The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-08
THE NATIONS SHIPPING POLICY.

The government owns something more than
1900 ships Some of these are splendid vessels
others were emergency craft built because they
could be got quick, and these cannot be economically
operated nor do they fit into properly balanced
merchant marine, according to The Manufacturers
Record, which in article appearing in the current
issue discusses the Nations Shipping Policy in its
relation TO the south
The Manufacturers Record says: 1.-THE government
fleets were brought into being under war legisla-
tion which appeared riders appropriation bills
and this legislation provides the disposal OF the
fleet within six months after the proclamation OF
peace by the president. But there is earlier legs-
lation, that under which the shipping board was
created, which provides for a tenure of five years
after peace is declared and there is nothing to pre-
vent the president from "disposing" of the war
fleets by turning them over to the shipping board
The necessity for the sale of the vessels within six
months therefore, technical only and can be read
ily overcome
The Green bill. which passed the house by an
overwhelming vote, is thought by some of the best
advised senator's merely TO restate an assignment
OF already existing in the president. 1t does
not represent a solution Of the problem.
In the senate number of bills have been pre-
sented by Mr. Jones OF Washington. A feature of
the Jones program is lease of vessels to corpora
tons. such those which have recently begun to
operate from southern ports. until such time. linn
ited these corporations have able develop
sufficient business to enable them to stand their
bottoms, when the vessels they have be
purchased outright by them on liberal terms.
What the southern ports asking for, we
understand it, is not government ownership, but
which viii permit leasing under terms similar to
those obtaining until such time as the new
routes being developed have strengthened.
We stand with them such proposition, and
believe that congress Will do likewise. 1t
would be sheer madness to throw away the rich
national asset which Of brains and vision. moi
only In the South, but all along the cost, are
manifestng in opening UP new trade routes and
reaching into new territory where American man
ufacturers can dispose of their products And SO
would 1t be madness to formulate shipping policy
SO stringent that the financial resources of the
new companies would be unable to meet the re-
qurements. Sound business sense requires policy
of construction. not program of ruin.
1t is unfortunately true that the theory of pap
has long held sway in .e South. Washington was
looked to as Aaddins lamp. which need only
be rubbed to bring prosperity to any community
That is a policy of subservience It has only been
few months since the cotton growers discarded
their old habit of begging for decent prices. began
relying on themselves and undertook to fight their
own battles The taste OF victory has come into
their mouths.
The uses to which Liberty Bonds can be put are
legion. We do not know that it would require
considerable presdigitation to make some OF those
held in the South liquid capital for the promotion
of enterprise. But not by an appeal to sentiment,
We advise to give up government bond for
a bond OF corporation for sentimental reasons
But where great trade developments under way
and a citizen may the capital he has accumulated
In the form of Liberty bonds to share in such de-
velopmcnt, helping not only his own locality. but
having more than reasonable saanee also to reap
reward for his feith and judgment then there is no
necessity for burying Liberty bonds in the cellar
and encasing them in cement.
The South needs great aggregations of capital.
It needs to divert its many tiny streams Of wealth
into broad rivers or capital where great power
be developed The South does not have to speculate
In New York By aggresating its funds il spec