AMERICAN SHIPPING SUBSIDIES
Change in System Likely BOUNTIES TO REPLACE PRESENT PRACTICE By Telegraph—Press Assn.—Copyright. (Received March 3, 10.10 p.m.) Washington, March 3. The various Government agencies involved to-day reached a compromise an the complicated.ship subsidies question, and it appears likely that legislation will be adopted this session of Con gross eliminating the system of Government financing of shipping through mail contracts. Under the terms of the proposed compromise, a maritime authority wil: be created to aid shippers through direct Government bounties in accordance with their needs and the service io American shipping requirements they render. A year after such an agency is created all ocean mail contracts would be voided. Provision is made to limit salaries of officials of shipping companies so aided, while the Government! will share in all their profits over 10 per cent. The compromise was reached at President Roosevelt’s request, and he indicated that he intended to force enactment.
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Dominion, Volume 29, Issue 136, 4 March 1936, Page 9
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154AMERICAN SHIPPING SUBSIDIES Dominion, Volume 29, Issue 136, 4 March 1936, Page 9
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