New-York tribune., 1920-12-20

"haV are really inc market prices OF the
world, but an effort has been made to
mold this tonnage above the market
prices in order TO avoid loss The re.
suit of holding the price high has been
that practically no material number OF
actual sales has been made.
World Market for Tonnage
1t is not difficult to ascertain wha,
the market prices Of tonnage are
throughout the world, the Shipping
Board having its own representatives
in England and Japan and other ship
selling markets, and having an ability
to call on Anne 'can steamship compa-
MES interested in foreign trade, which
have their own representatives in Nor
way, Sweden, Denmark, Holland, France
and Italy, all having a merchant ma
rine competing with the American YES
! sells.
SO far as can judge, further
reason why the price of ships has been
held up by the Shipping Board to 8
price above the market, is the desire
to protect the American shipbuilder
but this is g fallacious conception
The American shipbuilder is to-day
running out of all work because of this
fallacious policy. No experienced
steamship line feels justified in build
ing new ships in American yards so
long as the policy of the government,
in regard TO he ownership of steam
ers and the operation of them in trade
routes which are competing with the
older lines, is not clearly defined.
The Shipping Board, the Cabinet and
the President should have definitely
outlined policy as to its program, and
definitely conceived basis of protect
ing the old-fashioned American lines
which have been tor many years build
ing up their trades at a great expense.
They should also be building up the
newer and younger lines because of the
need of a considerable number of eff
cient ship operators.
They should also, however, speedily
stop giving vessels to inefficient oper-
ators and those who are unable to run
ships with benefit to the trade or
profit to the government. A large
number Of present ship operators
should be investigated with the idea of
the steamers are making money
Bare Boat Charters Urged
One of the surest ways Of having the
government make money would be to
adopt bare boat charter plan, BY
which the government would receive q
net charter hire of so much per ton per
month, which would not only assure a
minimum profit but would enable the
government to cut the overhead charges
to very large degree and put The
American ship operator on basis of
making or losing money himself. and
would stimulate American initiative
and proper business methods along the
best possible lines.
The freight markets Of the world are
demoralized because of the lack of de-
mand, and this lack of demand come 6
from the fact that all Of the nations
are consuming less than they have done
for many years past. This is caused
particularly by the difference in the
rate of exchange, and also because of
after~war conditions and inability to
buy as they formerly did. In my opin-
ion, we may look for more or less de-
pressed conditions as to freight mar
kets in the shipping world for year
or more to come.
Admiral Benson has done a great
work IN his Craftsmanship Of the United
States Shipping Board. His integrity
his knowledge of worldwide commerce
and the uttermost part of the world, ac-
Quired during his many years Of service
as naval officer, have made him emf.
nently fitted for the high position he
now holds. He deserves the support
and cooperation of every American de-
slrous Of seeing the continued success
of the American merchant marine.
This Is the seventh of q series Of
articles on the outlooIs for the new u,or-
chamt ma 1ne. In to-morro,c's article
Winthrop L. NarUin, Vice president and
general n1ouage. of the American Steam
ship Oacners' Association, uiu discuss 8
the need Of q protective policy for Amer
ican shippimgj