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Hokitika Guardian, 28 December 1932, Page 4

The extent to which foreign Governments are subsidising their merchant fleets was described by Sir Archibald Hurd, in an address under the auspices of the Royal Sailors’ Society. He said that since the war, British shipowners had done little more than replace the tonnage they lost during the war, but foreign merchant fleets had been enormous 1 y expanded—with the assistance of State subsidies toward the losses they are incurring in carrying goods and passengers at less than cost price. The shipping industiy in frame lias been spoon-fed by the State for many years ; bounties on tonnage IniilL, subsidies on ships’ voyages, and exaggerated payments for the carriage of mails have been made. Though the state of the French industry is now tragic, the Government continues to pour over ever-increasing funds for its support. With under .‘1.500,000 giTss tons of shipping, Italy is granting (.‘2,50(1,000, recently imroa-ed to £•1,000,000, each year to T.or shipping companies. Of that sum, over .01.,01)0,0 !) is being paid to the. owners oi tramp tonnage in the form of operating premiums. Japanese shipowners receive £1,000.000 a year. Finally, ever since the intensive submarine campaign of the Great War, the American Go ogress has been voting large sums for the building and operating of ships of all classes under the American flag. At a rough estimate, the countries which are subsidising their shipping, directly or indirectly, nro spending £30,00'',000 par annum in so doing. They own between them .about ‘ >0 ,000,000 ton« gross of shipping. If Britain were to subsidise it'shipping on the same basis, £21,000,000 per annum would 1 have to he extracted frem the BriHsli taxpayers’ pockets. Sin •> this mad exp r nfl ;+ ure cf public revenue on shipping began

after ilie war, hundreds of millions of [i.muds ha\ a been ; pent in this wa.v, and year by year the misuse of public money goes on.