these things remain
subjects of discussion natural causes are taking Americans again to sea.
Some buy great British ships, own and manage them, even although the laws
of the United States compel the flying of a foreign flag. For example, the
Atlantic Transport line is owned wholly by citizens of the United States,
although at the present moment all its ships fly the British flag. Two new
ships are, however, being completed for this line in American shipyards,
the "Minnetonka" and "Minnewaska," of 13,401 tons each. This line, started
by Americans in 1887, was the first to use the so-called bilge keels, or
parallel keels along each side of the hull to prevent rolling. It now has
a fleet of twenty-three vessels, with a total tonnage of about 90,000, and
does a heavy passenger business despite the fact that its ships were
primarily designed to carry cattle. Quite as striking an illustration of
the fact that capital is international, and will be invested in ships or
other enterprises which promise profit quite heedless of sentimental
considerations of flags, was afforded by the purchase in 1901 of the
Leyland line of British steamships by an American. Immediately following
this came the consolidation of ownership, or merger, of the principal
British-American lines, in one great corporation, a majority of the stock
of which is held by Americans. Despite their ownership on this side of
the water, these ships will still fly the British flag, and a part of the
contract of merger is that a British shipyard shall for ten years build
all new vessels needed by the consolidated lines this situation will
persist. This suggests that the actual participation of Americans in the
ocean-carrying trade of the world is not to be estimated by the frequency
or infrequency with which the Stars and Stripes are to be met on the
ocean. It furthermore gives some indication of the rapidity with which the
American flag would reappear if the law to register only ships built in
American yards were repealed.

Indeed, it would appear that the law protecting American ship-builders,
while apparently effective for that purpose, has destroyed American
shipping. Our ship-building industry has attained respectable and even
impressive proportions; but our shipping, wherever brought into
competition with foreign ships, has vanished. One transatlantic line only,
in 1902 displayed the American flag, and that line enjoyed special and
unusual privileges, without whic