The Jasper news., 1922-11-30

which SO enormous treasury loss is
the inevitable outcome. This loss,
moreover, attends operation Of less
than a third Of the government-owned
fleet.
Would Diminish Burden.
"It is not, therefore, a question of
adding new treasury burdens to main
tain cur shipping; we are paying these
burdens now. 1t Is not a question Of
contracting an outlay to support our
merchant shipping, because we are
paying already. am not asking your
authorization Of a new and added draft
on the public treasury; l am appeal
ing for a program to diminish the bur-
den we are already bearing.
LET us omit particulars about the
frenzied wartime building. Possibly
we did full as well as could have been
done in anxious circumstances. Let us
pass from the moment the vital rela-
tionship between a merchant marine
and a commercially aspiring nation.
Aye, let us suppose for a moment the
absurdity that with one $3,000,000D00
experience and with the incalculable
costs in lives and treasure which may
be chargeable to our inability prompt
ly to apply our potency-which God
forefend happening agaln-let us mo-
! mentarily ignore all Of these and turn
to note the mere business problem, the
practical question Of dollars and cents
with which we are confronted.
Urges Change at Once.
"When your executive government
knows Of public expenditures aggre-
eating $50,000,000 annually, which 1t
believes could be reduced by half
through a change Of policy, your gov
ernment would be unworthy Of public
trust If such a change were not COM
mended. nay, If It were not insistently
urged.
"And the pity of it is that our pres
ent expenditures in losses is not con-
structive. 1t looks to no future attain
ments. II Is utterly ineffective in the
establishment of a dependable mer-
chant marine, whereas the encourage
ment of private ownership and the ap-
plication Of lndl"idual initiative would
make for a permanent creation, ready
and answerable at all times to the
needs of the nation.
But / have not properly portrayed
all the current losses to the public
this year.
ave are wearing out our ships with
out any provision for replacement.
We are having these losses through
deterioration now, and are charging
nothing against our capital account.
But the losses are there and regret
tably larger under government opera
tion than under private control.
"Only a few years of continued
losses on CAPITAL account will make
these losses through depreciation alone
to exceed the $5O,0OO,000 a year now
drawn to cover losses in operation.
"The gloomy picture Of losses does
not end even there Notwithstanding
the known war cost is $4,000, 100000.
For the present tonnage l will not
venture TO appraise its cash value
today. 1t may as well be confessed
now as at come later time that In the
mad rush to build in establishing ship
yards wherever men would organize
to expend government money when we
made shipbuilders 'vernight quite
without regard to previous occupa-
tion or pursuits we builded poorly
often very poorly. Moreover, we con-
structed without any formulated pro
gram for a merchant marine.
'The war emergency impelled and
the cry was for ships-any kind OF
ships. The error is recalled In regret
rather than criticism. The point is
that our fleet costing approximately
$4,000, 100000 is worth only fraction
of that cost today. Whatever that frac-
ton may be, the truth remains that
we have no market in which to sell the
ships under our present policy, and a
program Of surrender and sacrifice and
liquidation which is inevitable unless
the pending legislation is sanctioned,
with post scores of millions more.
Sees Future Loss.
"When the question is asked, why
1.-the insistence for the merchant ma.
rine act now2 The answer Is apparent.
"waivIng every inspiration which
lies in a constructive plan for main
tanning our flag on the commercial
highways of the seas, waving the
prudence In safeguarding against
another $4,000, 100000 madness II war
ever again impels, we have the un'
avoidable task Of wiping out a $780,
100000 annual loss in operation and
losses aggregatlng many hundreds OF
millions In wOrn-Out sacrifices, OF
scrapped shipping. Then the supreme