gave much attention to this subject.
You have convinced me and this bill should be passed at once,
and I will make the motion." Several senators from the States
affected asked for delay in order that they might deliver speeches
for local consumption. The psychological moment passed and that
legislation could not be revived until ten years afterwards, and
then in a seriously modified form.

I worked very hard for the American mercantile marine. A subsidy
of four million dollars a year in mail contracts would have been
sufficient, in addition to the earnings of the ships, to have given
us lines to South and Central America, Australia, and Asia.

Shakespeare's famous statement that a rose by any other name
would smell as sweet has exceptions. In the psychology of the
American mind the word subsidy is fatal to any measure. After
the most careful investigation, while I was in the Senate, I
verified this statement, that a mail subsidy of four millions
a year would give to the United States a mercantile marine which
would open new trade routes for our commerce. This contribution
would enable the ship-owners to meet the losses which made it
impossible for them to compete with the ships of other countries,
some having subsidies and all under cheaper expenses of operation.
It would not all be a contribution because part of it was a
legitimate charge for carrying the mails. The word subsidy,
however, could be relied upon to start a flood of fiery oratory,
charging that the people of the United States were to be taxed
to pour money into the pockets of speculators in New York and
financial crooks in Wall Street.

We have now created a mercantile marine through the Shipping Board
which is the wonder and amazement of the world. It has cost about
five hundred millions. Part of it is junk already, and a part
available is run at immense loss, owing to discriminatory laws.
Recently a bill was presented to Congress for something like sixty
millions of dollars to make up the losses in the operations of our
mercantile marine for the year. While a subsidy of four millions
under private management would have been a success but was vetoed
as a crime, the sixty millions are hailed as a patriotic contribution
to public necessity.

A river and harbor bill of from thirty to fifty millions of dollars
was eagerly anticipated and enthusiastically supported. It was
known to be a give and take, a swap and exchange, where a few
indispen