The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1921-10-05
PROSPERITY OF
us. IS LINKED
WITHSEA TRADE
Chairman Lasker of Shipping
Board Says Public Must
Awake to Importance
REVIEWS WORK OF BOARD
Chairman Asks Patience and In.
dulgence of Country in Work
ing Out Problems
REVIEWS WORK OF BOARD

ing Out FfODlemS
New York, Oct. 5-Until America
as whole awakens to the, fact that
national economic stability is depend.
ent upon the establishment Of ma
tional merchant marine, there can
never be an American merchant ma
rine, Chairman Lasker of the Ship.
ping Board declared today in an ad-
dress before the Associated Advertis.
ing Clubs of the World.
Reviewing the work OF the present
Board during its existence of 16
weeks, he asked the patience and in
diligence of the country" declaring
that il these were not given "Ameri-
cas- economic life on the seas, for
the next generation, is dark indeed"
Until the farmer in Kansas, the in
dustrial worker in Indiana, the miner
in Arizona realize said Mr.. Lasker,
that the regularity and volume of
their daily wage is, in measure, as
dependent on the establishment Of an
American merchant marine as is the
continuity of employment and the
wage Of the dock worker in Baltimore
or San Francisco, there can be no as
sured hope that the flag tof the United
States will be maintained as it should
be on the seven seas. Sound eco
nomics accept as fundamental that
national prosperity is based on contin-
uity Of employment at wages conso-
nant with American standards Of liv.
ing.
What Causes Slump
when surpluses accumulate. prices
are demoralized and employment ends
until the excess has been consumed.
Generally speaking, the last ten
per cent Of production makes the mar
ket and it is this last ten per cent
that we must insure disposal of to
customers in foreign lands. Except
with merchant marine under our
own control there can be no assur-
ance OF these essential markets"
"The 16 weeks of work by the pres
ient board" he said, "have accomplish
ed only mere beginning but q real
beginning of the foundation upon
which substantial structure Of ac-
complishment, we hope, may, in good
time be erected.
After 16 weeks we find ourselves
with the framework Of our human or
ganization accounting, operating,
financial, legal and liquidation) prac-
tically completed" the chairman ex-
planned.
Financial reports are beginning to
come in. On September % we had
our cash statement as Of August 81,
the second cash statement that it has
been possible for the new board to
have since it took Office. On the
same date our operating account for
the month Of August was presented
and three weeks ago the result Of the
inventory of all of the shipping
boards materials and supplies mot
including plants, ships, or accounts)
was available for the consideration
Of the board and for the adoption Of
a policy for liquidation" ~
1850 Steel Ships pisii
The American nation today is pos
sessed of I ,450 ocean-going steel ships
of about 10,O0O,000 tons deadweight,
the speaker said, adding that he had
considered only steel bottoms since
eradication" Of all concrete and
wooden hulls had been determined
upon. He estimated the cost Of the
available feet at $3,500!O00,0W which,
he said, could be entirely written of,
as one of the major factors in the
victory over Germany, without owing
one penny to the American people
1T was because of this fleet" Mr..
Lasker asserted, that we were able
to move the enormous volume OF
American manufacture and raw ma
terials at time when there was a
shortage sof world tonnage. 1t was be.
cause of these ships that our factor.
les, farms and mines were able to op.
crate at top speed when the boys re-
turning from the front were seeking
employment"
Burden to Cease
The speaker predicted that the
shipping fleet would no longer be a
burden to the American taxpayer"
Losses had been checked, he said, and
not more than s5,00O,000 month
would be required from now until the
end of the fiscal year.
"The liquidation of the three and
one.half billion dollars of the corpora :
tion's assets will, at any time, realize
but fraction of the original cost, be-
cause, the fleet was built with under.
standable waste and high expense dur.
ing war pressure" Mr. Lasker con-
ceded. ''The money loss in liquida-
ton need not be considered, since it
has already been written off in the
war and, as here outlined, served a
function in full value.
''What remains, though, are the
ships-potentially one of the greatest
assets America has TO insure its eco
nomic future, which means to insure
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