g any substantial benefit. It is to be
observed that Germany, France, and Italy all have attempted to build up
their own shipping by adopting the policy of free ships, have failed in
the experiment, have abandoned it, and have adopted in its place the
policy of subsidy.

2. It has been proposed to establish a discriminating tariff duty in
favor of goods imported in American ships--that is to say, to impose
higher duties upon goods imported in foreign ships than are imposed on
goods imported in American ships. We tried that once many years ago and
abandoned it. In its place we have entered into treaties of commerce and
navigation with the principal countries of the world, expressly agreeing
that no such discrimination shall be made between their vessels and
ours. To sweep away all those treaties and enter upon a war of
commercial retaliation and reprisal for the sake of accomplishing
indirectly what can be done directly should not be seriously considered.

3. There remains the third and obvious method: to neutralize the
artificial disadvantages imposed upon American shipping through the
action of our own government and foreign governments by an equivalent
advantage in the form of a subsidy or subvention. In my opinion this is
what should be done; it is the sensible and fair thing to do. It is what
must be done if we would have a revival of our shipping and the desired
development of our foreign trade. We cannot repeal the protective
tariff; no political party dreams of repealing it; we do not wish to
lower the standard of American living or American wages. We should give
back to the shipowner what we take away from him for the purpose of
maintaining that standard; and unless we do give it back we shall
continue to go without ships. How can the expenditure of public money
for the improvement of rivers and harbors to promote trade be justified
upon any grounds which do not also sustain this proposal? Would any one
reverse the policy that granted aid to the Pacific railroads, the
pioneers of our enormous internal commerce, the agencies that built up
the great traffic which has enabled half a dozen other roads to be built
in later years without assistance? Such subventions would not be gifts.
They would be at once compensation for injuries inflicted upon American
shipping by American laws and the consideration for benefits received by
the whole American people--not the shippers or the shipbuilders or the
sailors alone, but