Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-09-11
SHIP BILL. COMMENDED
TO COUNTRY BY M'ADO0
Thinks Measure Will BE INDICATED
in Same Way as Federal
Reserve Act.
POINTS OUT POSSIBILITIES
Will Contribute More Toward Expan.
sion OF American Foreign Trade
Than Any Other Move Ever Made
by Government.
Especial to The Times Dispatch. ]

Especial to The Times Dspatch.1
WASHINGTON. September 10.-Sec-
rotary Of the Treasury McAdoo, who
was largely Instrumental in drafting
tho administration shipping bill and
in applying the pressure which finally
passed 1t through Congress, believes
that this measure will yet be vindI-
Gated by the people in the Same meas
urc that the Federal reserve act has
been indicated.
In statement commencing the act
TO the country and pointing out it's
constructive possibilities. the secretary
shows that 1t Will contribute more to-
ward the expansion Of American for
cign trade than any other move ever
made by the government. Moreover,
he says. this measure will greatly
strengthen the national defenses by
providing an active and efficient naval
auxiliary. In his statement. the sec
rotary says:
II am sure that the new shipping
bill will vindicate itself as thorough
ly. and command the same high do
gree OF approval Of the American peo-
pie. as the Federal reserve act has vim
dictated itself and earned the peoples
approval. Only three years ago the
present reserve act was being de-
nounced in unmeasured terms by sell
fish interests throughout the country.
To-day even its former opponents adj
NIT the great virtues OF this leglsla-
tlon. Tho shipping bill will have the
same experience.
EXPANSION OF COMMERCE.
OF PARAMOUNT IMPORTANCE
THE expansion OF our foreign com
mercc is OF paramount importance 10
our prosperity and welfare as a peo-
pie. certain way to make that COM
merce grow is to maintain the neces-
sary agencies OF transportation on the
high seas under the American flag Let
us have merchant marine under the
American flag through private capital
II We can get 1t, and let us always
encourage private capital by every rea-
sonabie means to provide such a mer-
chant marine
The field is wide. opportunities are
great and our capitalists are assured
Of greater protection for merchant ma
rine investments than ever before in
their history, as they will come to
know when they have studied this law
and understand it: but IL we cannot
get n merchant marine under tho Amer
lean flag through private enterprises
we must. as nation, provide and
maintain 1t under our own flag, be-
cause 1t is essential to the protection
and welfare, II not to very life OF the
nation itself
NO longer can a combination OF
foreign and domestic shipowners de-
stroy independent competition under
the american flag on tho high seas
through the practice OF fighting ships'
because it Is outlawed in the present
act. The American investor can now
enter the shipping business with the
assurance OF protection against unfair
practices and with the Knowledge that
he has II powerful government board
10 which he can appeal TO redress
wrongs. Likewise. the American ship
per and the American producer are
assured OF protection against many un-
fair and discriminatory practices and
eXtortions to which they have been
subjected in past years.
The shipping board has not the
wide powers OF the British Board OF
Trade. 7 wish it had: but, at least,
1t has ample power-.to protect and to
help intellectually, not only tho Ameri-
can shipper and the American ship.
owner. but. as we'll American COM
mercc upon the high seas.
81 behave that tho bill will also
help the American ship-yards. because
the moro we build up the American
merchant marine. the greater will be
the profitable growth OF the American
shipbuilding industry"