The Washington herald., 1922-11-22

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inevitable. II is unbelievable
sthat the American people or the
Congress which expresses their
power will consent to surrender
and destruction. 1t is equally un-
belieyable that our people and
the Congress which translates
their wishes into action will
longer sustain q program Of OBJ
straetion and attending losses to
the Treasury.
i have come to urge the con-
structive alternative, to reasserr
an American I'VE will" I have
come to ask you to relieve the
responsible administrative brancn
of the Government from a pro-
gram upon which failure and
hopeiessness. spd staggering
: losses are written for every page.
and let us surn to a program ot
assured shipping TO serve us in
war and TO give guaranty to our
commercial Independence in peace.
REALIZES OPPOSITION
re .W0kB "StBsDY.""
I.know full well the hostility n
the popular mind to. the word
subsidy" 1t is stressed by the
opposition. and associated with
special privilege by. those who
are unfailing advocates Of Gov,
ernment aid whenever vast num-
hers are directly concerned.
Government a:d" would BE- a
fairer term than subsidy" in
defining what we are seeking to
: do for our merchant marine. and
the interests arc those Of all
the. people, even though the aid
goes to the few who serve.
If Government aid is a fai.
term-and I think it is-to apply
aggre0ating
sI3.00O,OO0 to promote good
roads for market highways, It is
equally fit to be applied to the
establishment and maintenance of
American market highways On
:. the salted seas. If Government
asd rs the proper designation fer
Fifteen to forty millions annually
expended 10 improve and main
tain inland waterways in aid Of
commerce. it is a proper deeigna-
ton for needed assistance 20
establish and maintain ocean
highways where there is actual
commerce to be carried.
But call it Subsidy since
there are those who prefer to ap-
peal to mistaken prejudice rather
than make frank and logical ar
gument. We might SO call the
annual loss of $4,000. 900, which
we are paying now without pro-
test by those who must abhor.
we might as well call that q
subsidy" IL so. / am proposing
to cut it in half. approximately,
and to the saving thus effected
there would be added millions
upon millions of further savings
through ending losses on capital
account-Governme capital, out
6 the Public Treasury, always
. remember-,and there would be at
least the promise and the pros
pect' of the permanent establish
ment of the needed merchant
marine.
APPEALS FIRST OF ALI.
TO SANE TREASURY"
1 challenge every institution OF
/. favored interests and the enrich
ment of the special few at the
expense of the Public Treasury.
= l am, first of all, appealing to
. save, the Treasury. Perhaps the
unlimited bestowal of Govern.
-mentraid might justify the sappre-
hension of special favoring, but
the pending bill,- the first ever
proposed. which carries such
provision, automatically guards
against enrichment or perpetu-
ated .bestowal 1t provides that
shipping lines receiving Govern
ment aid must have their actual
investment and their. operating
expenses audited by the Govern
ment. that Government aid will
only be paid until the shipping
enterprise eans 10<per cent on
actual capital employed. and i'm.
mediately that when more than
10 per cent earning is reached,
half of the excess earnings must
be applied to the repayment of
the Government aid which, has
been previously advanced. Thus
the possible earnings are limited
to A very reasonable amount IL
capital rs to be risked and man.
agement is to be attracted. II
success attends, as we hope It
will. the Government outlay is
returned. the inspiration of oppor-
'tuuity to earn remains, and