The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1900-05-19
ENGLAND'S MAINSTAY
Her Shipping Makes Good Big Ad.
verse Balance of Trade.
The Head of the Cramp shipbuildins
Company Gives Some Interest,"
Ing Facts for Congress TO
Consider.

Four generations of the Cramp fam
lily have in succession contributed to
their present prominence in American
shipbuilding. Their Philadelphia ship
yard now ranks in extent and output
with the best in Europe, it's product
being always regarded as unexcelled in
finish and efficiency. Mr.. Charles II.
Cramp is the present head of the fam.
lily and it's shipbuilding company. On
this account, and the weight of author
ity given to his utterances on the SUBJ
ject of shipbuilding, as well as the
probable early passage of the shipping
bill, what he says is of timely value.
"Great Britain's imports in 1897"
said Mr.. Cramp. when asked for brief
statement, exceeded her exports by
$7SO, O00, 900, which is the largest adj
verse balance of trade in British his
tory. How does she make it good?
Chiefly through her vast shipping. Let
me explain: At the last meeting of the
directorate Of the Peninsular and
Oriental Steamship company-the lar
gest in the world, by the way-its pres
ident placed it's average earnings at $50
per gross ton, and which, in view of the
competition to which it is subjected,
may be regarded as the minimum per
ton earning of British steamships. In
formation from other authentic
sources indicates that the average
earning of the entire British steam
feet, consisting of 1910, COO tons, will
not fall short of $40 per ton per year.
The British steam fleet, therefore, an
nually earns S5O0,OO0,O00 year. Her
sea-going sailing feet, consisting OF
2,735,976 tons, earns between $45 and
$50 per ton per year, or say in the ag-
gregate $130,O0O, 900. The annual prof
its of banking, commissions and insur-
ance in connection with this shipping,
are about IA per cent. of the traffic
earnings. This shows: Steam fleet
earns 100000 600, sailing fleet earns
$3.50, 100000, and other profits on ship
ping amount to Sos, 200 ,000-showing n
total annual earning from British ship
ping of S69s, 2OO,O 900 year, say in round
numbers $7e0,OO0,OoO.
1.-THE earning of her shipping, it will
be seen, nearly wipes out Great Brit
aims adverse trade balance" continued
Mr.. Cramp, land her revenue from for
eign investments far more than ex-
ceeds the difference.
"Of this colossal revenue" concluded
Mr.. Cramp. "the United States contrib
utes little more than two-fifths di-
rectly; or, in other words, the produc-
ers and consumers of the United States
pay to British shipowners not less than
$3.50 COO, oH year as the common car.
riers Of American commerce to and
from all parts of the world"
Congress is therefore confronted
with the necessity of relieving the
American people from the annual
drain Of $3.50. 100000 now contributed
by them for the employment and per-
manent enrichment of Britons. 1t is
conceded by all, and the president and
his cabinet are emphatic on the sub
ject, that the only way Of overcoming
this adverse and dangerous condition
is for congress to speedily come to the
aid of American shipping. The pas
sage of the shipping bill, the pro-
visions of which are in perfect accord
with the urgent official recommended
tions of the president and the secre-
tary of the treasury, and which bill has
been favorably reported from the COM
mittees to each branch of congress
will revive American shipping in the
foreign trade and lead to the eventual
retention at home of these vast mil.
lions, the foreign .outgo of which
drains us of our gold or its equivalent
in orr prOductS