PROTECTING COMMERCE.

Taranaki Daily News, Volume LI, Issue 173, 13 July 1908, Page 4

PROTECTING COMMERCE.

COMMISSIONERS' VIEWS. STATE INSURANCE SCHEME SUGGESTED. London, July 9. Sir Sydenham Clarke in referring to tho chairman's draft report on war risks to shipping says he is unable to concur with tJie report oil all points. He considers State action is necessary. He believes the exaggeration of war risks might, by imposing a serious cheek upon operations of the mercantile marine, cnla.il u grave national dapger. If the State, during the early period of hostilities could succeed m steadying the insurance rates until they rested upon a reasonable basis, it would attain all that was necessary. An Over-estimate of risks was more to tie feared than actual captures, while with an adequate uavy would not reach dimensions constituting a public danger. Sir Sydenham holds that it would be absolutely impossible for the State to set up ;v ii insurance department at Uie outset of war. He advocates a system of indemnity at fixea rates and suggests that the State lay down a schedule of rates corresponding to the zones of voyages. Tile schedule, he suggests, should be on the following basis: Vessels and cargoes proceeding between London and Australia to be charged i 2'/ 2 per cent.; vessels going via Suez 21/jj vessels going via tile Cape 2 per cent.

Captain Charles Otley signed the report with the reservation that it woufel be very regrettable if the inability to recommend State action to-day should be regarded as definite proof of the uselessness and impracticability of any future scheme of national guarantee.