The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1914-08-28
WAR RISK INSURANCE.
{ Manufacturers Record

wa" MON INSURANCE.
{ Manufacturers Record.)
Bringing optimistic views as to the
probability Of relief in the near future
from the depressing effects of the Eu
ropean war on the commerce and trade
OF the United States, J. A. G. Carson
vice president of the Savannah Board
OF Trade, has returned to Savannah
after having attended the National For
eign Trade Council in New York and a
conference of business men with heads
OF government departments and com.
mittees of congress in Washington
Mr.. Carson said:
Undoubtedly if proper steps are
taken now to keep American com
merce and trade afloat during the pres.
ent war in Europe, there will come, at
the end of that time the greatest boom
of general business conditions in the
United States in the history of the
nation. The two most important needs
to assist in tiding the nations Grip.
pied commerce over the present crisis
are war risk insurance on ships flying
the American flag, and bill which will
allow American owned ships which are
built in foreign ports to register as
American vessels and fly the American
flag.
plans to induce the government to
establish war risk insurance bureau
to insure American cargoes and Ameri.
can ships in neutral waters were ad.
vocated by many, and the absolute
necessity for such action was conced-
ed by many. The government of Great
Britain now insures at premium all
British vessels against war risks while
in waters of neutral nations, and finds
it not only safeguard to the shipping
but also a profitable business.
"As to the proposed law to allow
American owned foreign built ships
to fly the American flag, this question
was given considerable discussion, and
was held by many to be a great es-
sential step toward relieving the stop
page of American oversee commerce
by the European war At present there
are a number of American-owned ships
which were built in foreign ports. IN
der the present law they cannot reg
lister as American ships nor fly the
American flag. Because of this many
of these ships are flying the flags Of
nations which are now at war;"
Mr.. Carson said that during the early
part of the meeting in New York it
was alleged that for long time South
ern senators had killed every attempt
to amend the shipping laws so as to
restore the merchant marine of the
United States. This matter was dis
cussed widely, he said, and before the
end of the meeting sentiment had
changed greatly.
The National Trade Council, which
was held in New York, was attended
by many of the biggest business men
in the country, representatives of the
National Chamber of Commerce. cham
bers Of commerce of the majority Of
the biggest cities of the country, clear
ing houses and shipping interests. The
conference called by Secretary Nc
Adoo was held before Secretary Hous-
ton. Secretary Redfield and the entire
regional reserve bank board. The
meeting was held behind closed doors.
The questions discussed at this confer
ence was confined to the following
three matters: War risk insurance on
American ships and cargoes, the for
eign exchange situation and proposed
amendments to the shipping and navi-
cation laws.