Progress and the adoption of modem equipment and machinery shapes the destiny of our future development. The cause of the disintegration of the railroads of our country can be attributed to the competition that has come through trucks. through busses. through automobiles. through commercial aviation. through inland waterways. besides our intercoastal merchant marine. We have given subsidies to agriculture through bounties. to industry through the tariff. to banks through the operation of the Federal Reserve Bank System. to labor through restricted immigration. to various States through flood control. and countless other subsidies. To develop an adequate American merchant marine that will be used for national defense. we must aid in the development of intercoastal shipping by subsidizing all modernbuilt intercoastal ships. which ships could be used in time of war for the defense of the Pacific coast where the great American battleships. cruisers. destroyers. and submarines are found today to protect our interests in the Pacific Ocean. Mr.
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