The North American Review volume 179

Cover The North American Review volume 179
The North American Review volume 179
E a Welty
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The basis of this estimate is to be found in the returns of the Bureau of Shipping at Washington. The American ship-builder prob ably hates the idea of "free ships, " as much as does the Steel Trust and the existing shipping companies. The shipping prob lem for Britain, however, is not on the Atlantic alone, but on those other and broader seas which separate the wide-spread branches of the British Empire.
In a Cobden Club leaflet on Shipping Subsidies, Sir Spencer Walpole says: "It is, perhaps,
... a consciousness of the hopeless nature of the policy of subsidies that is inducing the Protectionists to suggest another and more drastic remedy. They wish to confine trade between British ports the coasting-trade, as they are pleased to term it to British bottoms. They seem to forget that there are two interests vitally concerned in the matter : ( 1 ) the shipping interest, naturally in favor of dear freights : (2) the manufacturing interest, equally naturally desiring cheap freights. The manufacturing interest secures its object by the existence of com petition.

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