The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1919-05-23
HAND OVER THE SHIPS
]: IS HURLEY'S ADVICE
Chairman of Shipping Board Out.
lines Reactionary Program
for Return.
BY A. B. Gilbert.

Speaking before the National Ma
.rine league on March ~ Chairman
Hurley of the government shipping
board gave the first public expression
OF his opinion on future merchant
marine policy. His advice is to re-
turn the 1881 ships the government
now owns or has in process of con-
struction to private ownership
Surprising as this advice may be in
view OF the trend of things at the
present time, 1t is not a surprise to
those who know Mr., Hurley. And it
was well received by the millionaire
shipping interests which comprise the
National Marine league
Previous to his entering government
service on the federal trade commits
sion and latef on the shipping board,
Mr.. Hurley was prominent big in,
1eYest man in Illinois. At one time.
for instance, he was president of the
nlionis Manufacturers Association. 1t
10 characteristic of him that previous
to his recommendations for q new ship
ping policy, he asked the notorious
United States Chamber Of Commerce
to help him out with suggestions.
Government Insurance Hit.
The Hurley plan. however, embraces
more than the surrender of the ships
to private interests which failed SO
badly in the early months of the war.
He would throw the ships on the mar
ket rather quickly and thus preclude
the possibility of fair prices, he would
guarantee the new owners against loss
and he would abolish the war risk in
surAnce bureau in the face Of the low
rates and the big profits that bureau
has been making.
Mr.. Hurley's anxiety to be fair" to
future shipowners is also indicated in
his plan of sale:
The ships should be sold at price
which fairly reflects the current world
market for similar tonnage
twenty-five per cent of the pur-
chase price Of each ship should be paid
down, the remainder falling due and
payable in graded annual installments
over a period of not exceeding 10
years. The government should take
and hold mortgage for the unpaid
balance, charging interest at the GUS
tomary rate of per cent"
Mr.. Hurley then would have the
government pay not only any deficit
that occurs in interest payments, but
guarantee fair earning on the CAPT. |
tai stock.
Another part of the plan provides |
that the government is to put one di- !
rector on the board of each company
that buys a ship, but since the private
directors are unlimited this provision
Is of little consequence.
Evils Those Of Ownership.
Opponents of the Hurley plan point
out that the evils which destroyed our
merchant marine in the past and
which prevented the ship companies
from serving the country efficiently in
1917, were essentially evils of private
ownership and necessarily follow from
private ownership Of SO important a
utility. They point out that recon
struction with it's problems of secur-
ing markets for our farmers and
manufacturers is as important as war
and demands as much efficient effort.
They also hold that Mr.. Hurley's sug-
gestions for avoiding these evils and
at the same time restoring private
ownership are the merest claptrap to
catch the public.
1--WE want the initiative and skill of
American ship operators but we want