SHIPPING SUBSIDIES
AMERICAN OPPOSITION i Received Aug. 19, 6.50 p.m. 1 NEW YORK, Aug. 18. The Washington correspondent of th New York American, declares that M Wallace (Secretary of Agriculture) i a letter to Representative S-chuylt Bland, chairman of the Merchar Marine Committee, opposes further sul sidics to American shipping, on tl: argument that it is a payment to fo cign carriers in the form of an ‘ ii visible export,” giving prospective fo eign buyers more money with which 1 purchase American farm products. “Any further Governmental eneou agement of the shipping industry t subsidies, or similar measures,” M ' Wallace writes, “would tend to dive ■ the energies of our people in some d - greo into shipping as compared wii 1 other industries. It is not possib - that it may be more to our econom advantage as a nation to conccntra' on the exploitation of our rich intern: ? resources, leaving partly to foreigne the carrying trade, in which our natur advantages over them are not as gre; ? as in other forms of production.”
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Bibliographic details
Wanganui Chronicle, Volume 77, Issue 196, 20 August 1934, Page 7
Word Count
172SHIPPING SUBSIDIES Wanganui Chronicle, Volume 77, Issue 196, 20 August 1934, Page 7
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