The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-10-05
MERCHANT MARINE
VITAL TO NATIONAL
STABILITY
Shipping Board Head
Shows Status of Great
War-B Built Fleet

as a whole awakonE to the fact TINT
national conomic stability II depend
ent upon the establishment OF a
national merchant marine. there can
never be an American merchant ma.
rinc, Chairman Iasker Of the shipping
board declared today In an address
before the Associated Advcrtising
clubs Of the world.
Reviewing the work OF the prescnt
board during its existence OF IS weeks.
he asked the patience and indulgence
of the country declaring that II these
were not given Americas economic
life on the seas, for the next genera
ton, ~ dark indeed
Until the farmer In Kansas. the
industrial worker In Indiana. the min
cr In Arizona realize" said MIR. Las
ker, that the regularity and volume
OF their daily wage In, In a measure,
AZ dependent on the establishment OF
an American merchant marine as Is
the continuity OF employment and the
wage Of this dock worker In baltimore
! or San Francisco. there can be no
assured hope that the flag OF the
United States will be maintained as ID
should be on the seven seas. Sound
economies accept as fundamental that
national prosperity Is based ON con-
tinuity OF employment at wages con
sonant with American standards OF
living.
when SURPRISES accumulate. prlccs
are domoralizcd and employment ends
until the excess has been consumed.
'Gcncraly speaking. the last 10 per
cent OF production makes the market
and It Is this last 10 per sent that
We must insure disposal Of TO custom
crS In foreign lands. Except with n
merchant marine under our own rom
troll there can he M assurance OF
these essential markets"
The rs weeks OF work by the pres
cnt board, he raid. have accomp-
lished only a mere beginning but n
real beginning OF tho foundation upon
which a substantial structure Of ac-
complishmont, We hope. may. In good
time be erected.
After i6 weeks We find ourselves
with the framework Of our human
organization accounting, operating.
financial. legal and hQuidatiuul pric-
tcally completed" the chairman cx-
planned.
Financial reports are beginning TO
comc lon. Dn september 20 We had
our cash Statement as Of August 90.
the g,ond cash statement that Il has
been possible Tor the Now board 60
have s.ncc u took office. on the same
date our operating account for the
month Of August was presented aud
three weeks ago the result ~ tho
NNHHNN|'N 10 We W. ANNN NNNANNHNNNH N"NAH ~
materials and supplies tnot including
plants. ships. or a%cCnuutsl WAS avail
able FOR the consideration OF the board
and for the adoption Of II policy FOR
liquidation"
The American nation today Il pos
ucsscd oil 1859 u-cean-gotng steel ships
ct about 10000. 1OO tons d-eadwelGht,
the speaker sad. adding that hc hsd
considered only steel bottoms since
eradication Of an concrete and
wooden hulls had been determined
upon. Ito estimated the cost Or he
available fleet at &3,i0O. 900. 600 which,
he said. could be- entirely written Oft.
as one OF the major factors In the
victory over Germany. without owing
one penny 10 tho American people
1t Was because of his fleet" Mr.
inskrr asserted, that we were able
ll move th" enormous volume OF
American manufacture n raw ma
tprinIs az "a time when there was "a
shortage OF world tonnage II was hc-
cause of these ships that our factories,
farms and minps were able to operate
at top speed when the boys returning
from the front were seeking employ 81
m'ut."
Tho speaker predicted that the ship
ming fleet "wuGld mo- longer be- r. bur
den tu the American taxpayer LOSSES
had been checked, he said. % not
mur, than $4,000. 900 a mun.n would
Dee required from now until the end OF
the fiscal year
'Thc Liquidation ~ the three and
Uu,-haIf billion dollars Of the ,orpord
tiun's assets VIII. at any time, realize
but % traction Of the original cost
because the fleet was built with un-
dcrstuudahlc waste and high expense
during war pressure Mr.. l4uSltcr con
r,ded. The money lose IN hquida'
tuu need NOT bee considered. since II
has already been written of In th'
cost OF the war and. as here outlined
served "a function In fun value.
what remains, though, are th'
shipH-potontinlly one Of the greatest
assets America has TO insure It's eco
monte future. which means to insure
the pursuit OF happiness by ~ people
Tho shipping OF all nations, h" ~iid
hls suffered as r. result ut the dccfchh'
boz trade aud the Increase OF vonstruc
tion since May 1890 which has h1'
the result Of placing AN excess o.
10000. 900 tons OF shipping Ia TN
ocean carrying market Halt the ton
mage now 'aiS up IL under iorcigi
flags. ne added.
Mr.. Iaskcr said The Jones ship oil
had been framed with the evident pur
pose Of removing disabilities sull'tt'
by American vessels as a result OF IN
higher vust Of construction % hlght
standards OF maintenance In ms couh
NY
do not wish the status uuo chhnErh,
tho speaker demanded that these nos
tile forces from within u M'thoul
sowing seeds of discord and distrusI
Doe met n yanquishcd.'
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