VICIOUS CIRCLE
SHIPPING PLIGHT NATIONAL SUBSIDY WAR REMEDIAL PLAN. ON . UNIVERSAL BASIS. (United Press Association—By Electric Telegraph.—Copyright.) •(Received 9 a.m.) WASHINGTON,- March 18. The Foreign Policy Association, a group of students of international affairs, issued a report today..on shipping subsidies and the future of world shipping; This suggested the internationalisation of ocean shipping as an alternative to the vicious circle of the present subsidy systejn, “in which each subsidy calls forth an offsetting one and creates a. now ob--1 stack to the restoration of shipping to a sound basis.’’ • The report said the Government was faced with two alternatives. One was to continue subsidising in competition with other countries’, and the other to strive in co-operation with other Governments to develop a programme to rescue the - international shipping industry from' itsf present plight; 'Whereas world trade was 7 per cent below that of 1913, the total .tonnage had increased 38 per cent, Which was due to the War. This wag'.followed by nationalistic „ - shipping , policies, which made it almost. impossible' to secure a comprehensive international agreement covering, world shipping. 1 Perhaps it would: prove ■ more feasible to subject the shipping'industry to some form of international planning, assuring the chief maritime Powers a fair proportion of tty? world’s shipping, and leaving each free to grant such subsidies as it might doom necessary for the maintenance of its share. . 7
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Northern Advocate, 20 March 1934, Page 7
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227VICIOUS CIRCLE Northern Advocate, 20 March 1934, Page 7
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