New-York tribune., 1919-03-28

including the administration or tne
Merchant Marine Development Fund.
Money for Marine
q "This fund, drawn from the
sources previously indicated,
should be used to relieve such finan-
cial difficulties as may be encoun-
tered in the development of an adc
qua.c and we'll balanced American
merchant marine. For instance:
~ "It is forcseen that number of
trade routes important to the
Immediate or future welfare of
American commerce must be estab-
lished and developed. Some of these
routes may not yield steamship oper-
ating profits until their existence
shall have attracted an increased
volume or better balance of trade.
Revenue derived from the carriage
of mail and possible fees for the
training of seamen and cadet officers
may partly compensate losses in
Cured on these routes. Still, in
cases where the government sells
ship upon condition that it be oper~
ated in route which may not prove
profitable at once it will be neces-
sary to provide for the payment of
defaulted interest from the Merchant
Marine Development Fund, in the
discretion of the Shipping Board or
other government agency, upon rec
ommcndation of the board of gov
crnment directors until such time
as the route may begin to yield
profit. When the ships in the route
earn their annual interest rate and a
profit one-half the profit earned each
year should be paid into the Merchant
Marine Development Fund until all
moneys drawn from the fund on
account of the vessel in question
shall have been replaced. The other
half should go annually to the steam
ship stockholders.
May Change Plans
ii "Such vessels cruising in routes
which fail to prove susceptible
OF profitable development, and which
do not serve any purpose Of the gov
ernment of the United States. NAV
be transferred by the government to
other routes. However, should the
government become convinced that
any vessel has failed to make ex-
penses solely or chiefly because of
incapable management, it may fore
close its mortgage on the vessel.
ID "On the basis of $1,000, 100000
worth of ships the Merchant
Marine Development Fund would be
$15,000,000. This amount, investiga-
tlon convinces me, would be more
than sufficient to care for all def
ciencies likely to develop during this
period.
12 Until sold under the terms Just
stated all vessels should remain
he property of and should be oper
sted by the government of the United
states"
Boards Activities Sketched
As an introduction leading to his
marine programme Chairman Hurley
ihetched the activities of the United
states Shipping Board from about one
year ago, when David Lloyd George
issued his ringing appeal for "ships,
ships and more ships"
The Shipping Board had been organ
lzed only six months and had added
alghty-one steel and wooden shipbuild
ing yards to the small nucleus, and
had expanded eighteen other yards.
At the time of the signing of the
armistice," said Chairman Hurley, I'VE
had 341 shipyards practically COM
pleted and total of 1884 launching
ways. This is more than double the
number of yards owned by all the rest
Of the world combined
Continuing, Mr.. Hurley said:
The operation of feet represent
ing 100000 tons of ships, 70 per cent
q" N"HSN tut government.
Is a problem that should be carefully
considered from every angle, and / feel
should say that the government. with
out unnecessary delay, must take a
prompt and definite step in giving leg
isiative form to some policy which will
meet with the approval of the country.
Opposes Government Ownership
While the war was on the recital OF
achievement found a quick
and ready response from an enthusi-
astic public. There is less glamour
and glory in the work Of evolving a
policy which will keep these ships
under the American flag and dcvelop
our commerce, but this work touche,
the life Of the nation almost az closely
az the emergency shipbuilding pro-
grammc.
I am personally opposed to govern.
mcnt ownership except as a last resort