Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-01-24
An Experiment Greatly Needed.

When England foresaw that the iron
steamship was to supplant the sailing
vessel she sacrificed her millions in
vested in sailing vessels and went TO
building iron steamships, and for
twenty-five years she paid more than
- per cent. out OF her treasury upon
the capital invested in every iron ship
she possessed and from lS4S to 1882,
" lille this experiment was going on.
she paid in subsidies more than Sls5-
600. 600. to which was added $1,000, 900
paid 10 her by the United States for
carving our mails. one hundred and
sixty-nine millions seems like an enor-
nous sum 10 pay for the encourage
ment OF single Washing
ton Post.
II may be added as an instance of
her policy that when England wanted
t. support and extend her trade with
the East she did not hesitate To grant
to the Oriental Steam Navigation Com
pany a subsidy equal to % per cent. of
it's paid up capital. which meant an
annual grant of s.. 900. 600, with addi-
tional guarantee that whenever the
income of that company should fall pe-
low per cent the subsidy should be
increased half million dollars. All
Of which excited no great apprehen-
sions among our Anglo Saxon friends
across the water. accustomed as they
are to jealousy guard their expendi-
lures.
All this the American ship owner
has had to contend against. Well may
the country hope that some sort of re-
lief may be afforded him. Wherefore
ii is gratifying to hear that the sub
sidy measure before Congress has been
licked into such shape that the ma
jority are willing to give it support
AS the bill is now presented. if the
vessels were built before Jan. l. 1900
years; if not built until after that date
for fifteen years. instead of twenty
| years. The rates of compensation
vary from one and one-half cents per
gross ton for every hundred miles
| sailed in the foreign trade up to three
! and one-tenth cents according to
capacity and speed. the highest
amount being granted TO vessels of
| 1000 tons and eighteen knots. Originally
an additional compensation was to
be given to vessels of over eighteen
knots. but this provision is cut off
Oil-tank vessels are precluded. To
secure the compensation, vessels must
| clear with cargo of at least fifty
per cent. of their carrying capacity.
| Foreign built vessels owned by Amer
| leans and admitted to American regis
| try are to receive compensation at the
rate Of 30 per cent. of the foregoing
| rates. But the number of such for
| eiGn-built vessels is restricted to four
for each owner for each class-that
ess of construction-provide also that
for each foreign built vessel thus ad-
| iii'ttu tiit oNiiti Silili contract TO
| build vessel of the same tonnage in
| the United States within the next ten
| years. Likewise owners of American
| built vessels already in existence and
completed if receiving compensat ton.
must build within five years new YES
sells aggregating at least % per cent.
| o. the tonnage of those vessels already
| built. 1t is provided that the total
annual compensation shall not exceed
| 81, 900. of which not more than
81 900 900 is for the Pacific coast foreign
| trade and that if the compensa ton
earned exceeds $1,000 900 the excess
shall be deducted pro rata from the
| compensation due to each one earning
/ the same. At least one-fourth of the
crews must be United States citizens
American vessels engaged in the deem
sea fisheries for three months an
rually shall receive bounty Of 81 per
J gross ton. provided at least one-tbird
of the crews shall be United States
citizens and such citizens shall receive
> bounty of 81 month during tba
voyages. All vessels under the act