AMERICA AND THE WAR.

Colonist, Volume LVI, Issue 13591, 5 October 1914, Page 2

AMERICA AND THE WAR.

GOVERNMENT-OWNED VESSELS

The necessity for moving the American crops to Europe is sq pressing that the Government is taking steps even more extraordinary that the admission of foreign ships to American registry. Inasmuch as it would take some time for sufficient ships to take advantage of this measure, the President has proposed and is carrying out an ambitious scheme under which the Government proposes to spend from £2,000,000 to £5,000,000 in the purchase of vessels to engaga in the oversea trade. The plan provides for the formation of a Federal steamship corporation which mny begin business as soon as 51 per cent, of the stock has been subscribed for, and all not subscribed by the public may be taken by the Government, the Government to own not less than 51 per cent. It is said that private capital shows no disposition to act with the Government unless the United States guarantees the securities, but President Wilson says this merely makes it necessary for the Government to take the initiative. In three weeks, in his opinion, ships of the Federal Company would be running. Brought about by war conditions, this is the most ambitious Government-ownership scheme ever launched in the United States, excepting possibly the project for building railroads in Alaska. Whether or not the Government would retain its interest in the £5,000,000 worth of shipping after the present crisis has passed has not been decided, but it is suggested that some of the vessels could be retained for use as transports. No difficulty in purchasing ships is looked for. Many scores of foreign-owned boats now tied up in United States ports are for sale. The President's plan contemplates that these Government-owned vessels shall bo excluded from coastwise trade.— American correspondence in the "Press."