STATE SHIPPING LOSSES

Western Star, 20 July 1926, Page 3

STATE SHIPPING LOSSES

Addressing the International Parliamentary Commercial Conference, in which 10 countries are represented in London, Sir Frederick Lewis said private enterprise had provided both adequately and economically for the world’s transport requirements, and it could not successfully he supplanted by State trading. State ownership had not particularly contributed to commercial expansion, but, by the magnitude of the losses incurred in every known instance of State operation of Ships, had placed enormous burdens on the shoulders of the taxpayers'of the countries concerned. The recent decline in the volume of oversea trade was attributable to the general destruction and dislocation caused by the war and to a Itesser extent to the fact that there was substantially more tonnage afloat now than in 1913. In June, 1913 the gross steam tonnage was 43,000,000 tons; In June, 1925, it was 62,000,000 tons. In the last four • years _ shipping, had passed through serious difficulties, but the established shipping companies had shown a wonderful record in meeting them. The losses incurred by the Governments of the United) States, Australia. Canada, France, Portugal and other countries which had ventured on State ownership showed that the business man could carry on the bommeree of the world better than the statesman.