The Montgomery advertiser., 1903-11-18
SPEAKS FOR SUBSIDY
SHAw's ARGUMENT TO CHAM.
 BIER OF COMMERCE.
Says Only Unprotected Industry is Merchant Marine-In Time of
 War the Effect will ... Be Shown.

New York, Nov. 17.--The iS5th annual dinner of the Chamber of Commerce was held tonight at Delmonico's, Morris K. Jessup, President of the Chamber. pre- siding with Secretary of the Treasury Shaw on his right and Governor odell on his left.
 The lists of toasts was as follows: "The President" His Majesty. Edward VII" Our Merchant Marine" response by Hon. Leslie M. Shaw. Secretary of the Treasury; The Senate of the United States" response by Senator William B. Allison; The Army" response by Lieu tenant Generel s. B. M, lserngy cThe Navy" respoliss1 by Rear Admiral fred, erick Rodgers: Capital and Labor," fe. sponse by Rt. Rev. William C.. Doane, Bishop of Albany; 'The Commercial Im- agination." response by Rev. Donald Sage McKenna. D. D.;i Arbitration as a Means for the Settlement of International Disputes" response by Thomas Barclay, ex-President of the British Chamber of Commerce in Paris.
 A letter from President Roosevelt was read in which he said;
 ''No body of. men can render a greater service not only to the American business world but to the American body polite, than has been rendered by the Chamber of Commerce. Tho true idea of this coun- try Is that, hand in hand with its mate- rial development, there shall go a high and fine sense of responsibility to the House on the part of those whose power and ability enable them to take tine lead in this material development. It is the good fortune, not only of the State of New York but of all of our people that we can conscientiolsly say of the Cham ber of Commerce that among its members we have found to an unusually high de gree this combination of great business ability with the spirit which practices and demands integrity fin public and pri- vate affairs alike"
 Secretary Shaw spoke in part as fol- lows:
 'The only unprotected American indus try is its merchant marine. An act of Congress approved by George Washing ton and never repealed, though frequent ly assailed, gives the American ship builder. the American shlpwright, the American ship owner and the American flag a monopoly in our eoastwise trade and we have not only the most efficient service but the cheapest coastwise rates in the world"
 The Secretary continued: without at- tempting to give the reasons therefor. content myself with stating the fact that forty years ago we had only one-fourth as much foreign commerce to transport as we have now, yet we actually carried in American bottoms forty years ago three times as much foreign commerce as we carry to-day. These conditions may be satisfactory to you. They seem to be satisfactory to many. But they are not satisfactory to me. I am not ignorant of the argument that if foreign coun- tries are willing to subsidize ships to carry our freight 1t inures to our advan- tage This might be sufficient excuse for our supine indifference if there were no other consideration involved than merely carrying our freight across the Atlantic ocean in times of peace. Unfor- tunately, however, there are many other and weightier considerations.
 If war were to be called between any two of the great Powers of Europe our foreign commerce would be not only helpless, but hopeless.
 "As certain as the world revolves the time will come when our people will give more heed to securing respectable share of the trade of South American repub- lies, South Africa, the islands south of the equator and the countries washed by the Pacific ocean.
 q am not contending for ship subsidies if any more feasible course can be de- vised. But if ship subsidies will insure us a merchant marine then I am for shin subsidies. If some other measure will insure a merchant marine, then I am for some other measure. If several measures combined will insure a mer- chant marine then l am for als such measures.'