Cheyenne Wells record. (Cheyenne Wells, Cheyenne County, Colo.) 1???-1969, 1921-12-29
CONGRESS- HAS
BIG PROGRAMS
SHIP SUBSIDY, SOLDIER BONUS
PERMANENT TARIFF AND Ap.
PREPARATIONS.
SPECIAL BONUS TAX
CONGRESS SHOULD FINISH ITS
lAsoRs AND ADJOURN IN
JUNE.
tHcstern Newspaper Uulsn New, ser,IcsI

Notwithstanding plans for
the Congress call for the enactment of
oiIls to encourage the merchant ma
rlne, 10 provide bonus paymen. to
former service men, enact permunent
tariff schedules and provide the regu-
TAR appropriations. Representative
Mondell. Republican House leader,
said after conference with Presi-
dent Harding.
There are no definite proposals on
the merchant marine or soldiers b0-
nus which can he said to have the ap-
provhl OF the majority ut this time"
he said. hut the outline OF subjects
TO he taken up includes both mutters."
Every endeavnr will he made in the
House, he added, to have auu the ap-
preparations bills which originate
there enacted by April l, 50 as 10
give the Senate time TO consider them
on final passage and aG.Inurn Congress
in June.
The question of finding sources for
funds with which I" pay the bonus. he
asserted. WIS the chief stumbling
block of proposals for such bill.
Enactment of such II measure. he add
ed, would probably rcuuir" Simulta
neOuS creation of II special lax to meet
the outlay.
\ final conference of officials Of
leading marine transportation com
panieS with the shipping boards Spr-
cial subsidy committee has been called
for Jan. ; to pass upon Il tentative
plan formulated by the committee pro-
viding for the substituting of the Amer
lean merchant marine To insure its
maintenance.
The committee was formed to study
subsidies ut the suggestion OF Prcsi-
dent Harding. The plan finally ap-
proved will he submitted To the Prrsl-
dent. who is expected to adopt come
Of its provisions IN II message To Con-
sress
In its present form. which commit
Tee members stated was not official
and subject to changes. the plan pro-
poses both direct and indirect aid.
the former through diversion Of 10 per
cent Of import customs us bonus to
American ship operators and the lat
ter through establishment az n revOlv-
ing loan fund of S1m.NW.Nn.
Other suggestions are understood to
include:
That the shipping board sell its re-
fleet MS rapidly rs possible al
prices not to exceed the prevailing
world market price.
Amendment of section ~ Of the
merchant marine act I" permit cstab'
lishment of II merchant marine loan
fund of about OO,OtO.WN. under the
of the shipping board
for making loans at reasonable rates
Df interest, not to exceed . per cent
per annum, on first mortgages on
American flag ships: this fund not 10
De limited to shipping board transnc-
ions, but to I've available for Financing
all American ship operating orshniza'
ions.
Income tax relief 10 create an incen-
i've to shippers to use ships flying the
American flag, providing for deduc'
ion from net income taxes payable on
he basis OF IL small percentage OF the
freight paid Oh AnIerican-flag ships
,r through II greater allowance on de-
,reciatlOn on ships.
Creation OF a government marine In
,urancc, non.prOf1t mixing corporation
% insure Its own ships and to offef
,ulI Insurance ut cost to private Amer
can owners, backed by Il loan Of *lO,'
10000.