“This fact is now so well understood, that I think there is no hazard in saying that a large majority of the best minds of all parties are convinced that the experiment of trying to augment our merchant marine by a policy calculated to destroy our ship-building industry would not be conducive to the general public interests.
“The other mode of remedy advocated has been that of adopting, in behalf of our own shipping, a policy similar to the one which has produced such striking results elsewhere; that is to say, public encouragement to the ownership and operation of American-built vessels in the foreign trade. This subject has for many years claimed a large share of the attention of Congress, commercial organizations, and the press. Its discussion has taken a wide scope, involving several exhaustive inquiries by congressional committees, numerous petitions and resolutions from boards of trades and chambers of commerce, with almost innumerable papers in the public prints, and speeches in our public halls; the whole forming what may be called the ‘Literature of our Merchant Marine.’ Its volume is so vast, that but the barest reference to its details can be made here. Suffice it to say, that it covers every conceivable point at issue; and it has been so universally published, that no person of ordinary intelligence and education can have excuse for ignorance or misinformation on the subject.
“The results of this agitation and discussion have been bills in Congress from time to time, providing for a more liberal and enlightened policy on the part of the government toward the national merchant marine. Some of these bills proposed special compensations to particular lines for carrying the mails. Such bills have failed in consequence of the objection that they involved the principle of special legislation. Other measures proposed a general bounty based upon tonnage and distance actually travelled in foreign trade. This plan at the outset seemed more popular than any other, and there was at one time strong probability of its enactment into law. But it finally failed, partly on account of clashing of diverse interests, and partly by reason of ‘party exigencies,’ real or supposed, in the House of Representatives. It is hardly pertinent at this time to point out the benefits that would have accrued, directly and incidentally, to every branch of our national life and industry, from a tonnage law properly administered. I have never hesitated, and do not now hesitate, to declare that ten years of its operation would result in placing our merchant marine in the foreign trade on a footing second only to that of Great Britain in amount, and vastly superior to it in character and quality of vessels. And I still hope to see such a policy adopted at no distant day.