Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-01-23

my own judgment | accepted ii. and
| the next year. YOU will recall. we
were compelled to p&Ss an act admitting
| the Paris and the New-Iork in order
| to give any vitality whatever TO the
| postal subsidy bill Of 1891. Since 1Ssi'95
| the American line has been running
without paying any dividends as our
committee has been repeatedly assured
| by MIR. Griscom The pending subsidy
bill in effect restores the rate of 81.
which will suffice to enable the colu-
pany to pay on those ships a dividend of
about 81. per cent. \ new obligation is
put upon the company to build in the
United States l20o0 tons in Tie form of
a new steamship or ships. So far as the
American line is concerned. the crti-
cisms of the bin appear to me to be en-
tirely without foundation, and | trust
that on reviewing the facts your iudg
ment. which | value, Will coincide with
my own that the proposition is entirely
fair
My views on the subject of admitting
foreign built ships to American registry.
as YOU doubtless know. are as positive
as your own When our committee
reached this phase of the general prob
lem We're met by the fact that the
few American steamship owners engaged
in foreign trade. almost without eNcep-
ton. owned steamships under foreiSn
flags or had contracted for the building
OF steamships abroad. These investments
of American capital. made much in adj
vance of the time. when the committee
had made even tentative draft of the
bill and made without regard to possible
legislation. we believed We're entitled to
some consideration. The foreign built
Paris and New York. under the acts of
1891 and 1892. are allowed to draw full
subsidy. The pending bill allows foreign
built steamships to draw only one-half
subsidy. the same condition Cnamely. the
construction of equivalent tonnage in
the United States, being prescribed as
Was prescribed when the Paris and the
York We're admitted.
| am somewhat puzzled by Your reit-
Grated request TO know whom the bill
would most benefit. 1t has not been my
practice in congress to vote sums of
money. large or small. from the public
treasury unless | believed | saw CORE
spending benefits to the people of the
United States. The individuals or cor
porations who will. in the first instance
receive the largest subsidies are those
who own the greatest amounts of ton
mage. and at the present time these. as
cation company. the Atlantic Transport.
Pacific Mail. and the New-Io and
Cuba Mail Steamship companies. They
will receive subsidies only in proportion
to the results they produce in the line
OF those public purposes for which you
ard l believe subsidies are proper and
ef1lcaeious public expenditure. In this
respect they are favored no more than
the owner of a SNty-fourth in one of
the small sailing vessels of my own
state. Indeed. on the arithmetic of the
subject. with which | shall not bother
You. I am disposed to believe that the
bill. if anything. is more favorable to
the sail vessel and the SLOW cargo steam
er. | have not myself any dread of
large corporations. steamship or other
wise. l know you have not and since
November am disposed to believe that
there is no such dread among the in
telligent masses of America.