The New York herald., 1922-12-07
Continued from First Page.

stead of authorizing continuing appro-
priations for a period OF ten years.
The Senate Commerce COMMITTEES
fought over the proposition most OF
the afternoon despite the fact that the
President had addressed a vigorous
protest against the Madden amend
ment to Chairman Jones. Three Re-
publican Senators. McNary tOre.).
Willis (Ohio) and Lenroot tWis.).
proposed a compromise providing that
no increase should be, made 10 the
original amount allocated TO a shipping
company from the revolving fund
created without the direct authorize
tion of Congress.
Proposal May he Rejected.
This proposal is yet 10 be adjusted
and even the most optimistic OF the
Presidents supporters doubt whether
he will accept 1t even If the committee
itself can reach an agreement regard
ing it. The five Democratic members
of the committee united with three Re-
publicans to-day to tie the hands Of
the eight Republicans who are in
clined to advance the Presidents re-
quest but who are by no means en-
thusiastic about It,
IT is a question in the minds of the
Presidents supporters whether any
agreement can be reached in the COM
mittee, in which event the shipping
bill would fail to reach vote in the
Senate.
The contest over the shipping bill
provided the chief feature of the con-
fiict of views between the White House
and the insurgent groups at the Capt.
tol The President himself furnished
convincing evidence that The has
reached the fighting stage as shown in
his letter specifically recommending
the elimination of the Madden amend
ment. Mr. Madden. by the way. is the
chairman Of the House Appropriations
Committee and has usually been found
in support of the Presidents policies
Some surprise was expressed by Sem
ators who indicated their support of
the shipping measure that the Presi-
dent did not protest against the in
clusion of the Madden amendment
while it was pending before the House.
His present insistence that the amend
some of the critics of the shipping
measure as rejecting executive will
lingness for the ultimate abandonment
Of the shipping project.
The Presidents letter did not bear
out this Interpretation and the more
ardent supporters of the shipping
project vehemently contended the
President will finally have his way.
The Presidents letter was read to the
Senate Commerce Committee and fur
nished the basis for the lineup which
subsequently developed.
Presidents Letter.
In protesting against the Madden
amendment the President wrote.
II understand that this amendment
was added without any thought of
emasculating the bill, mainly to har-
monize it with an accepted practice of
Congress in making annual appropria-
tions in carrying out Government
commitments relating to improve
ments. reclamation and other Govern
ment projects.
1T is very different proposition so
far as the shipping bill is concerned.
Our chief object is to establish and
promote the American merchant
marine. Shipping enterprise in
wolves very considerable investment
of capital Sometimes millions must
be invested in a single ship. and no
shipping concern with ample ships to
operate definite lines in sustained SER
vice could hope to begin without enlist
Ing several millions of capital. Much
Of this capital will necessarily be ac-
quired through the processes of direct
subscription. attended by bonding 1t
is not believed that any financial con-
Germ would support a bonding enter
prise with an uncertainty in the con-
tinuity of Government aid
Possibility of Interruption.
1T would be quite possible for ship
ping concerns already organized and
financed to avail themselves of Gov
ernment aid without any more guar
anty than the bill passed by the House
carries for them. OF course it is a
reasonable assumption that Congress-
once pledged to a policy of Govern
ment aid, would carry on from year
to year in accordance with its enacted
pledge. At the same time 1t must be
recognized that Congress unfavor-
able to a policy of Government aid
might, for one reason or another. in
terrupt the appropriation and bring
about collapse of the entire under
taking.
"The mere possibility Of such
successful financing OF shipping