Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-10

| operated by private citizens in various
| parts of the country.
Well, the ship subsidy had failed
| But there are more ways than one OF
| Skinning even Sea-cat. Congress en-
acted certain legislation so significant
that it is astonishing how little of it is
| generally known. That measure pro-
vided a loan fund of $3.50, 900 to be
used at the discretion of the Shipping
| Board with certain careful restrictions,
Of course) for the development of our
merchant marine.
From that fund private shipbuilders
| may borrow money upon liberal terms
| for periods up to 20 years and in
amounts equal to as much as three
| fourthS of the cost involved. They will
get better rates of interest if their ships
are used in foreign trade. With the
| money so borrowed they may build new
ships or they may recondition or i'm
prove existing ships. Then that bill goes
ahead to prohibit the sale of the ships
already owned by the Government ex-
cept when, in the judgment of the
board. the building and maintenance Of
an adequate merchant marine can be
best served thereby, and then only upon
an affirmative vote Of five members of
the board.
A1CtC 10 WAlckC AuLLllEdl OOi1E SVeDS
back upon the national scene.
Clearly, the commissioner under whose
direct hand the administration of that
huge sum of money will lie must be
both experienced In the ways of men,
technically competent and of an un-
questionable honesty, Where, thinks
the President, where shall find him?
ON the first day Of last June one H. L.
Cone was happily acting as vice
president and treasurer of the Guggen-
helm Fund, which promotes. as every
one knows, aviation. He had been ready
for that, too, out of his Navy days. For
1t was while he was looking over places
In the British Isles suitable for seaplane
stations that that torpedo had got him.
He was at that time, in. fact chief of
our naval aviation forces In the foreign
service. with headquarters in Paris.
He was, then, happily at work last
June promoting aviation when the
President summoned him to Washing
ton.
HE Is an engineer: he Is an execu-
tive. he has had business experience in
private shipping work and in private
transportation problems: he has already
looked into the insides Of shipping
board and he has a good memory; he
Is honest. forceful. He lives in a Sec
ton where there Is now vacancy"
These words may have run through
MIR. Coolidges mind. And then he may
have said to himself, "And he was born
a Democratic"
Whatever of the things Mr.. Coolidge
might have thought, in week Cone
was out Of the air and back on the sea:
he was out Of private life and back in
public life; out Of New York and into
Washington once more.
So there he Is. sitting with something
Of the atmosphere of old adventure still
about him. There he Is in the white
war.born building In B street which we
SO thoughtfully made permanent
building" in all its uglineSs. In that
building Cones work for his country
now Is to conduct what amounts to q
banking business on a very considerable
scale. Though It Is a banking business,
1t Is one in which Cone will probably
be to high degree his own expert on
investments.
At Hampton Roads, up above New
York In the Hudson. down the reaches