Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-10-12
SECRETARY URGES ADVISABLE.
lTY OF SUBSIDY FOR AMERl-
CAN MERCHANT MARINE.
LOOKsINTO THE FUTURE
Iowan Says That the Time Is Coming
When America Must Increase Her
Markets and Points Out the Way
to Do it--Answers CRITICS and pc.
fends His Plan.

tends His Plan.
Washington, D. c., Oct IL. - The
thlrty-first annual convention of the
American Bankers association opened
here today with more than 1000 mem
hers present. During the welcoming
addresses and responses the mention
of President Roosevelt's name as sig
Eifying civic honesty was greeted with
hearty applause.
The convention enthusiastically
adopted resolutions thanking Roose.
velt for his action in bringing about
peace between Russia and Japan.
Secretary Of the Treasury Shaw then
delivered an address, which was large.
ly a plea for an American subsidy for
merchant marines. On this subject he
said:
"The time is coming, gentlemen
with our increasing population more
largely urban than ever, with factor
les multiplying more rapidly than
farms, with limitless manufacturing
resources and matchless aptitude for
production-when the United States
will need new and important markets.
The world may come to us in It's
own ships for the products of our
farms and the raw products of our
mines, but 1T will not come In its
own ships for the finished products of
our factories. The time is coming
when we will need international bank
ers and international merchants and
and international merchant marine.
II am we'll aware that this Is not
supposed to be q popular theme, but
did not accept your courteous invi-
tation for the purpose of discussing
subjects on which all good men agree.
accepted for the purpose OF bring
i ing to your consideration questions
4 which public speakers usually avoid,
to the end that you may think them
Z, over, talk them over by your fire.
sides and in your places of business,
in the hope that we may some time,
and as soon as possible agree upon
some course, some policy, that will
restore our flag to her deserved place
on the seas and give American enter
prise its share of carrying trade Of
the world.
II am we'll aware that there are
some, and they are not confined to
any one party or to any one locality
they are prominent in both parties,
and are found on the shores Of New
England and on the prairies west of
the Mississippi-woh urge that we do
nothing more than gracefully surrend-
er portion of our $25,000,O 100000 OF
domestic commerce, and then, by
a logic which do not understand, we
will get SO much larger share of the
worlds $10,OO0,O00,000 export trade
as to fully compensate ourselves, and
that in addition we will make the
world happy. quite agree with them
that it would make our competitors
happy. But I will not discuss that
question. I desire to confine my re-
marks to the Importance Of mer-
chant marine.
"Over one hundred years ago con.
gress passed an act giving to the
American shipbuilder and the Ameri.
can shipowner a monopoly of our
coastwise trade. Since then political
parties have passed into forgetfulness
and others have come and gone. Ad.
| ministratlons have changed again
> and again, but that old law still re-
: mains intact. 1t has often been as
j, sailed, but no party has dared to re-
peal it. 1t, therefore, has the stamp
of non-partisan approval AS result
we have the largest and cheapest
coastwise trade in the world. The De-
troit river floats more tons OF Amert'
can freight than all the foreign com.
merce that enters London, Liverpool
| and New York City combined, and
under every ton isfa ship built OF
r American materials, by American
: workmen, owned by American capital,
operated by American enterprise, and
over every pound floats the stars and
stripes. This country certainly
possessed some measure of states.
manship in the days of James Madi.
, son and wisdom did not die with the
fathers or the law ere this would have
been repealed.
practically half century ago the
present minority party inaugurated,
and the present majority party adopt.
ed, policy of liberality to the pro-
moter 1t gave subsidies of money,
or subsidies of land, or both money
and land, to encourage the construc'
ton of translate and transcontinent.
al railways. The Union Pacific, the
Southern Pacific and the Northern
Pacific railroads each received govern.
ment aid. These roads opened an
empire of matchless resources, and
here our ever-increasing population
Z found ample room and abundant op
:. portunIy. They improved farms
developed mines and built states
/ Welding comm cree which has made
S these roads in turn self-supporting, SO
a that no county, state or the general