Every evening, Wilmington daily commercial., 1922-11-21
PRESIDENT HARDING PRESSES SHIP SUBSIDY
BEFORE SPECIAL SESSION OF CONGRESS
Continued from page 1.

term tnan Subsidy III nSIining
what we are seeking 10 do for our
merchant marine and the In
terests are those of all the people.
even though the aid goes 10 the
few who serve.
II government aid Is n fair term
and ! think It is--to apply TO
authorization aggregating S75.-
100000 to promote good roads for
market highways II is equally flt
to be applied to the establish
ment and maintenance of Ameri-
can market highways on the salt
cd seae. If government aid is the
proper designation for fifteen TO
forty millions annually expended
TO improve and maintain inland
waterways In aid of commerce II
is proper designation for a needed
assistance to establish and main
tain ocean highways where there
is actual commerce 10 be carried.
But call Il subsidy" since there
are those who prefer 70 appeal to
mistaken prejudice rather than
make frank and logical argument.
We might so call the annual loss
OF nifty millions. which we are
paying now without protest by
those who most abhor II, we
might as we'll call that Subsidy"
n 80 ! am proposing 10 cut It in
half, approximately. and 10 the
saving thus effected there would
be added millions upon millions OF
further savings through ending
losses on capital account-gavern
ment capital. out OF the public
treasury. always remember--an
there would be at least the prom
ise and the prospect of the perms-
nent establishment OF the needed
merchant marine.
j challenge every insinuation OF
favored interests and the enrich
ment OF the special few Mt the er-
pense of the public treasury. L
am, first or all, appealing 10 save
the treasury. Perhaps tho un-
limited bestowal of government
aid might Justify the apprehension
or special favorinr. but the pend
ing bill, the first ever proposed
which carries such n provision
automatically guards against en-
richment or perpetuated bestowal.
1t provides that shipping lines
receiving government aid must
have their actual Investment and
their operating expenses audited
by the government, that govern
ment aid will only he paid until
the shipping enterprise earns ten
per cent upon actual capital, md
Immediately that when more than
ten per cent earning Is reached.
half OF the excess earnings must
he applied 20 REPAYMENT of gov
ernment aid which has been
previously advanced. Thus the
possible earnings are limited TO a
very reasonable amount il capital
Is TO be risked and management
Is To he attracted Xxxx
Not so many months ago the
head OF n company operating a
fleet of ships under our flag call
cd at tho executive offices 10 dis
f'ef ~ ~ t''A ~ - iIcAtf MS iiNtL
OF cargo vessels to a foreign flag,
though he meant to continue
them in n distinctly American
service. He based his request for
transfer on the allegation that by
such n transfer he could reduce
his labor costs alone sufficiently
TO provide a profit on capital in
do Y
accuracy OF the statement nor
mean 10 discuss it.
The allusion is made Ia recall
that in good conscience Congress IS
has created by law conditions sur.
rounding labor on American ship.
which shipping men the worlt
over declare result in higher cost.
of operation under our flag.
frankly rejoice II higher standard.
for labor on American ships hav,
| been established. Merest justic,
suggest that when congress fixe.
these standards. IL is fair TO ex
tend government aid in maintain
ing them until world competition
| is brought TO the same high leve
or until our shipping lines ar,
so firmly established that the!
can face world competition alone
| Frankly. think II loftie
craftsmanship to support ant
commend a policy resigned to ef
feet the larger good TO the nation
than merely 10 record the to,
ftt,nxAuCfn,,g .f
cy. out of the harmonlzed aspira
tions the fully informed convic
tions. and the united efforts of al
the people will come the create
republic ..
This far l. have been urgin
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
the foremost thought of every ma
ton in the world today.
l believe in government aid be
comingly bestowed. We have aid
ed industry through our tariffs
we have aided railway transpoI
tation in land grants and loan
we have aided the construction {
; market roads and the improve
ment of inland waterways. w
have aided reclamation and irrigs
ton and the development of watt
power; we have loaned for see
grains In anticipation Of harves
We. expended millions in invest
cation and experimentation
promote a common benefit, thoug
a limited few are the direct ben'
ficiaries. We have loaned hun
dreds Of millions to promote Il
marketing of American goods.
has all been commendable al