FOREIGN SHIPPING SUBSIDY

Evening Post, Volume CXIV, Issue 28, 2 August 1932, Page 6

FOREIGN SHIPPING SUBSIDY

(To the Editor.)

»„ '7^i ho foUo;v: inS extract-'taken" frora an article appearing in the July, 193'' ifesue of "NationVßusmess," published by" the Chamber of Commerce of the United States, inay give a ray of hope to those concerned about the present shipping com petition -between America and New Zealand, indicating as it does that there is a strong section of opinion growing up in America with regard to the, curteitoent of the subsidies for shipbuilding and ocean mail services :-^ '•'■■' - "Government subsidies must come under new scrutiny. Jhis applies to agricultural education,; agricultural co-operative mar- £• °S development, air mail, ocean mail, shipbuilding.loans and others. -Each will haw trustify ita existence. It is worth noting that shipping men are beginning to question? the need \ of- Government shipTS s"bs^ ws-. R??« D. Lapham, preiii?- -?* the Amei-ican-HawaiiM Steam- «*! *■ S-5' reP e°t; speech commented ? i • tt", tl,l. lty °l G°verament subsidies of shipbuilding: 'The last thing the American shipown or in foreign trade wants to-day, is new ships.' Such expressions as this represent an antidote for the flaswaving arguments, of the subsidy proponents." ■ ..-.. e

In an attempt to balance the Budget the American Federal taxes have been raised ro many directions recently, and there is every possibility of still further increases withinthe next, year or two.: Un top of the pinch of depression and the increased taxes the American business public is aroused over Government expenditure, and drastic reductions: are being called for. There is- no doubt thati tb,?. subsidies at. present. complained of will.-in due pourse come under the axe — I am,-.■etc.,- '■■:"■■ ■• -■■~ •"■■'■'■■"..■•■ ■ '.'j ;;;■■- . -■'■■y".: •■.'-:'• •.'-■...'.-TiN.Wi ■■.