Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-01-11
trimming Up Father

more heavily upon 1t with each day
that passes, because ocean freight
rates are still rising"
Opportunity to grasp a large
amount of trade is knocking at the
door of the nation, the secretary de-
| clared, but business men must have
assurance of ocean transportation UNI
der the American flag, equal in quail
| ity. reliability and regularity to
European competitors.
American trade in foreign mar
kets,' he said, will follow transpor-
tation under the American flag and
thrive as it never did before. The
markets of the world are before US
| the orient as well as South America.
Enterprise and courage are needed to
secure them"
Mr.. McAdoo urged that efforts to
build up merchant marine through
ship subsidy had failed, that changes
in the navigation laws with reduced
wages to American seamen would not
be tolerated and that the policy of
discriminating tariff duties favoring
imports in American ships had been
proved unavoidable. Guarantees of
principal and interest of bonds issued
by private corporations engaged in
shipping, he said, were not worthy of
serious consideration. The alterna-
tive left to those who wish to see the
American flag flying in every port
was in the bill now in congress with
its private corporation of which the
government shall own per cent of
the stock.
The main objection to that plan,
he pointed out, has been that it puts
the government in the shipping bust
ness. That, he declared, had fa
miliar sound. 1t was argued against
the federal reserve act, he said, that
1t would put the government in the
banking business but the law 'has
proved of inestimable value to the
business interests of the country
In support of his contention that the
argument was not tenable, the secre-
tary pointed out that some of the
leading business men and bankers of
the country urged the passage of a
war risk insurance bill which would
put the government in the business of /
carrying marine war risk he referred
to the experience of the government
with the Panama Railroad company
whose entire stock is in its hands, and
to the recent legislation to authorize /
the government to construct a rail- /
road in Alaska.
"The objection that the government !
must never go into private business,
said Mr.. McAdoo in conclusion, even /
though private capital refuses to en- /
gage in such business, when the in !
terests of the people imperatiyely de- /
mand it, is always urged against any |
progressive step of this character. |
Are we to be bound by mere dogma |
of this sort? Are we to be deferred
from doing, through the agencies OF
government, what Is essential to the /
welfare of our people. when private /
capital cannot be secured? While /
believe that the government should
not engage in business where private /
enterprise can be depended upon Tor
the purpose, | am not afraid OF the .
government going into business whefe
private capital refuses, and where the
business in which the government Is
to engage is for the benefit of all the
people of the country | am AFRAID
of the government going into private
business only when it is for the pene-
fit of special interests or to serve the
selfish purposes of some particular
class.
For fifty years we have waited Tor
private capital to provide an Amerl-
can merchant marine. For fifty years
our foreign trade has languished
while we have waited. Shall we walt
any longer upon a .fatuous hope or
lean any longer upon broken reed!
IF the shipping bill is objected to
bv our opponents, what practical sug-
gestion or remedy have they to offer! I,
The American people will not be T.
content with academic objections
They do not want practical plan re-
ieeted unless a better substitute IS OF
fered. Let the opponents of THIS plli
present such a substitute or let them
hold their peace 4
Twin the republicans, democrats
and progressives IN congress meet the
cry of the American manufacturer
the American business man and me
American banker, by immedlaiey
passing this measure, which viii SET .
our great country upon new career
Of world Influence WIN hey vote .
now 10 carry out their long neglecirn
pledges Go the people, WIZ lhey .
American commerce tlo'ii
upon foreign vessels ana
SCI ID safely on lhe highway # peace
f1l conquest, under ihe Ani'tl'aN
nag. 81 tho open markets of th'
world