The Washington herald., 1922-12-12

q 161k&s y tons, sums that
sw-as,HAa cover even the
colo sal war
costs of great powers, sums that
for q generation pile billions on
billions until imagination stag
gers and the mind fails to do its
work.
PROFITS PER CENT.
In one period Of seven years, the
ocean-borne commerce Of the
United States was $4,000. .oo0. 900
OF this amount almost $40. .Ooo. 200. 900
was carried by the ships Of a for
eign power. In freight insurance.
banking and other charges. the
profits on this business are fig
ured at a quarter Of the total or
twenty-five per cent.
Thus we enriched British ship
ping and allied interests in only
seven years with $4.950, 900, 900.
Other foreign countries. in the
same seven years, we enriched by
nearly $4,000. .000. 900. Nearly nine
billion dollars earned abroad with
in seven years-nearly nine bill.
hOho tAAol IidNC DCCu luI Hcu
over and retained in American
hands-nearly nine billion dollars
that in wages. salaries and profits
should have gone to spread COM
fort in the United States, to re-
place the capital destroyed in the
war. to rejuvenate the enterprise
that is destined to develop the re-
sources of the nation,
This is the condition that the
shipping bill now in the United
States Senate is intended to cor
rect; this is the national waste II
is calculated to stop: this is the
prize which all the world covets
from us and which we. by this bill,
propose at last to claim for our.
selves.
For the first time in half a CEN
tury America has a great ocean
going fleet. The fleet is not large
enough to transport all this coun>
try's foreign commerce. With 1t
Americans will be able to carry
about half and win about half the
prize. But the fleet, Government
owned, Is costing the United States
Treasury 100000 a year. Pri-
vately owned and Government aided,
the same fleet would cost the tax
payers about $4,000 900 a year for
few years and then be self-sup-
porting This is the calculation at
present.
MEANS BIG SAVING.
That $50. .000, 900 is the amount of
subsidy proposed in the subsidy
bill-s20 ,000. 900 less than the fleet
is costing the country now and a
mere scratch in the hand or speck
on the sun as compared with the
enormous mass II will move in the
commerce. wealth. and welfare Of
the United States.
When. in the history of this coun-
try, was such colossal return
promised on such a small national
investment? Never. never before;
and 1t would not be promised now
II the fortunes of war had not left
in the hands Of this nation a great
fleet. ready for the purpose Why
then is there opposition to the ship
subsidy bill? For two sets of rea-
sons-one set foreign and the other
domestic.
The foreign reasons are plain.
Foreign governments foster trade.
They are perfectly frank about It,
Unlike Americans, they do not think
IT necessary to hide their CONNER.
cial purposes. They regard these
purposes as legitimate. follow them
openly. and make no sentimental
profession. beyond that of desiring
to keep their people busy and thus
] to promote prosperity and content.
ment and tranquility at home.
With these policies established
foreign governments, especially the
British government. are opposed to
all measures that will reduce their
share of Americas ocean-borne
commerce. That America should
at last reclaim her own trade. car.
ry at least half Of her own goods
to market. establish her own de
livery system and business branches
in foreign ports. would be regarded
by the British as little less than a
calamity.
MEANS HUGE CONCESSION.
In a hundred years. coming and
going. Americas foreign trade has
amounted to $3.50. 600. 900 900. OF
that amount American ships have
carried only SIS 900 hoe. 900. For
eigners have carried the rest. Great
Britain alone has carried nearly
s57 900 900. 900.
Never was there such huge
concession made voluntarily by one
nation to another, Will Great
Britain give II up without a strug
gle? She will net-she does not
Neither would any other foreign
power. Who would expect 1t?
! The domestic reasons for oppos
ing the ship subsidy bill are mort