Show I THE CHIEFEST ADVANTAGE I Discussing the shipping bill and the probability that with its passage and the Increase In the ships the freight rates would be so much reduced as to more than compensate for the subsidy I the Mall and Express says I Tho chief object of the shipping bill is j not to establish lower freight rates although al-though I hut will be an Important Incident of Us operation The national benefit i will come In this strength it will give to tho country lo possess merchant ships and seamen available for tho national tic I fenso whenovar needed Another great benefit will bo In tho Increase in the for olftn I markets for our surplus products that will be secured and retained through the operation of American ships I From the foregoing we take It that the Mall and Express docs not comprehend compre-hend what the greatest benefit proposed pro-posed in the bill means In the event of n war we could buy merchant ships all over the world There would be some Increase In foreign jnarkets certainly cer-tainly if ships to regular ports which arc not frequented by American ships now could be sent until American merchants could build up a trade In those ports but after all the chief object ob-ject in the work is to get the money which Is 1 now paid to foreign ship owners paid to American shipowners so as to retain that money in circulation circula-tion in this country The amount of money lathe United States Is estimated estimat-ed at about 2500 millions of dollars I I is that money In circulation that establishes prices In this country Other things being equal It is a clear case that If the money now paid foreign for-eign shipowners could be saved to Americanshipowncrs tho difference In fourteen years would amount to all the money in this country at the present time I that could be saved it would give to this country that much more money whlch without a subsidy bill of some kind this country will not have and the difference In prices would make a vast increase in the amount of money now received in prices for the products of this country That is to make It clear if wo have 2500000000 In money and we pay out to foreign ships 200 000000 a year that money taken out of circulation will reduce the value oc products other things being equal in the same ratio that two is to twenty five or abut onetwelfth That is an infallible law and cannot be got around and It is the action of that law which enables Great Britain every year though importing more than she exports to still do so well because of the money received by her ships and kept in circulation in England and because of the Interest and dividends which the world pays her for Investments Invest-ments In foreign lands The ship subsidy sub-sidy bH is simply a financial measure and ought to be considered from the financial standpoint merely and In done do-ne so the absolute laws which govern finance ought not to be ignored by earned editors who write on the subject sub-ject |