Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-07-12
THE SHIP SUBSIDY STEAL

pRESIDENT HARDING and the
l administration are making
every effort to get the ship subsidy
bill through this session of con-
gress. Here are some OF the facts
of that measure as pointed out by
the democratic congressional CONF
mittee and the minority report
against the bill. They are surely
worth investigation and consider
alton.
The bill proposes to turn over
to the shipping trust $4,000, 100000
worth o. fine steel ships built by
the government, the most modern
fleet in the world, most Of them
oil-burners. The people OF the
United Stats own these ships.
The bill proposes to sell them to
this group of capitalists for $780,
100000, or one-flfteenth of their
cost.
The bill also Proposes to lend
these men $685. 900, 900 to recondi-
ton the ships. If they had been
properly cared for during the Hard
ing administration this w>tlld not
be needed.
The bill provides for t:s pay
ment Of a subsidy of S750,000.O00
to the capitalists in the next ten
years for using this great grab of
ships for their own private gain.
During three recent years the At
lantic Gulf and West Indies Steam
ship company made a clear profit
of 100 per cent on its shipping bus
mess without a subsidy; the pub
lishcd reports of the company show
this, and it is merely used here as
an example because it is n OF the
largest of American companies.
During the war some ships earned
their entire cost in one trip. There
is no reason why any of them should
fail to be self-supporting at any
time.
This subsidy will be paid even to
the ships Of the Standard Oil COM
pany and the Steel corporation for
transporting their W products in
their V ships for their own, prot
it. Is it any wonder they are all
for Harding? And the passage OF
this bill greatly increases the list
of calling places for the campaign
fund collectors of the republican
party when Mr.. Harding comes up
for reelection.
Under this bill, the army and
navy transports will be abolished
sold for junk at a great loss-and
the business turned over to the
trust. when we already have the
shi IS. built and paid for-not only
the transports, but the merchant
fleet-in our own possession. Is
there a business man in the country
who would make such a deal!
The bill does not require any
reports to congress and no account
ing as to earnings of these ships
Thus the people will never kno"
how badly the republican party sold
them out.
The bill exempts the shipping
trust from the payment of all fed
erai taxes. providing the amount
is set aside for the building Of new
ships-and all the time the party l:
claiming that too many ships are
already built for the business being
done-under a republican admins
tration.
The bill makes no provision to'
regulation of freight rates on ths
water and creates a gigantic com
binaticn which can make rates a:
high as it chooses and leave thu
shippers helpless. Whether they
will make the rates high can b'
determined by barking back to thu
open robbery of the war rates.
In the committee hearings, prac
heal steamship men admitted tina
the vases of our seamen do no
hurt the American steamship il
competition with European yes
sells. Their testimony showed tina
the difference in these wages doe
not exceed two per cent. John c
Seager, Jr., vice president of thu
Seager Steamship company, admit
ted in the hearings that there is NJ
reason why American ships canno
compete with the world under pres
ent conditions; his and other com
panies are doing it. The onl,
difficulty he saw was that some o
the American companies paid yer.
fargo saiaf.ses to unnecessary execu
tives. sona of them as high a
100000 per year, greater thai
r--fA..k IY~~AsaN