Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-12-14

Washington, Dec. 1S.-Nearly
One-haf of the nations record
breaking overseas commerce in the
past fiscal year was carried in Am
erican ships. Secretary Alexander
shows in his annual report made
public today. The overseas trade
reached the unprecedented total of
$ll, ,424,0 900, and $5,071.905,O 600
of it was carried in American own
ed vessels as against $36S, 900
carried in American bottoms the
year before the war.
The total volume Of imports and
exports by land and sea was $13,-
349,66i. 900, nearly $4,000 900
above the previous record estab-
lished in the fiscal year ended June
80, 1919. Imports for the last year
pared with $3,095, 1900 600 for the
previous year and almost $4,000
600, GOO for the fiscal year of 1918.
The value Of exports for the last
fiscal year aggregated $3.50, 429,-
600, an increase of approximately
5000, 900, 900 over the previous
year and $4,000. 100000 over 1918.
Mr.. Alexander also shows that
during the last fiscal year the Am
erican merchant fleet was increased
by GO vessels of $4,000 gross
tons and that on last June 80 Am
erican shipping comprised 2S,1S3
vessels of 16,324,024 gross tons.
This compared with 7,92S.6S8 in
1914.
Growth of shipping.
Growth of American shipping
has been wholly in the foreign
trade" the secretary said. much
more than half of that growth hav-
ing taken place since the armistice
Of November II. 1918. and the in
crease Of the past fiscal year being
double that of any year before the
armistice. This increase in tonnage
would mean little unless 1t stood
also for an increase in trade"
Quoting from the bureaus sta
tistics showing an increase of about
II, 100000 net tons cleared by Am
erican ships in 1920 as against 1914
the secretary continued I'm a
word, while our gross tonnage reg
istered for foreign trade is tenfold
what it was in 1914, it has supplied
in actual employment in overseas
trade IA times the American cargo
and passenger space available in
1914, though in the shorter voy-
ages to foreign ports in North AM
erica, requiring fewer and usually
smaller ships. the increase-and
the demand-has not been so
great" /
In connection with the growth of
American shipping and foreign
trade, Mr.. Alexander discussed the
ACCESSIBILITY of charging off ito the
winning of the war" sufficient OF
the war cost of the government !
owned ships to enable them to
compete with foreign shipping on
the basis of actual value of the
properties. lie advocated this
course on the belief that only
through such action could the
ships, built under wartime stress
and at wartime costs. continue TO
meet the overhead expenses OF
maintenance and operation.
Charge TO Winning the War.
eve must be candid with our
selves" he continued. THE value
of the ships owned by the govern
ment must be reduced to their
actual value for competitive pur-
poses at the present time and the
difference between that value ana
the first cost should be charged 10
the winning of the war, The IN
terest on that difference, the cor
responding contribution to the
sinking fund and the corresponding
allowance for depreciation will be
treated thus as war losses, and this
surely is preferable to a continued
failure to make annual payment
on the account of the merchant
marine to interest, sinking fund
and depreciation"
A1thnnrh the nntinn'S ErOsS for