AMERICAN SHIPPING. _
- In an attempt to confine grants under the Merchant Marine Act of 1928 to entirely American-owned -companies, a Bill now before Congress proposes that no contracts shall be given to companies owning or operating, directly or indirectly, any tonnage under a foreign flag. The Bill has aroused opposition from some of the American shipping companies, since they , themselves own or operate :tonnage under a foreign flag, and Se would be penalized by the bill in competition with Other : AMerican- companies." The objectors to the Bill threaten, if it liaSieS, to have -theii projected new construction , done abroad since, without goveirizrient Subsidies,- they -contend the cost of building in the United States would be prohibitive. Meantinie the Postimister-:General announces the award .of new ocean mail contracts to American companies making: possible a further expenditure of $98,500,000 for new shipping : construction. In all,. contracts under the Act already provide for the construction of fifty-two ships at a total cost of about.
$235,000;006.- Thus the -remarkable post-War development of the AmeriCan merchant Marine continues. At present thirty-five per of the total Arne:Hain-foreign trade, which has itself, of course, increased enormously, -is carried- in American ships, against only 10 per cent. in 19'14.
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