A GIFT OF TRADE TO GERMANY
[To the Editor of THE SPECTATOR.] SIR,—The Red Star steamers have been run on almost identical lines to those proposed by the prospective new British buyers, and have lost the late owners 95 per cent. of their capital. Germany is welcome to them ; neither cargo nor passengers are available for them.
If it were a business proposition to acquire the steamers on today's values, there would have been no difficulty for the proposed new British owners to obtain financial support. That this support was not forthcoming is evident from the fact that the Government has been brought into the matter. The Government is not concerned with the transfer of vessels from one British owner to another. The Red Star steamers were already under the British flag. It is certain, therefore, that the Government was approached either directly or indirectly for financial assistance, but it is difficult to under- stand why the Government did not state so plainly. The evasive answers given in Parliament certainly gave the impression that the intending British buyers were badly
Previous page
