Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-12-21
PURCHASE BILL
HAS OPPOSITION
IN BOTH HOUSES
Measure Favored by President
Wilson 10 Buy Ships Not
Likely to Pass at This SeS-
sion of Congress.

srtciAL coHrrsPonosNcs TO aaaniNo jounrslt
Washington, Dec. 2O-The course
of the ship purchase bill, one of the
recommendation of the president, is
.beset with difficulties. According to
Senator Gallinger. all the republicans
VIII oppose the measure. and they
will be Joined by many democrats.
Indications are that 1t cannot be
passed in the present shape, II at all,
by this session. The democrats are
lopposed TO il because it provides the
opening wedge for government own
ership.
There is also a growing sentiment
in the house against the proposal to
undertake the government owner
ship of ships Immediately following
the passage Of a war revenue" bill
(which levied taxes of 100000, 900 on
the nation. Representative Kitchin Of
t, North Carolina, who is slated to sue
coed Representative Underwood as
majority leader, is one of the strong
members opposed to the ship-pur-
chase bill. His theory is that II the
government is to go into the business
of transporting freight, 1t should char
ter, rather than purchase its ships.
Republican members generally feel
that the United States will invite in
ternational trouble IL 1t attempts to
carry freight. to any countries except
those of South and Central America.
A number of the republicans might
vote for a ship-purchase bill carrying
these restrictions but the minority
membe are against a governments
ownership scheme committing the
United States to undertake a general
freight business.
Provisions of the Act.
The ship-purchase bill before the
senate is identical with one irtro-
duced in the house last session. 1t
provides that the government,
through a shipping board composed
Of the secretary of the treasury the
postmaster general and the secretary
of commerce, may subscribe to the
capital stock Of any corporation now
or hereafter organized under the
laws of the United States or Of any
states thereof. for the purpose Of pur-
chasing. constructing, maintaining
and onerating merchant vessels in the
trade between the Atlantic. gulf or
Pacific ports OF the United states ana
the ports of Central and south
America and elsewhere, to meet the
requirements Of the commerce oil the
United States.
The capital stock shall be divided
into shares of the par value OF $lVo
but the shipping board, with the APP
proval of the president, may consent
"a ar cause the capital stock to ne
inerea sed from time to time as tne
interests of the corporation may re-
quire.
The capital stock shall be divedeo
info share of the par value OF $ivo,
and the United States shall supscripc
For ri per cent df the stock ana lot
= like ner centum Of every increase,
ana the remainder shall be olierea
for public subscriptions The uhiteo
ctates may. however. subscribe at par
- an amount of such stock not sub
scrlbed for by the public. the corpo-
ration may begin business as soon as
The 81 per cent of the stock IS SUP,
soribed and paid for by the uniteu
States.
THE United States, through me
shinning board with the approval OF
me president, may purchase or con-
s,ruct vessels suitable to carry on.
,sa nurpose of such corporation ana
40 40 ansfer them to such corporation
''nan terms and conditions, to ne pre-
s apI BY the shipping board.
The secretary Of the treasury. upon
j, me reouest Of the shipping board,
Wv ;ssue and sell what are known
n'a panama canal bonds TO totai
aS ,,,o,,nt not to exceed so,ooo'ooo lor
~ purpose of purchasing or co"-
st CTR such vessels.
: 1Tnon the transfer Of the vessels 70
s,eh corporation. the corpo p ..' y
T ,s,, ,ssue 10 the United States IN pay
s''aa, therefor its gold bonds bearing
' n's. at not less than per Gem
my s 80 such bonds TO constitute
per frs s lien upon the vessels SO trans rams,
a a ~, and all other properly OF surn
ier. .','ra s ion The bonds shall not pc
,ees lin IN amount at their par vaiue 'na'