New Britain herald., 1922-12-20
AMERICAN SHIPPING
 @INCOME ANALYZED
National Research Bureau Of NY.
 Issues Facts on Water Carriage


 New York, Dec. 20.-An analysis oi income derived from transportation by water is issued today by the Ma tional Bureau of Economic Research of this city. The investigation was made by Dr. Willford l. King, as part of the general investigation o' income in the United States upon which the researchsptaff Of the Dur- oau. under pr. Wesley c. Mitchell, has been engaged for the last two years It is timely because of the discussions in congress of the snip subsidy measure.
 Tonnage Comparison
 Comparisons of the tonnage ahoat of the American merchant marine with the population of the Continental United States, for each of the eleven years from 1909 to 1919 inclusive show that the tonnage per capita was almost imperceptibly declining in the A-st five years of this period, with ,.s lowest obb In 1914. A moderate increase in 1915 and 1917 was fol- lowed by large growth in 1913 anc a tremendous expansion in 1919.
 The period which began in 1so9, when the country with a population ar go, s7o 1000 had 7,SSs,755 tons afioat, closed in 1919 with population or 104,847,000 and 12,s07.300 tons anoat, ,onnage per capita having increased rom .0S1S to .1231 in the II years. Tonnage Increase
 The increase in the tonnage per capita was coincident with marked gain in the economic welfare oi shipping employees. The purchasing mower. in terms of 1913 dollars, or the average annual earnings of the employes attached to the industry, was almost constant in the first five years of the period under review, subsequently, rising from its low point of $799 in 1914 to it's peak of $l,0l2 in 1917. While the figures fell again to S96s in 1918. this sum avs 20 per cent higher than the compensation Of sSt0 received in 1909. The earnings in current dollars, in the same period. rose from s77s in 1909 to s1,532 in 1918.
 Employes in the industry of trans portation by water receive a larger percentage of the value product than those in many other fields, such as manufacturing public utilities, pro- duction of minerals. agriculture and hand trades.
 The share of. the employees in the value product of the Industry of transportation by water was rela- lively steady in the decade 1909 to 1918 under review. dropping no lower than TAP per cent, rising no higher than S5.6. per Gent, and closing at s3.2 per cent, as compared with its opening at S3.5 per cent ten years before.
 While the total share of the value product of the industry received by operators and investors was increas- ing from ss34,3o5,o00 in 1903 to $S5,- 1S0.oo0 in 1918. the total share of the value product paid to employees in the, form of wages and salaries was jumping from s173,2oo.sco to s421,- 100000.
 Increase in Workers
 The number of men actually at work on the vessels of the American Merchant Marine increased from 149,- 200 in 1909 to 222.20o in 1919 while the estimated average anhual earn | ingS of all employees on vessels of the merchant marine rose from $901 in | 1909 to $2,152 in 1919.
 Operation of the merchant marine vessels also gives work to large number of persons on hand. In 1909 there were 5s,450 land employees at work engaged in the industry of by water, with an es- timated average annuar pay of $66f. With the increase in shipping activity, this total rose to S0.400 in 1918 and at the same time the estimated aver age Annual pay of those land em- ployes rose to $1,012.
 Net Value Product
 The net value product of an indus try, as the term is used in this re- port, consists of the value contributed 10 the output through the services cf Lhe persons and property engaged in r Ehe industry. It is measured by add ing together the wages and salaries of employees, the dividends and interest caid to investors, the rent paidl for eased property and the annual saw ngs retained in the enterprise. Pas- ments made for materials and serv- ces purchased from other industries are manifestly not included in the net value product, for such payments having been counted once in the other ield must, of course, not be du- plicated.
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