Evening star., 1922-11-21

as to assure the exaction OF a
minimum interest rate by the Gov
ernment, whereas the existing law
leaves the grant of building loans
subject to any whim Of favoritisr.
1t should be kept in mind. also,
that there are assured limitations
Of the Government aid proposed.
The direct aid, with ocean CARRYING
maintained at our present partici-
patton, will not reach twenty mil
lions a year, and the maximum
direct aid. if our shipping is so
promoted that we carry one half
our deep-seas commerce will not
exceed thirty millions annually. At
the very maximum Of outlay we
should be saving twenty millions
of our present annual operating
loss. If the maximum is ever
reached, the establishment of our
merchant marine will have been
definitely recorded and the Gov
liquidated.
From this point of view 1t is
the simple. incontestable wisdom
of businesslikc dealing to save all
that is possible of the annual loss
and avoid the millions sure to be
lost to the governments capital
account in sacrificing our fleet.
But there is bigger, broader.
more inspiring viewpoint-aye.
patriotic viewpoint. / refer to the
constructive action of today, which
offers the only dependable promise
of making our wartime inherit
ance of ships the foundation of a
great agency Of commerce in peace
and an added guaranty of service
when it is necessary to our ma
tional defense.
Other Industries Aided.
Thus far ] have been urging
government aid to American ship
ping, having in mind every inter-
est of our producing population,
whether of mine. factory or farm,
because expanding commerce is
the foremost thought Of every ma
ton in the world today.
believe in government aid be-
comingly bestowed. We have
aided industry through our tar
ifs; we have aided railway trans
portation in land grants and loans.
We have aided the construction
lf rE nf DO nd ho
ment of inland waterways. We
have aided reclamation and irri-
cation and the development of
waterpower: we have loaned for
seed grains in anticipation Of har-
vests We expend millions in in
vestigation and experimentation to
promote common benefit, though
a limited few are the direct bene-
ficiaries. We have loaned hun
dreds of millions to promote the
marketing of American goods. 1t
has all been commendable and
highly worth while.
At the present moment the
American farmer is the chief suf-
ments which follow wars imitation.
and befitting government aid to
our farmers is highly essential to
our national welfare. No people
may safely boast a good fortune
which the farmer does not share
Promise TO Farmers.
l,;e hn
administrative branch of the gov
ernment have given willing ear to
the agricultural plea for postwar
relief, and much has been done
which has proven helpful. Ad-
mittedly, it is not enough. Our
credit systems, under government
provision and control, must be
promptly and safely hroadened to
relieve our agricultural distress.
To this problem and such others
of pressing Importance as reasona-
bly, may be dealt with in the short
session / shall invite your atten-
ton at an early day.
I have chosen to confne myself
to the specific problem of dealing
with our merchant marine because
l have asked you to assemble two
weeks in advance of the regularly
appointed time to expedite its con-
sideration. The executive branch
of the government would feel it
self remiss to contemplate our
yearly loss and attending failure
to accomplish if the conditions
were not pressed for your decision.
More, l would feel myself lacking
in concern for Americas future if
/ failed to stress the beckoning op-
portunity to equip the United
States to assume a befitting place
among the nations of the world
wlpse commerce is inseparable
from the good fortunes to which
rightfully all peoples aspire.