The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1915-01-19

Details tf the ADMINISTRATOR i AHi
At the outbreak OF the European
war more than 90 per cent Of oui
oversee trade was carried in foreign
bottoms. and it has been estimated
that We pay ~anDually from two nun
dred million to three hundred MIL
lion dollars TO vessels under forcing
flags to transport our commerce. Con-
gress has recently e~ndeavored 70
meet his emergency by amending the
law permitting the purchase of for
eign built ships by removing the i've
wear limitation as to the age OF SHIPS,
and liberalizing the law as to the ma
~tionality of officers and AS
a further inducement of American
capital to buy and operate ships pro-
under the American flag. congress has
just provided q means of securing IN
surance against war risks. But neitn
or capital nor organizations nave
come forward in such degree as 10
meet the emergency. This hesltancy
is due in part to the present impair
ment of credit as we'll as to the in
disposition to invest in an enterprise
which Americans have come TO be-
lieve could not be profitably con-
Quoted.
6. 1t is apparent that some addi-
tional remedy is necessary, and the
Alexander bill has been framed to
meet the Their is moth
liIS y VI ~ IN $500
fered by the proposed law. While
the introduction of American ships in
our foreign trade is a most essential
function in our national existence and
progress, still we may all admit tina.
it should be taken care of by prl-
vate capital, if possible to do so. Any
further suggestion that we should
wait for our citizens to take the in
~itiative is a Subterfuge, no matter
how honestly it may be offered.
Worlds Emergency Our Opportunity
We are not only confronted by q
natl al emergency but by an unpar-
alleled opportunity, both for the
tension of our foreign trade and the
establishment of an American owned
, merchant marine. Not only do the
necessity and the opportunity unite
: but speedy ASTON is imperatlvely de
, manded. Opposition to this plan by
Y negative argument is futile. The oc'
$ casion demands affirmative supper
{ OF the introduction of a more feasible
5 and effective plan.
e Z. 1t has been suggested that il
\ the administration of the proposed
law, and in the operation Of the ship
/ by the proposed corporation, tina
+ this country might violate the spiri
f of, if not the letter Of, it's neutralit,
and give offense to other nations
The further suggestion has been mad
that we would invite seizures of GU
lships or 6 with resulting inter
national complications. AS the real
= ization Of this latter fear will depen
in large degree upon the wisdom c
= the President and the Shipping Boar
= | think we can safely rely upon bot
,s exercising such precautions as wi
avoid the slightest complications wit
any of the belligerent nations. AS fC
giving offense because we are tryin
to build up our merchant marine, thi
a IN1: 60 2+ -~-.
, sideration.
,e If Private Capital Hesitates.
@ 8. 1t is suggested that q coIpOrs
ar ton could not be organized. under TT
terms Of the bill, in that priva,
n capital would hesitate to become m
Of nority stockholders. This opinion
~ not predicted upon u premises.
we admit hat a strong desire eXis
ne among our commercial interests
extend our foreign trade, which tra(
r they desire to be carried America
eS vessels, it is fair to assume that tn
is would subscribe to stock in a corp
il ration intended to effectuate the
purpose, and the fact hat the COVER
O. ment is a majority stakeholder Wou
ng not disSuade them but would opera
as a further inducement. But if T.
fears of the pessimists should be req
ed lied, then it would be easy to anne
Is the law SO as to provide for 4 J.
by cent interest on their investment. n
of alone could such corporation opera
ur ships, but it could charter upon re
ie- sonable terms and with proper gus
cts anteeS its ships to other independe
to companies which are ready to orga
in iZe and sail ships in the foreign ira,
of Such independent companies wol
welcome the opportunity to obi;
ore charter Of ships from the corpo
ton created by this act.
is 1t may be said that one of the m;
viii purposes Of this law is to afford
riff instrumentality for building up {
On trade with Central and South Am
i've lea. Just as we realize that it is n
in essary to establish branch banks
and the Southern republics for the p
pose of maintaining credit and
airy change, so it is equally necessary
have ships sailing under our own f
ion for the purpose Of promoting the
the change of commodities.
no 8. I submit one other p%ropositi
an We should stop deploring the abse
1r% - 49, f1o of tho ~