The Washington times., 1905-10-12
IN BANKERS ASSOCIATION ALMOST UNIT FOR THE SHIP SUBSIDY BILL
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Continued from First Page.)
Whereas. this is to the great disad-
vantage of the people of the United
States from the viewpoint Of proper
econmy IN the conduct OF business. be-
sides greatly detracting from our ma
tional prestige and pride.
And whereas the opening of the Pam
port to the commerce of this country and
VIII render even moro necessary than at
present the building. of more ships TO
markets OF tho world;
And whereas the passage of ship
subsidy measure on the part Of this
Government would be a substantial en-
couragement 70 shipbuiiding and be a
long stride 10 the upbuilding of n strong
American merchant marine TO carry our
freight and mall direct from all our
ports to foreign ports;
Would Help Labor.
And whereas It is necessary for the
maintenance or our national prestige
among the civilized nations of the world
that we do not allow our flag on mer-
chantrncn to become well-nigh ex-
tinct upon the seas.
And whereas the building of ships,
thus encouraged by Government subsidy.
would mean employment to skilled labor
as well as common labor and would give
The purchase OF all supplies necessary
for the building OF these ships; therefo-o
be IL
Resolved by the American Bankers
Association assembled
First. That the members of this as
socl2tion are deeply interested in any
Of the whole country commercially and
industr.aily. and especially with refer
ence to our foreign commerce.
Second. That we favor and most re-
he Cf,rayr q
OF some measure to foster and encourage
tho upbuilding of our merchant marine.
and give Us back the prestige upon the
hiFh seas which we once enjoyed
Third. That we favCr the ship sub
sidy measure, which has received consid-
Grafton by Congress. which, We think.
seas. and build up our merchant marine
20 the extent that the necessities OF our
trade now. and in the future, may de-
mand.
Fourth. That we recommend ttisss.. ooiTT oo;iiTT
Senators and Ccngressmen favor some
just and equitable measure that Il
bring about the results and anord the
relief above suggested.
Fifth That through our legislative
committee we memorable the Senate and
the House of Representatives of the
United States with copy OF these
resolutions"
Scarcely had the reading of the reso-
lutions been completed when they We're
seconded by delegates from all parts Of
the house. There could be no question
of the temper of the convention.
Colonel Lowry spoke briefly in favor
OF the plan he urged.
Important to Banking.
There Is no proposition that can come
before this convention" he said. ''of
more importance to the banking inter-
ests of the country than that embodied
IN these resolutions The commerce Of
the nation is dependent in large part
upon the shipping OF the nation and a
great merchant marine, carrying the
American flag over every sea to every
cline, will operate more potently than
than any other agency to increase the
prosperity of the whole people
I'VE should see our flag everywhara-
IN every port American products should
be carried in American bottoms We
bankers should aid all we can the ef-
fort to attain this great end, for we
feel Immediately the general prosperity
and the general depression. The aavan-
tages OF ship subidy were pointed out
dress of sthe Secretary of the Treasury
To the cogent and convincing arguments
he advanced there is nothing -eaa add.
Cannot Compete.
I'VE cannot compete in the ship
building, or even in the operation Of q
merchant marine, with countries of the
old world unless we aid the enterprising
spirits that lend capital and energy to
the enterprise. The ship subsidy bill
should pass and we should help to make
* pass. i trust this convention will give
its emphatic Endorsement to these reso-
1utions"
Mr.; Fletcher secured the floor in op-
position He Is OF the patriarchal type
long. white hair and beard giving him
q quaint and venerable appearance. The
convention heard him with respectful
1. good nature. but IL was apparent that
attention was given the man and not
the arguments he offered in opposition
TO the resolutions.
THE country does not need ship SUBJ