SHIPPING SUBSIDIES
THE NORMAL EFFECT STAGNATION AND DEADLOCK. LONDON, March 21. Lord Stonehaven has been re-elected president of the Institution of Naval Architects. He declared that, though the normal effect .of shipping subsidies was stagnation and deadlock, dangerous weapons were sometimes needed in commercial as in other forms of warfare, and they must be employed to retaliate against subsidies elsewhere. He added that the improvement in design justified a replacement policy on economic grounds. The cost of transport within the Empire could be reduced to half of the 1914 level if tramp steamers were allowed to develop.
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Otago Daily Times, Issue 22219, 23 March 1934, Page 9
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97SHIPPING SUBSIDIES Otago Daily Times, Issue 22219, 23 March 1934, Page 9
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