Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1901-02-07
ECONOMIC PROFESSORS ON THE SUB
SlOY SCHEME.
An Effort of the Subsidy Press Bu-
rcRu to Develop support Protea a
Boomerang.

. m EMORY OF the anbktuF FreAA Bm-
rcau 10 Develop support Protes
Boomerang.
The press bureau maintained rs the
subsidy bin lobby and their senatorial
confrercs has been doing heroic service
az late. For some time Mr.. Alexander
II. Smith, one Of the well known Nhoop-
ersup OF the ship subsidy propaganda.
has been the director general q this
bureau. Recently Mr. George W Rou-
zef, formerly the head Of the Wa3hipg.
ton bureau Of the New York Herald
and later the press representative ~
the Republican national committee. has
been given a high position on The staff.
His acquaintance with Washington
newspaper men as won rs with repre-.
sentatiycs and senators makes his scry.
ices very valuable lie is a high priced
man, but this is a high priced blu
This press bureau In branching out
for new Ecans 70 influence the public
and thereby the senate has lately sent
out letters 20 a number 81 college pres
idents and political economists asking
for expressions concerning the subsidy
BIN a number OF replies have come Ia,
bot they have not bssn printed Their
conclusions were on tho wrong side u
tho question.
For instance. Professor 4 II. Gld.
dings Of Columbia university 10 writ
Ing Of the blil said This h.lI believe
@ be thoroughly rotten plese or NOR.
~ aud political dcprayii I'll ii TT
fccily well known that tho United
States can build steel sbps be,ter aud
cheaper than any other nation There,
fore Il is difficult for even an unsophig
tic5Ssd mind to escape TIE inference
that the subsidy bin Is steal known
and Intended IA be a steal"
Professor May Smith Of the chair Of
political economy Columbia university.
said. There IL bo certainty that the
Necessary facIHties for export trade TO
countries offering tbe most desirable
markets for the Unlad States VIII be
secured"
Said Professor x. NJ. Macyaup If the
chair of economies aud history. Har-
ward university, m tie Republican
party wants 10 commit suicide, the
passage Of this ship subsidy bin would
be all that would be necessary"
Professor 4. ~ Carver Of Harvard
university said. owing to the develop.
ment Of the steel industry. this would
be the worst occasion for placing a
bounty on bodybuilding and the one
time In our history when II Is least
needed"
Professor Charles II. Hull OF the
chair Of economies. Cornell university.
said Such congressional ilictatlon
may be Ia some cases FOR tne iubIlc in
tcrest, but the presumption Is strongly
against It's being So In this particular
case have seen no argument of public
interest that seems 10 me strong enough
10 overcome the adverse presumption.
What forces Of private Interests are at
work the mere economist has no means
OF knowing"
Said Professor Daniel Of the chair OF
political economy, Princeton. 'In gen
eral, subsidies such as those proposed
are In my opinion, iudefenBIble."
Professor james w. Crook Of Am-
herst said. "Our experience is against
the efficacy OF such a system
Professor +. X. Jones of Union col
lege said mot one sound economic ar
gumcnt can be urged IN support OF The
ship subsidy bill. The principle Inyoly-
cd is species OF paternalism having
none Of the redeemlng features Of the
protection theory and oil Of Il falla-
cics"
These are but samples Of a large
number Of adverse opinions expressed
by college professors and political econ
omsts. They are men who have no
ships TO sell and no exports TO ship and
whose views are entirely unbiased.