Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-01-17
HURLEY PUTS FORTH PLAN
TO Save Yankee SHIPPING
Government Will Value It's Ships at
30 or 40 Per Cent Less
Than Cost.
Will KEEP UP MEMS WAGES
Idea Is to Make IL Possible to Conn
pete With Foreign Owners.
Scheme May BE Extended to Ship.
cards.
IBy As.0ciuted pr.s,.

PARIS. January 1G.--Ame:ican ship
ping will be enabled successfully to
compete with other maritime nations
and keep the seas open TO the great
business development expected with the
end OF the war under the provisions
OF shipping policy adopted by the
United States government. II vas learn
cd hero to-day.
Formulated by r.. y. Hurley. chair
man of the United states Shipping
Board. after an extensive investigation,
this policy. which has been officially
approved. proposes to write off Virtually
{lO0O,0O0.00O from the cost OF Ameri-
can Shipping built during the war and
possibly Droportiona;e write-off from
inc valuations Of American shipyards.
This writc,off. according to the plan
would apply 10 ships worth approx
mate!y 100000 900
1t is expected the moral force OF the
government. i'm making such Il reduc-
ton. Will bring privately owned ship
ping into the plan. As all ships con
structed In the United States durin. .
tho war were built by the government
the percentage OF privately owned ship
ping affected is small. This reduction
in shipping values 10 an afte--tae- wa !.
basis has been chosen rather than plans
calling for reductions Ia wages Oil j.
Gals were convinced. after exhaustive
study, tina; one Of these alternatives
was necessary If tho United Stutes was
toEcompetc with foreign nations under
the high standard established by Con-
Sress for maritime labor
OFFICIAL OUTLINED
NEW AMERICAN POLICY
Following is an official outline of
the new policy which Is considered OF
great Importance to American business
and OF vital influence in obtaining for
America her part of the worlds ocean
trade:
'lnasmuch as one of the very i'm
nortant factors in ship operating costs
ID that part Of the overhead cost rep
resented by interest and depreciation.
It is recognized that a reimbursement OF
ship values should be made. 1t Is also
evident that sound commercial prac-
tice and proper accounting methods
require reduction in values which
ships already built and now building
under war conditions are carried. Il,
Is estimated from the figures so far
obtained that the proposed writ-on OF
from 80 to 40 per cent would be Tho
minimum amount properly chargeable
20 the cost OF the war.
Inc operating cost OF the United
states Sorernmentowned ships is
necessarily high because OF the high
question OF future rates. therefore,
makes necessary readjustment Of the
values at which American shipping Is
carried. The proposed reduction should
postwar footing both as TO values and
cost OF operation. Similar methods. it
seems. might well be applied 10 a re-
auction in shipyard values.
Tho proposed new valuation OF ships
would BIO to put the United States. in
80 far as the present governments w ned
ships purchased or built during the
war are concerned, in a position to
name rates in competition with such
rates as may be offered by ships OF
other nations and IL Is the intention
Of tho United States government that
It's people shall have ocean rates at
!eas. as low as those offered by for
eiSn shipping.
referring to the question whether
operating costs OF commercial vessels
privately owned and those not at pres
cnt Sovcrnment-owned are seriously
areeted in an adverse way by the wages
paid, and II now Is known that So per
cent or <he ocean-Gc!nG tonnage OF the
world to-day Is being operated within
from to 10 per cent OF that now be-
Ing paid by American private concerns
and the present owned and controlled
ships Of the United States government.
Tho difference in wages should not be
vital to the question of rates as such
difference could not be a controlling.
factor in the cost of operations OF the
United States shipping"