AMERICAN SUBSIDY TO THE MAIL LINE.

Grey River Argus, Volume XII, Issue 1424, 22 February 1873, Page 4

AMERICAN SUBSIDY TO THE MAIL LINE.

The following is extracted^ from the Alta' California's telegraphic summary i,f President Grant's speech delivered at the ' opening of the United States Congress on December 2. Under the head of "Subsidies to Steam Lines," the President says: — "There are but three lines of ocean steamers, namely, the Pacific Mail Steamship Company, between San Francisco, China, and Japan (with provision made for semi-monthly service after Ist October, 1873), the United States and Brazil line, monthly, and the California, New Zealand, and Australian line, monthly, plying between the United States and foreign ports, and owned and operated under our flag. I earnestly recommend that such liberal contracts for carrying the mails be authorised with these lines as will ensure their continuance. If the expediency of extending the aid of Government to lines of steamers which hitherto have not received it should be deemed worthy the consideration of Congress, political and commercial objects make it advisable to bestow such aid on the lines under our flag between Panama and the Western and South American ports. „By this means much trade now directed to other countries might be brought to us, to the mutual advantage of this country and these lying in that quarter" of the continent of America. — Under the heading, " Necessary Efforts to Recover the Carrying Trade," the President says : — The report of the Secretary of the Treasury will show an alarming falling off in our carrying trade for the last ten or twelve years, and even for the past year. I do not believe the public treasure can be better expended in the interest of the whole people than by trying to recover this trade by an expenditure of five millions per annum for the next five years. If it would restore to the United States our proportion of the carrying trade of the world, it would be profitably expended. The price of labor in Europe has so much enhanced within the last few years that the cost of building and operating ocean steamers in the United States is not so much greater than iv Europe. I believe that the time has now arrived for Congress to take^this subject into serious consideration. .