New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-11
.M'ADOO PLEADS
FOR ship BILL
Tells Economic Club 1T
Will Safeguard Nations
Business.

The government ship purchase Dill
was declared last night by Secretary
Of the Treasury William G. McAdoo to
be a measure for prosperity. He was
the guest Of honor at dinner OF the
Economic Club Of the Hotel Aston.
Mr.. McAdoo referred 10 the situa-
ton which caused the demand for the
bill as one of chose emergencies
which come almost unheralded out OF
the sky, and that have TO be met ana
dealt with promptly and on the spot II
we are going to cope with them as we
ought to in order TO conserve the best
interests of our people"
The Secretary said he regretted that
the bill has been made partisan cues
ton. Because" he said, when you
inject partisanship into a question OF
this character, it is impossible TO get
an unbiased opinion"
"Do you realize that the whole OF our
foreign commerce to-day is dependent
upon a foreign flag, with the excep-
ton of about 10 per cent. The British
flag to-day handles the greatest part OF
our foreign commerce. About 70 per
cent of all our shipping is In British
bottoms and about 20 per cent prot
tected By the Scandinavian flag.
"Now, suppose anything happened TO
destroy Englspd's command OF the
sea-suppose the submarine blockade
should be effective. The British ships
would not protect our commerce. We
cannot insure war risks on British
ships. We can only insure our Amer
lean flag. We cannot send cotton
goods into Germany to-day, except un-
der the American flag, and yet we sit
here and talk seriously about doing alb
solutely nothing and taking all Of the
risks of disaster to our commerce
growing out of the most gigantic con-
flict of modern times.
"Now, is il reasonable for Congress
TO adjourn and leave the government
without the means of protecting Ameri-
can interests? Is 1t reasonable TO ask
that the people Of the United States
should protest or have some considera-
ton for the men who have their in
vestments In foreign shipping over
which we have no control. and the small
amount Of American capital invested in
foreign shipping, which is only S69,-
100000, or is 1t more reasonable to ask
that all of you business men who are
engaged in trade, all the farmers in
this country who are interested in the
protection of our foreign trade and the
expansion of il, and all the men en-
gagged in every kind Of activity, the
combination Of which makes up the
total of our export trade, amounting to
more than S2,000,000,000, should have
the first consideration at our hands?
"The government has no purpose In
this act, except to protect business in
this country. Here is g constructive
measure, something designed TO secure
our situation, to protect us against
what may be a gigantic disaster. When
! you look at the magnitude of the risks
! that we are taking, Is 1t reasonable to
say that the government shan't be en-
| powered to do anything to protect oui
/ people after Congress adjourns, but
/ leave US standing helpless and power
1 less to go forward until December
| next?"
The Secretary Of the Treasury was
on his feet for fully forty-fve minutes
Before he finished his speech about
one-qusrter OF the thousand who at
tended the dinner had left the hall
Mrs. McAdoo, who is the daughter
OF the President, sat In box in the
balcony opposite the speakers dais
| She was accompanied by party OF
| friends.
George W. Perkins, who was promi
nent in the Presidential campaign fol
| Colonel Roosevelt as Progressive
criticised the Wilson administration
His remarks referred principally 70 tn.
attempts to dissolve the trusts. Her,
we have the President" he said, "ssy
! ing that size (of q corporation) is M
] "a Draaidan1's
/ General, at almost the same moment
appealing to the Supreme Court Il
overrule the Circuit Court and decid,
that size is a crime"
John Graham Brooks, formerly ex
pert of the United States Department
of Labor, spoke on the unemployed, AM
A. W. Douglas, Of the Simmons Hard
ware Company, Of st. Louis, on 9TH
Fundamental Conditions Of the West.
William r. Wilcox, president Of tn
( club, was POSTMASTER.