The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-02-14

! which are demanded in the interest
Of all the people of the country, when
it Is impossible to engage private
capital in such operations"
He then recalled 10 mind the fact
that spokesman of the greatest bust
ness interests in the United States
Joined in appealing to the admins
tration to secure the war-risk insu-
rance act passed last fall. They
strongly favored and urged that the
United States Government go into the
war-risk insurance business Secre-
tary McAdoo said. Why? Because
private ca pital would not engage in
this business. and because 1T was es-
sential to afford Immediately this pro-
lection TO our foreign commerce. II It
was not TO cease altogether. War
risk insUranke Is just As essential an
element in the shipping business as
the hulls Of the ships themselves, No
Shipowner and no shipper will send
q ship and cargo TO sea without war
/ risk insurance in time Of war, ana
without arine insurance in time -.
peace ar war"
/ AmpvAyins on this point. he con-
I inued
The representative business men
whose names have given made a
/ distinct declaration in favor of
't. The Government engaging in
! the insurance business for the ex-
/ press purpose of enabling American
vessels or shippers on American yes
seis TO compete, on equal terms. with
the vessels or shippers OF other no.
! tionaiities' and
2 The eSta blishment OF board
with power to fix rates of premium.
I etc.
\ Answers Stock Arguments
III. Z 81 ~
ping bill is intended to do for our
merchant marine As private capital
cannot he obtained for this great
enterprise. and as the need like that
for war-risk insurance. is Immediate
and imperative, 1t is proposed
II To have the Government engage
in the shipping business for the pur-
pose OF enabling American vessels or
shippers on American vessels to com
pete, on equal terms. with the ship
pers of other nationalities.' and
-. To establish a shipping board
which will have the power to fix the
rates Of our shippers on such Ameri.
+, can vessels and thereby the more
certainly to secure our shippers thai
degree of equality and protection In
the foreign trade which viii enable
them to compete successfully with
their foreign rivals.
ne WdE-Eisk HlsuTdHte blIl WAY
passed on September by the votes
of Republicans. Democrats and Pro.
gressives alike. In the Senate there
was no roll-call, the vote being aye
and nay In the House of Represen.
fatives Democrats, Republicans ant
Progressives voted in favor OF tins
bill, which passed by an overwhelm
ing majority. Here is a striking in.
stance where all political parties ane
business men of the country, regard
less of political faith, deliberately
eminent going into the most private
kind of business for the purpose OF
protecting the commerce of the coun
try"
The objection that the Govern,
ment must never go into private bust
ness, he added. "even though private
capital refuses to engage in such bus
mess, when the interests OF the PEG
pie imperatively demand IT, is AWAY,
urged against any progressive step o
| this character. Are we. to be bount
by a mere dogma of this sort? Ar
we to be deferred from doing, through
| the agencies of Government. what i
essential to the welfare of our people
when private capital cannot be Sc
cured? While / believe that the Gov
eminent should not engage In bushes
where private enterprise can be de
, pended upon for the purpose. I an
not afraid OF the Government goinl
into business where private capita
refuses and where the bushes
} in which the Government Ia to engag
is for the benefit OF all the people o
the country. / am afraid OF the Gov
eminent going Into private bushes
II only when 1t IL for the benefit o
special interests or to serve the sci
fish purposes of some particuaa,
class"