WORLD SHIPPING

Press, Volume LXX, Issue 21118, 20 March 1934, Page 9

WORLD SHIPPING

♦ EVILS OF SUBSIDY SYSTEM INTERNATIONAL ACTION ADVISED AN AMERICAN ULTORT U'imxn rnr:';=; .\ssru iArr'X— rr r.i.icnac Iti.tuS.uii -I'i'i vi'.'.rin .) (Received March 19, 7.15 p.m.) WASHINGTON, March 18.

The Foreign Policy Association, a group of students of international aifairs, issued a report to-day on "Ship subsidies and the future of world shipping."' The report suggested the mternationalisatiou of ocean shipping at the alternative to the vicious circle of the present subsidy system, "in which each subsidy calls forth another and creates a new obstacle in the way of tiie restoration of shipping to a sound basis." It is explained thai the Government is faced with two alternatives: 11) the continuance of subsidising iiv competition with other countries, and (2) "an a'lCmpi of co-operation with other governments, to develop a programing to rescue the international shipping industry irom its present plight.'' It was a noted fact that while world trade was 7 per cent, below what it. was in 191 a, the total tonnage had increased by A'A per cent. Tins was due to the war, followed by narrow national shipping policies, which in.ade the possibility of a comprehensive national agreement on world shipping almost impossible, i

"I't rhaps." the iej >ort continue , I "it will prove more feasible to sub- | ject the shipping, mdu-try to ;emol form of international planning, as-; Miring the chief maritime powers a fail - proportion <*{ the world's ship-, ping, and leaving each free to grant such subsidies as it deems neces- j sary for the maintenance el' its i share." i