Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-10-03
MERCHANT Marine
| MUST GROW, Claim
Guaranty Trust Says Great
Britain Is Made Creditor
Through Shipping.

The further development Of the
United States merchant marine and it's
! operation in private hands under
sound laws are emphasized as impor-
tant means for acceIerating the devel-
opment Of our foreign commerce and
the maintenance Of our national pros
pany's foreign trade review. American
| Goods and Foreign Markets. With
the country committed definitely to an
aggressive policy in the operation and
development OF her new merchant
fleet. and with our domestic prosperity
more dependent than ever before upon
, overseats commerce., business inter-
ests must give their undivided sup
port in fostering the growth Of the
merchant marine by giving profitable
employment to American shipping.
The bulletin says. in part:
indicative of the importance of
keeping the merchant fleet profitably
employed Is the estimate recently
made by the British board Of trade
that the net earnings Of British ships
ping this year will amount to approx
imately s2,200,o00,00o, which sum, the
Britain's excess Of imports over ex-
ports for the year, but give the king
dom a favorable balance Of 500, 00O.-
600. Shipping, according to the Brit
ish board of trade, thus will have
brought in sufficient return to restore
Great Britain to her former position
of a creditor nation.
Given Big Balance.
The board OF trade figures deal with
all of Great Britain's invisible" rev.
enue. including income from invest
ments abroad and from miscellaneous
services, the total Of which may swell
the favorable balance to 5000, 000, 900,
but by far the most productive sources
of invisible" trade are found in the
marine. In estimating the shipping
earnings the board of trade consid-
cred the gross tonnage of British
ships employed in trading between
the United Kingdom and countries
overseas during the first half Of 1920
as 25,50o,000 tons lightweight, allow
ance having been made in these fig
ures for shipping laid up for repairs.
More tonnage probably will be afioat
during the last half of the year than
was in service during the first six
months. but the increased earnings,
which normally would result from
such tonnage increases and the lower
cost of bunkers will be more than or
set by the reduced rate for charter
money. SO the estimate places earn
ings for the six months ending De-
cember 81 at $1.050, 100000. as COM
pared with $1,150.O0O.000 for the drst
six months of the year.
Keen Competition for q. s.
The foregoing figures serve not only
to emphasize the keenness of the COM
petition into which American shipping
must enter, but to demonstrate the
tremendous earning power of a large
merchant marine probably employed.
The American carrying trade to and
from United States ports showed a
steady increase Gin tonnage) during
the fiscal year ended June 80. 1920,
but. during the same period, foreign
carrying trade to and from our ports
increased at more rapid rate than
our own trade. with the result that
American ships in July carried less
than SO per cent of our total foreign
commerce. American ships carried
about 81 per cent of our July trade
with North America. about IS per cent
of our trade with South America and
less than 80 per cent OF our trade with
Europe.
The way has been opened for in