The Birmingham age-herald., 1902-11-14
DETAILS OF THE LARGEST
 STEAMSHIP COMBINE

the peace of nations. Tn the event of war to which the United States was not a party it's existence suggests unusual possibility. A war involving Great Britain with a continental power might imperlI much American property at sea under the British flag war between the United States and Great Britain might place our warships in the peculiar position of cap turing as prizes of war British steamers in which our own capital was heavily in- vested In the event of war to which two of the three nations are a party, the German agreement provides for a sus- pension during hostilities. While contin- geneies of war are remote, the conditions raised by this merger lend weight to the argument for the exemption of merchant ships from capture in time of war. Presi- dent Mckinley, in his message four years ago, recommended an International agree ment making all private property at sea exempt from capture or destruction by the force of belIigerents, Just as private property on land is generally exempt. Contraband of war would of course be excepted, as well as blockade runners.
 The average amont of new tonnage built annually for the combined steam ship. companies has. been 9s,0oO gross tons since 1898. This amount is not beyond the annual capacity of the one concern which has the exclusive privilege abroad for building steamers for the organiza- ton. The new corporation will become the largest single purchaser of new steamers for the transatlantic trade. If any part of its future orders is to be placed in this country, the American cost must no more nearly approach the Brit ish than in the prices recently quoted, or, MT. Chamberlain adds. "the difference must be made good in some manner. The cost of operating steamers does not enter into the ship-building question, because u would be perfectly feasible to build steamers in the United States and trans fers them to foreign registers if building conditions were equal. The materials for building ships for foreign trade are free of duty, so that the tariff does not enter into the ship-building question"
 The new corporation will begin opera tons during the current fiscal year. Mo nopoly of ocean transportation, the com- missioner adds, can be acquired only through complete control of terminal fla cilities ashore. Such control Is imprac- ticable in a country with so many har- bors as the United States. Since the pol icy of the maritime nations brought about in the first quarter of the last century, largely through the efforts of John Quin- cy Adams, the seaports of all countries have been open to shipping under all flags on terms of virtual equality. There is not only no natural monopoly of ship ping in foreign commerce, but no suc- cessful attempt at monopoly. MT. Cham berlain maintains, is feasible under the law, without a complete reversal of the policy of maritime nations. Efforts to secure an increasing share of country's carrying trade for any given organization are, of course, entirely practicable An instance is related of recent agreement between British and German steamship companies regarding the South American trade, Certain British lines agree. to withdraw from the trade between Ger many and South America. and in return certain German lines will withdraw from trade between the United States and South America.