The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-22
Transatlantic Steamship Line Merger
Viewed with Alarm by Some of
the London Editors.
MENACE TO GREAT BRITAIN
BECAUSE 1T IMPERILS HER sUPREM-
ACY OF THE SEAS,
Threatens to Involve Her i'm Overcap-
jtaIization Disaster and May Leave
Her Helpless in War.

LONDON, April 22.-The morning papers
discuss the shipping combination with con-
siderable difference Of opinion. While the
Daily Graphic and the Daily Mail display
comparative unconcern in the matter, the
Graphic believing that, beyond increasing
rates, and, perhaps, checking the growing
speed and luxury of the Atlantic passage,
the combination will have little effect, the
Daily Chronicle and the Daily News see the
utmost danger ahead, and anxiously warn
the British public to beware.
The Chronicle, emphasizing the tremen-
dous economic difficulty facing the nations
In the growth of gigantic monopolies.
against which even forceful man like
President Roosevelt is practically helpless.
declares the shipping combination lis a
menace almost to our national position
and points out three grave considerations.
The first is that the supremacy of the Brit
ish mercantile marine is practically annihi-
lated. The second is that there is good rea-
son to believe the Morgan party was
forced into the shipping business in order
to save its other undertakings, and that
overcapitalization may some day bring a
collapse which would seriously involve
British trade, while the third considera-
ton the Chronicle declares TO be still more
momentous, though it believes it to be inf
nitey more remote. 'It is political ques-
tion,' says the paper. What would be
Englands position in the event of war
the idea that such a trust would promote
peace. and expresses the hope that the
good relations between the two countries
will depend on something more stable than
the selfish interests of utterly unscru-
pulouS ring of monopolists.
Discussing the possibility of the adop-
of he Ch thCi6 ind al
the vessels in the combinat ton TO fly the
American flag, the Chronicle asks what the
British admiralty is doing TO safeguard its
rights over the subsidized White Star line
cruisers.
The Daily News, in an editorial of sim
liar import. finds the jubilations OF the
American papers not pleasant reading, nor
does ii like the idea of gentlemen like ].
PierpOnt Morgan revolving in their minds
the future of such ports as Liverpool and
are very good friends with the United
States, but we do not want to be swallowed
by them. Doubtless the government will
meet the new situation by new enthusiasm
for a new Anglo-American alliance. We
admire this facility for making friends with
the prosperous, but we are inclined to think
our American cousins see through 1t. We
prefer the friendship of equal minds. If il
Is true that American capital will control
the combination the prospect bristles with
possibilities equally unpleasant both to
Germany and Great Britain. We are much
more likely to be good friends if Great
Britain wakes up and earns the respect of
the United States by friendly but effective
competition"
In the afternoon papers of yesterday at
tention is called to the "Morganizing of
the greater section of the Atlantic ferry
The Westminster Gazette suggests il may be
entitled TO the grave attention of the govern
ment as in some quarters 1t is insisted that
. the vital interests of the empire in time
of war may be jeoparcized by the new ar
rangement," and almost in the same breath
the paper rei,erates the argument used
when the combination was first mooted,
that it would be a powerful peace factor
between America and Great Britain, for
the great American financiers would find
it to their own interests to use their in
fluence against war between the two coun-
tries.
The Pail Mall Gazette thinks the arrange
ment gives the United States an enormous
pull on the Atlantic and that ii Is not cred
liable TO Great Britain that English steam
snip lines should be dominated by Ameri-
cans.