Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-11-22
SHIPPING MEN HERE
BACK SUBSIDY PLAN
Head Of Bourse Asserts Nation
Must Support Harding Plea
to Save Marine
COST BUGABO0 ATTACKED

IL the ship subsidy which President
Harding so strongly advocated in his
address to Congress yesterday become :
a law. il will have the effect of building
up the American merchant marine 10
,hc Point where II can give real COM
r"titi"n I" the other great shipping M.
tions of the world. according to men
prominent In the shipping world.
Philadelphia will get II fair share Of
this prosperity and the country will
be on n far safer basis whether in time
Of peace or of war.
-, Assuming that the ship Subsidy
president of The Philadelphia Boursr
and an authority on shipping matter,
1T will mean that the Fort Of Philn.
drlpha and every other port in the
United States will have an opportunity
to ship American commodities aud
manufactured goods in vessels sailing
under our own flag. something that has
not happened for some time.
1T means further that we shall be
enabled to meet the competition Of the
foreign flag ships. 1t will BE- tho grcnt.
est thing for American shipping that
has ever gone on the statute books and
as such should receive the hearty III.
dorsomcnt Of every American ritiz2N
who desires 10 80" the flny OF his ccun-
;r! again in an honored position on the
high seas.
IF the bill does not pass and th"
subsidy does not come. VIC must simply
make UP our minds not to have n mcr-
chant marine under our own flag. This
can have only one result we shall have
to depend upon the other nations Of the
world 20 carry our curgoes for us. not
only in times of peace but also 70
supply us, If they can and will. with
til" necessary tonnage required as GuX-
iliaries 20 ont naval fleets in times Of
war.
Explains Subsidy Meaning
Asked as 10 how the ship subsidy
will affect the owners of the vessels
subsidized. Mr.. Albrecht said that the
public as n whole has heretofore had {"
widespread m!sconrsption of just what
substituting ships mears.
This one thing must be imprss>ct.
strongly upon orr people he SAID.
land that is that Il ship subsidy does
not mean any Government money in
RI" pockets Of the ship owners. Tie
subsidy simply "Qun!izcs the cost oi
operating our own vessels, SO that We
can meet the competition Of ,h"s"
foreign nations whose costs are much
lower than ours.
"\"r will the proposed subsidy bring
til" cost of operating .\merical vessels
anywh"r" near III" lowest costs Of or
competitors. As matter of fact, the
subsidy will only enable the American
ship owners 10 equal tn" cost OF or-
Grating the British vessels, which. next
10 our won. Is the highest OF any Ma
tion Of IN" world. All til" other con- .
peting Nations for the worlds shipping
"r"rni" their vessels ut lower cost
than III" British.
$50 Il is clear that thor" Is no OPP
portUnity for the American ship owners
getting Il Government subsidy to make
any profit out Of til. Government. II
only places our shipping and that oi
our competitors on tho same starting
line. and then it Is up 10 the Am"ri =
, can ship operators TO get and to r"tnil
,h" business by operating just rs ELI
GENTLY ns their competitors. They Wil'
make thier Honey from thc cargocS the,
carry, and not from th" money supplied
BY the Government. which Is only t.
eQUaI!ze tn" cost OF operation.