Great Falls tribune., 1922-04-06
THE SHIP SUBSIDY BILL

TIE Sntk SUbSlD1 BILL
WE note In eastern financial jour.
W mails which favor the passage Of
a ship subsidy bill granting scores
of millions Of dollars every year
to the owners Of American vessels
while relieving them Of taxation,
granting them loans Of money al
two per cent, and other special
privileges, that the ship subsidy bill
is expected to pass the lower house
of congress practically without op-
position. One such newspaper, the
Daily Financial America" thus
optimistically outlines the pros
poets Of the bill:
shipping men in New York city
are expressing much interest in the
joint hearing on the ship subsidy
bill which begins Tuesday in Wash
ington under the auspices of COM
mittees from the senate and house.
Those closely in touch with the
situation are confident that the
measure will be passed by congress
at this session.
chairman Lasker of the shipping
board will be the first one to be
heard, according to present plans
as outlined. 1t is expected that his
arguments in favor Of the bill will
occupy most of the day.
"The house, it is anticipated in
shipping circles, will pass the meas
ure without opposition which will
help the progress of the measure
materially. There may be more de-
lay in the senate, according to those
favoring the plan, the length of the
time which will be devoted to the
question depending somewhat on
the disposition Of the tariff and
bonus legislation. President Hard
ing's favorable attitude toward the
bill is regarded as a strong factor
by marine men.
Proponents OF the measure are
greatly heartened by the endorse
ment of the project on the part Of
representative organizations in the
south. The Charleston chamber Of
commerce has gone on record as
favoring the plan and other COM
mercial bodies in the south are ex-
pected to take similar action.
Attention Of residents Of the
southern states has been called to
the advantages which the subsidy
would give to that section Of the
country in exporting cotton, lun-
Der and other commodities. With
the appropriation stipulated in the
bill the great fleet of moderate
sized vessels owned by the shipping
board could be operated from the
smaller ports, it is said. Senator
Joseph E. Ransdell of Louisiana.
has pointed out this fact, stressing
the value of the slower and smaller
cargo ships. Without aid it is said
to be unlikely that many Of the
vessels in question now in service
can continue in operation to and
from southern ports.
care also has been taken to i'm
press southerners with the competi-
tion of foreign ships In waters bor-
dering on their states. This compe-
tition has given away during recent
years to American-operated vessels,
according to promoters of the SUBJ
sidy plan who, however, quote fig
urcs showing the grasp which over
seas nations have on shipping. They
recall that British vessels trans
ported So per cent of the foreign
trade of this country in 1921, Amer
lean craft obtaining only IS per
cent OF the shipments.
I'm this connection department
of comrnrcec figures giving the
tonnage Of vessels entering and
clearing from United States ports
during February have timely inter-
est. They show that, while there
was a gain in the net tonnage of all
ships entering and clearing in the
month in question, compared with
figures for January, there was
loss in that Of American bottoms,
and an increase In British craft
figures.
"The aggregate tonnage of yes
sells of all nations entering United
States ports during February was
4,lz7,o0o, compared with 3,se4,O0o
in January. The American tonnage
in February amounted to 1,s32,ooo,
while in January it reached 1861
600. In January the tonnage of
foreign ships aggregated 1881, 900,
but in February it jumped to g.