It is axiomatic that no agricultural and industrial country can get the
full benefit of its own advantages without a merchant marine. We have been
proceeding under the act of Congress that contemplates the establishment of
trade routes to be ultimately transferred to private ownership and
operation. Due to temporary conditions abroad and at home we have a large
demand just now for certain types of freight vessels. Some suggestion has
been made for new construction. I do not feel that we are yet warranted in
entering, that field. Such ships as we might build could not be sold after
they are launched for anywhere near what they would cost. We have expended
over $250,000,000 out of the public Treasury in recent years to make up the
losses of operation, not counting the depreciation or any cost whatever of
our capital investment. The great need of our merchant marine is not for
more ships but for more freight.
Our merchants are altogether too indifferent about using American ships for
the transportation of goods which they send abroad or bring home. Some of
our vessels necessarily need repairs, which should be made. I do not
believe that the operation of our fleet is as economical and efficient as
it could be made if placed under a single responsible head, leaving the
Shipping Board free to deal with general matters of policy and regulation.