SUBSIDIES TO SHIPPING
REVISION IN AMERICA NEW SCHEME PROPOSED' STATE TO SHARE PROFITS (Blec. Te2. Copyright—United Press Assn.) WASHINGTON, March 3. The various Government, agencies involved to-day reached a compromise on the complicated shipping subsidies question, and it appears likely that legislation will be adopted this session of Congress eliminating the system of Government financing of shipping through mail contracts.
Under the terms of the proposed compromise a. maritime authority will be created to aid shippers through direct Government bounties in accordance with their needs and service to American shipping, and the requirements, they render. A year after this agency is created, all ocean mail contracts will lapse. Provision is made to limit the 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 its enactment.
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Bibliographic details
Poverty Bay Herald, Volume LXIII, Issue 18955, 4 March 1936, Page 5
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153SUBSIDIES TO SHIPPING Poverty Bay Herald, Volume LXIII, Issue 18955, 4 March 1936, Page 5
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