The Washington times., 1915-06-02
THE PEARSON SHIP PLAN

Samuel Hale Fearson, cltlzen Oh
Argentina with a New England an
cestry, is one Of the most import
ant business men in the new world.
He is the head of family that has
been powerful in shipping for q
century or more, and whose early
ventures in South America were in
the old days Of sailing ships, as
owners Of such craft. Mr.. Pearson
is not to be set down as Impractical
because he suggests>a cooperation
Of North and South American gov
ernments and perhaps a combination
of government and private owner
ship, for the development Of the
transportation now so sorely needed
between the countries of the
Americas. >s. '-....
There is no doubt that the recent
Pan-American financial conference
has strongly impressed this country
with the idea, not only that these
facilities are needed, but that South
America also realizes their need,
and is willing to help provide them.
A joint ownership of a great steam
ship system would be an instant and
effective promoter Of trade, for the
people at both ends Of the route who
had money invested in the enter
prise would be concerned to provide
tonnage for the ships.
There has never been a time when
all the countries concerned were so
seriously under conviction about the
necessity of developing their eco
nomic relations, as right now. The
opportunity should not be allowed
to pass.
Mr.. Pearson has quite effectively
stated the weak points in his own
proposal. How could ships thus
owned be used as naval auxiliaries
of any country? How would the
jointly owned property be managed
in case any Of the owners were at
war? Would not politics be con-
stantly playing against business, in
the effort to secure the greatest pos
sible concessions in the matter Of
facilities? Mr.. Pearson recognizes
all these and other difficulties; but
he is optimistic enough to believe
they can be overcome.
A partnership Of governments in
such an enterprise is not likely to
appeal much to the people of the
United States, who, as Mr.. Pearson
suggests, have not been accustomed
to the idea Of government owner
ship of transportation. But it is not
at all apparent why a partnership
of citizens Of the different countries,
with the support and backing of
their governments, should not be
practicable. Stock and bonds of the
great ship owning countries Of the
world are on the markets of the
world; they may be bought by Ar
gentinians, by Colombians, by
Chileans, by Brazilians; why not a
cooperation in such form as this,
through a corporation chartered to
meet the particular needs Of the
present emergency?
Mr.. Pearson suggests such COM
bination taking over several Of the
lines of ships already established in
Pan-American trade. It is improb-
able that this would be found
feasible. These lines are already in
business, serving an established
trade. Both the shipping and trade
it serves might be demoralized by
the efforts to readjust them to such
new conditions. 1t would seem more
feasible to establish new shipping
corporation with powerful alliances
and affiliations, to supplement those
facilities already in operation.
But one thing is very sure. If
there is to be expansion of trade to
the mutual benefit Of all the
Americas, there must be ships to
carry it. The wars end will not see
the end of the need or Of the oppor.
tunity; but it ought to see substan.
tial advance already accomplished
in the direction Of supplying the
| facilities.