The New York herald., 1922-06-21
HARDING APPROVES
SUBSIDY VOTE PLAN
Continued from First Page.

construction Our fire. Thought tteR.
was national survival
I'VE have, therefore, two outstanding
problems which must be met in the s y
luton of which Congress must share the
responsibility and regarding which there
can be but one opinion when our people
are acquainted with the facts. One is
the handling of our shipping assets to
the highest advantage without con-
tinued loss to the public treasury. Tne
other is the establishment of an efficient
merchant marine, when opportunity Is
Of commerce and an avenue to influence
peace and an indispensable element of
defense If we are again involved In
''The question is not to be rrejudiced
by the old and wornout cry against
subsidy If there Is insisten. use Of
term so long employed to awaken
public hostility. let it be known that
we are subsidizing to-day by paying
losses aggregating fifty millions year
for inadequate service of no pernla-
nence. while the pending measure con-
templates no such outlay. Moreover,
the term subsidy, liliplyHis DeslOWdi
upon special interests. can no longer
be applied to public service where the
aid Is extended only until a normal
earning is developed. and must be re-
turned after the earnings reach 10
per cent. return on actual investment,
certified under Government audits. All
this the pending measure prosides.
",rhe large requisition is that OF ma
tional policy in availing ourselves~of our
tonnage and the present opportunity to
csta blish great American merchant
marine. Tf we are to think Of only a
self-contaned republic, aloof from the
world perhaps we may go on depending
upon our competitors for our carriers by
sea. But such course challenges every
aspiration and narrows our vision. No
nation ever has maintained enduring
prominence or abiding good fortune ex-
cept in proportion to it's eminence on the
seas.
'Tn the new order of the world we
shall no longer be self-contained. but IN
shipping we must become self-reliant.
We ask no favors, but we do believe in
American genius and capacity under
equal opportunity.
"At the risk Of excessive length. let
me point out what 7 believe to be we'll
screened source OF opposition to an out
standing and confident American course
in this matter No we'll developed mari
time power of the Old World is craving
the development of our shipping. We
cannot complain thereat. l confess an
admiration for the national spirit which
always thinks of the interests of the
homeland first. I crave its manifesto
tion here at home in solving this
problem.
II have not attempted to argue the
merits of the pending bill in detail. I
do hope to have members convey to agri-
cultural. mining and industrial constitu-
encies the relation of future shipping
and foreign trade to the maintained good
fortunes In their pursuits, and stress the
fact that now, IL ever. with ships ready
for cargoes and crews. our people must
take their place on the seas. or sur
render every such aspiration and
liquidate, at whatever prive is necessary
the assets at our command.
Frankly. I feel deeply the RESPONSE
bility. i think it national calamity
to fail in the waiting opportunity.
cannot but believe that the American
people will be in accord. 1t is not In
my mind to appeal in behalf Of spe-
cial interest in America. / confidently
believe IL you and your associates wilt
take the problem to the people at home
you will encounter n very favorable re-
action on patriotic interest which con-
Germs all American conspicuously to-
day and of greater consequence to our
future. WARREN G.. HARDING.