate industry, which had been previ-
ously disregarded or overlooked. so the
shipping subsidy bill viii turn the
thoughts and money OF investors into
shipbuilding and ship-owning. The
money which the government would
spend would be infinitesimai as com
pared to the money which would be dis
hursed to the labor OF the country in
ehipeuilding; ana when American ships
again carry American goods to the ports
OF the world the sum of $500. 0Oo. 900
which now goes annually into the peck
cts Of foreign ship-owners would re-
main i'm the pockets OF American clti-
gems. and IN the channels OF trade In
this country The experience In con
neetion with the tin-plate industry
would be repeated. only on an infinitely
larger scale.