CAUSE OF TROUBLE
SUBSIDISED . SHIPPING
DIP INTO PUBLIC PURSE
CASE OF MATSON LINE
CTnited Press Associatlau—By Electric Telegraph- Cabyrieta (Beeeived 21st December, 10 ajii.) LONDON^ 20th December. Speaking at the annual meeting of the Orient Line, the chairman, Sir Alan Anderson, said: '* Among the world causes of our depression is that one nation after another is giving, enormous subsidies to dumping shipping services on the world with the apparent object of ruining shipowners who try to make ends meet. Thij Mataon Line, byplacing on the San Francisco-New Zea; land-Australia ran three new vessels whose capital c»ost and running expenses are mueii greater than,- judged by past experience, the trade will repay, is competing with a British line which cannot dip into the public purse and is unable to offer the public such costly vessels. If the Matson Line had found 25 million dollars, and if they themselves were charged normal rates of interest on that amount or were in any serious risk of having to pay for the eventual loss, we might blame them for gambling, but as a grateful nation. is taking the risk, we must congratulate them on being safe men, not gamblers."
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https://paperspast.natlib.govt.nz/newspapers/EP19321221.2.67
Bibliographic details
Evening Post, Volume CXIV, Issue 149, 21 December 1932, Page 9
Word Count
195CAUSE OF TROUBLE Evening Post, Volume CXIV, Issue 149, 21 December 1932, Page 9
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