The Washington times., 1921-02-26
U.S.SH|PSFACE.
RIVALRY.
Britain FORCES Ahead in Ton
nage-Japan Looms as Con-
tender-Rates Sharply Cut.
BY W. H. ATKINS.
InternatioHul News Service.

American shipping now faces a
pSice-cutting war, in which Great
Britain and japan appear as chief
competitors in race for world trade.
This was forecast today by the Ped
eral Reserve Board.
The boards findings in a world
survey of the business future for
Americans abroad disclosed that a
"period of intense competition" has
begun, with several other powers
forging ahead for a dominating hold
upon logical American fields.
GET FLYING START.
The board finds that other powers
are achieving these ends by radical
cuts in shipping rates, and by in
creasing their orders for ships under
construction.
The world shipping inquiry grows
out Of a general investigation OF
world finances. and the probable
course of events affecting American
import and export trade.
The board said that shipbuilding in
the United States. after reaching the
war peak, has slumped away In a
rapid tonnage decline. while Great
BRITAIN mas 6OHt duu pdostN
the United States in ships under con-
struction. -.
Englands total ships now under
construction. amounting to nearly
10000 tons, the board stated. rep
resents about one-half of the entire
shipbuilding in progress in the world.
Expansion of the ship building
industry in Great Britain since the
war seems to have taken hold OF the
Imagination of the other nations of
the world" says the board.
Japan. which before the war was
hardly a factor at all, is now at the
front rank as ship builder. HOLLAND
has always been noted as ship
builder, but now is turning out new
tonnage faster than ever before"
In France. the survey disclosed,
the shipbuildins industry is almost
up to the pre-war output, and the
board regards as significant the
French governments purpose fur
ther to expand the shipping indus
try Similar conditions were OBJ
served by the boards experts in the
Scandinavian group of nations. while
in Italy it is found that a number
of new shipyards have been laid, and
new tonnage constantly increasing.
1.-The nations of the world" said
the board. seem to be making
extraordinary efforts toward secur-
irg a definite and larger share In
:he worlds carrying trade. This
condition has been reflected In
sweeping cuts in ocean rates.
signs are not wanting that a
period of intense competition is in
prospect, and for a time an excess
of ships above the immediate needs
of commerce"
The output of shipyards through
cut the world since the armistice
has been so great, the board stated,
that the shortage in ships due to
war losses and other causes has been
entirely overcome.
The increase in the worlds ship
ping since 1914 is estimated at ~
per cent. The net gain in world
tonnage since 1914 was brought
about chiefly through the addition
of 100000 tons to United States
shipping. Japan has 100000 tons
more than in 1914, and is now in
third place following Great Britain
and the United States.
France and italy, by receiving
parts Of the merchant fleets of the
central powers. show gains of 1000
900 and 100000 respectively. The
worlds tonnage has risen to $4,000
900 tons. according to latest esti-
mates.