Speech #480051452

I do not believe that it is possible in the prostrate condition of our merchant marine. under our treaty obligations. to build up an ocean carrying trade by any system of subsidies. Subsidy in any form under our tariff laws simply means an increase of the burdens of taxation directly or indirectly on the goods which our people have to carry to market and sell. and on those they buy abroad with the proceeds of what they export. in order to give the tax thus collected to a few people to help sustain a losing or unprofitable business. Can anything be more unreasonable than to require the Western farmers and their laborers to pay increased taxes on all the goods they are compelled to have. andare obliged to take in exchange for the wheat they must send abroad and sell in sharp competition with the pauper labor of Russia and India. in order to enrich a lw American shipbuilders who have already a monopoly of our coastwise trade. with free coal fbr their ships. which is denied to the laborer on shore? If the present depression in the price of wheat. which it costs 65 cents a bushel to raise here while it costs 38 cents in India. causes the men of the West to inquire how more taxation to give subsidies to shipbuilders is to benefit them by still further diminishing the purchasing power of their wheat product. it may prove a blessing in disguise. They will learn that their American industries. upon which all others depend. are loaded downwith cunningly devised burdens. and while their pockets are being picked they are even now singing pucans of praise to the jugglers who are robbing them.