The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1920-10-16
DEVELOPMENT OF UNITED
STATES MERC CHANT FLEET !, !
Foreign Trade Review Empha'
sizes Importance of Devei-
n sz7r,1z.!.7 > ".:..s-.,. 7. ,
opins Foreign Commerce

9s .l,E4. ".''- .'
The further development OF the
4 United States merchant marine and
its Qperation in private hands under
sound laws are emphasized as I'M
portant means for accelerating the
development Of our foreign commerce
and the maintainence of our national
prosperity, in the Guaranty Trust
company's foreign trade review, Am
erican Goods and Foreign Markets.
With the country committed definite
" to an aggressive policy in the op-
GRAFTON and development of her new
merchant feet, and with out domestic
prosperity more dependent than ever
upon overseas ommerce, business in
terests must give their undivided
SUPPORT in fostering the growth OF
the merchant marine by giving profit
able employment to American ship
ping.
The bulletin says, in part:
Indicative of the Importance OF
keeping the merchant fleet protitably
employed is the estomate recently
made by the British Board of Trade
that the net earnings of British ship
ping this year will amount to approx
imately $4,000, 100000 which sum,
the Board says, will not only offset
Great Britain's excess of imports over
exports for the year, but give the
Kingdom a favorable balance of
500, 100000. Shipping, according to
the sBritfsh Board Of Trade, thus will
have brought in sufficient return to
restore, Great Britain to her former
position of a creditor, nation.
The Board OF Trade figures deal
with all of Great Britain's invisible"
revenue, including income from in
vestments abroad and from miscel-
(laneous services, the total Of which
may swell the favorable balance to
'$9OO,O0O,00O, but by far the most
productive source of "invisible" trade
are found. in the diversified activi-
ties of the merchant marine. In esti-
mating the shipping earnings, the
Board Of Trade considered the gross
tonnage of British ships, employed in
trading between the United Kingdom
and countries overseas during first
half of 1920 as 25,5O0,0OO tons dead
weight, allowance having been made
in these figures for shipping laid up
for repairs. More tonnage probably
will be afloat during the last half of
the year than was In service during
theffirst six months, but the increased
earnings which normally would re-
suit from such tonnage increases and
the lower cost OF bunkers will be more
than Offset by the reduced rate/for
charter money, SO the estimate places
earnings for, the six months ending
December 81 at $1,O50,O00,00O, as
compared with $1,150, 900 for the
first six months of the year.
The foregoing figures serve not
only to emphasize the keenness of the
competition into which American
Shipping must enter, but to demon
Strate the tremendous earning power
Of & large merchant marine profitably
employed. The American carrying
trade to and from United States ports
showed a steady increase Tin ton
'nhge) during the fiscal year ending
June 80, 1920, but, during the same
period, foreign carrying trade to and
from our ports increased at a more
rapid rate than our own trade, with
'thesresult 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 30 per cent
Of our trade with Europe.
The way has been opened for in
creasing the Importance of the Unit
cd States as a maritime nation. For
sixty years a large proportion of the
profits of American industries has
gone overseas in. the form Of ocean
freight charges, maritime insurance
premiums and banking commissions
and the toll has aggregated billions
81 dollars. From 1870 to 1890 alone,
foreign ship owners collected, more
than three billion dollars from u.s. In
the year before the war the bill
amounted to nearly $40O,00O,O0O and
last year; 1t is estimated, we paid
more than $7O0,00O.OO0 to enrich our
competitors on the high seas.