Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-03-06
THE POLICY OF SUBSIDY.
How the shipping Bill Scheme Would
he Worked for Private
Interests.

To show how the mind of the sub
sidy seeker works, it is worth while
to consider some statements made by
Alex. II. Smith, subsidy promoter, e IN
ployed as lobbyist by the shipping
interests. Mr.. Smith has edited what
he calls a synopsis of a Report on
Steamship Subsidies, Submitted by a
Select Committee of the British Par
lament, August /, 1901" and Mr..
Frye has had it printed at govern
ment expense.
Mr.. Smith quotes from the testi-
mony taken by the parliamentary
committee, such extracts as seem to
him most telling in favor of subsi-
dies. He dwells fondly upon the pol
icy of subsidy carried out by the
French government. Referring to a
statement to the effect that France
pays the profits on capital invested in
French shipping, he comments:
1.-The sentence is n that may well
stagger the British, while disclosing
the serious determination of the
French government in its maritime
policy. The capital being guaranteed
by the insurance and the profits by
the navigation bounties.' What will
prevent French maritime success, Sc
Fortified"
The fact France has not succeeded
in creating a merchant marine, by
her enormous bounties, leads Il to
suspect that there are some causes
operating to prevent French mari
time success"
Mr.. Smith gloats over the testi-
mony, showing that the French gov
eminent pays from II to so per cent
of the gross earnings of French yes
sells engaged in oversee commerce
and that, without the subsidies, ships
would be run at a loss of from ) tt
16 per cent. per annum.
The French policy is the kind en-
Enthusiastically approved by the sub
sidy %grabbers, and indeed by protec
tionists generally. They think it j
only necessary to show that an in
dustry is Improbable in order t.
have a lien against the government
for bounty. They come now as hun
BILE beggars. praying for a morsel-
a paltry 5000, 00O--from Uncle Sam
abundance. 1t requires no gift o
divine prophecy to picture the ms
tory of shipping subsidies, once TIL
policy is inaugurated. The expert
ence of France and Italy so frequent
ly held up by Mr.. Smith and hi
friends as shining examples of tn
benefcence of the bounty system
, furnishes us with abundant materit
with which to construct a forecast G
the future. Depending upon govern
ment aid, ship owners will engage !
improbable ventures and then con
plain that they are being ruined b
$ the competition of French Ship
: They will rant about the penuriou'
f ness of our government in refusln
t to make good the losses of patriot
e citizens who unselfshly engage
trading ventures hat any Idle
G knows will yield nothing but a b
q deficit. They will demand that II
United States be not less liberal tina
other nations in giving aid and con
fort to these unselfsh patriots, WI
lose money in carrying IL flag c
n the seas, in the expectation that Il
government will pay them 80 p'
cent. dividends; and they will er
with a solemn warning that unle
the United States wishes to take
back seat among the great nation
It unless we wish to hire other peop
.e Cat half the cost to carry our pro
l. ucts, we must pay as big subsidies
# the French-ROYAL MEEkER.