New-York tribune., 1922-11-27

Is revealed In Lloyd's Register. which
shows that about one quarter OF the
worlds tonnage, around 15,00o, 900 tons,
IS more than twenty years of age, the
normal limit for merchant vessels.
This means that without the Ameri-
can feet there would now be a distinct
shortage OF good vessels. The inevita-
bic result would be mounting freight
rates. The low charges from which
the farmer is benefiting are due to the
presence Of the merchant marine.
The farmer, represented by Senator
Cspper, is little interested in American
ships, because the oceans do not lap his
backyard He does not realize that q
large proportion of his products seek
foreign markets, though they may pass
through other hands before starting on
their long voyages.
During the last twelve months ap-
proximately St,000,000, 900 in products
direct from the farm have been ex-
ported. These include grain, meats,
dairy products, canned vegetables and
fruits. Official figures from the De-
partment of Commerce give the follow
ing analysis of shipments of foodstuffs:
TEN MONTHS ENDED OCTOBER
Grains. etc. ..... .s445 COOS 900 sss6, O0o. 900
Total meats. lbs. sAs,ooe,ooo ---------
value 80. $4,000. 600 s1ss, 900. 900
Dairy products. 100000 ss,ooo,0oo
Canned vegetables. 100000 2,7oodU6
Canned FRUITS. $4,000, 900 II. .oo0.o 600
1t is estimated that approximately
20 per cent of American products Of
the farm and factory enter into export
trade. This proportion represents the
difference between profit and loss, be-
tween prosperity and depression. The
five hundred or more American vessels
now plying to all the principal ports Of
the world have opened UP new markets.
II they are retained in service and
their number increased through con-
structive legislation they will provide
transportation at rates which will en-
able United States farmers to compete
with foreign sellers.
These figures do not cover the cot
ton trade Of the South, of which a still
larger proportion is shipped abroad.
In the years immediately following
the war, when American ships carried
30 per cent of the oversee trade, the
merchant feet was an important factor
In bringing cargo rates back to normal.
At present American ships carry only
25 per cent of the transoceanic traffic. I
but the feet is still important enough
to influence rates. If the pre-war fig
ure of per cent is reached in the fu-
ture American vessels will no longer
be of importance, either in foreign
trade or as g branch of the naval de-
fense.
Against the policy OF negation and
surrender. suggested by Senator Cap
per, the plan of government ownership
iss advanced by Senator La Toilette, who
charges that the existing Shipping
Board has deliberately tried to make
a fleeI
financial failure. He declares that IL
the fleet is put in friendly" hands it
will prove to be a commercial success.
In his statement denouncing the
Shipping Board Senator La Toilette
SAID that the vessels had been allocated
under cest-plue contract which as
sured the operating companies many
millions III profits. lie omitted to ey-
plain that the companies receive a
straight commission Of pa to per
cent, the usual fee allowed by private
companies. During the last two years
tue number of companies operating
government vessels has been reduced
from l80 to SO, and more than forty
have gone into bankruptcy.
While the Shipping Board is capable
OF defending itself against attacks of
Senator La Toilette, it is fair to point
out that since the new administration
took charge the annual cost has been
reduced from 100000, 900 to $50 900 900
q year.
she $5o,ooo,ooo is dead loss. No
private enterprise could survive such
an annual deficit, which is kept this
low only by failure to pay interest on
the Investment, insurance and de-
probation. Ships do not last indefi-
nleeiy and must be replaced. The plan
II in friendly" hands, would cost much
more than the s5o,ooo 900 if any at
tempt We're made to keep up the feet.
The advocates of surrender or of
government ownership offer no argu-
ments that equal those advanced by
President Harding.