SHIPPING SUBSIDIES
« Sir Archibald Hurd, addressing the Royal United Services Institution, ,said that it would probably not be an exaggeration to state that^from first to last about £2,000,000,000 had been spent in foreign shipbuilding and sliipping subsidies of which the American taxpayers had provided about one-llalf. Such subsidies tended to increase, and foreign taxpayers had not revolted. "The explanation is that they have been told that merchant ships will be essential to tlie State in time of war." American, Japanese, Italian, German and French shipping were now under varying forms of Government control. British shipowners had lost their conrage. They were eonvinced that, if the worst caine to the worst, Ministers would come to their rescue, since command of the sea by the | British .merchant navy was as vital as command of the sea by tli£ Royal Navy. So far, tlie Empire Governments had done nothing to defend Empire shipping, though aetiol might shortly be taken.
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Hawke's Bay Herald-Tribune, Issue 1, 16 January 1937, Page 4
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156SHIPPING SUBSIDIES Hawke's Bay Herald-Tribune, Issue 1, 16 January 1937, Page 4
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