PAPERSPAST

NATIONALISED SHIPPING IN AUSTRALIA

These figures are gathered from a .-recent statement by. W.-M.-Hughes in . the Federal Parliament; ,I• In 1916, 'the Commonwealth Government purchased 15 "Austral" ] steamers at a cost of £2,052,654, and ,' three sailing ships a ta cost of £81.494 I —>a total of £2,134,148. In course of i time two "Austral" -steamers were lost, their cost being recovered fi'oni the ■underwriters, while a fuiitlier two were sold at a profit of £108,895. One sailing ship was lost, her cost being recovered froEj the underwriters, and two were sold at a loss of £84,552. Thus the total net gaia on! the bought vessels was £74,343, leav-j ing the capital cogit ttf the 11 "Aus-1 tral" steamers still in. eogimissiga atj £1.621,573. I ! Paring the war IS ex-enemy yes-; Iso Iβ were seized, ami! charged at a capital value of £909,315. Litter on six "D ,, steamers were built in Aus-! j ina.lia at a cost of £1.048,981,; -four "10" steamers were built in Australia ar. a cost of £773,481; and seven addi».'-onai "J3" steamors s,r<s now building at a cost of £1,353,«i1. These costs make a tohal nt which, added to,the coat oi th<* "Aus-I tral" steamers, a whale cost | oj! shipg now ill commi»eii»/i or uad<er | construction .in Australia oi' £5,706,-. 97«. ' , . . J Up to June u>), 1321. fh? net earn-! ings of the "Austral" sfearner;-; ''.vere|' £2, ( j93,24f». the net earnings o? tlie'. sailing ships were £41,382; -~lh~-- uez > earnings of the ex-enomy vessels - ' were £4,066,26G; while the net earn-j; ings of the "D" and ".E" steamers' were £84,588. Bvo'kn'agn ■ ana com-! < missions accounted for ~ a fuivlier [ £181,995, while the net gate on the! sale of the steamers and sailing :^;l:ii;y■■• (as shtiwn a.bove) amounteu toil £74,343. These profits ma-Ufc a total i > of £7,441,819. - !

1" we add to the capital cost of (he vessels now in commission or building in Australia—£s,7o6,o76— Mie loss on the wooden ship s built in America (£2<323,638) ami trie loss on the wooden shipy built in Australia £291,877). we goi a totul capita] cost, of vessels of £8.352,489. Deducting the total profits of .£7,441,819 (ys «hown above), leaves the Commonwealth Government with 11 '"Austral" steamers, IS ex-enemy slea,mers. 6 "D' , steamers, and li "E" steamers- —in all, 46 vessels—at, a. cost to the Auslralfau taxpayers, •it June 30 last, of onl v £550..670.. With all the cheap talk aljout tlio evils of Government • ownership and control, it could be hard to find a more solvent proposition than the Connrionweal;h-owned and controlled shipping line.

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