REPORT OF AMERICAN MERCHANT MARINE COMMISSION. 59
Ameriean trans-Atlantic mail payments.
Voagr
1889......
1890...
ROL...
892... |
B05 cain
LL
896...
1897...
1808...
1899... _.
1900......
1901...
VO us
1908. .._..
Total
International
Navigation
American)
North German
Lloyd
(German).
$8,642.93
41, 631. 84
25,961. 00
43,965. 85
103, 029. 31
192, 405.75
223’ 900. 48
395, 043. 38
766, 507. 66
580, 809. 09
85, 673. 60
347,278. 40
529,101. 29
562, 184. 00
560. 872. 00
}188, 633.19
171, 546. 81
78,108. 86
172,165. 69
152,418.55
157, 764. 90
15, 599. 56
120161. 74
07,522. 30
88, 029. 67
95.153. 19
00, 823, 54
80,141. 8”
83,572. 1¢
111.732. 00
567 706.58 | 1.915. 000.09
Hamburg
American
‘Clorman
Cunard
‘British?
114, 868. ¢”
20,424. 1
29,120. 4
10,679. 5.
38,361. 37
15,311. 82
11,119. 24
0, 030. TE
2%, 296, 87
7,431.0
3861. 0°
3,137. 11
32, 750. 6
55, 092. 4¢
10° 905. 21
$101, 818. 32
88, 673.52
77, 349.50
92; 919. 80
105, 019. G6
131, 062. 12
145, 859. 07
42, 008. 27
44,140.26
72, 91%. 34
183, 846.20
185,417.73
213, 772. 80
221,224, 07
241 $24 10
511. 440.53 | 2.247.663. 86
White Star
Rriticl)
§12, 875. 97
27.106. 00
52,471. 04
59, 090. 06
2 918.40
7176.13
1,879. 99
7,824. 51
5,974.21
3, 535. 64
31, 873.74
187820. 7
“1,591.2
51,010. 9
Al Quq oF
785 652. bh
Cie. Géndé-“ale
Trans
Yip
{ Freneh)
"14, 959, 20
5, 442.9:
24,749. 1C
8, pd. 0F
4,933, 8
2,959.7"
29, 229. 5
2) 506. 8
5, 856. 2
31, 679. 88
37,202. 22
27,987. 67
24, 842. 91
20,184, 82
3) Oxp a
441. 624. 79
Total.
$351, 298. 30
374,825.23
397,759. 97
447, 375. 01.
525, 976. 09
606, 60. 50
607, 587. 86
940,775. 53
106, 097. 53
954,403.76
877, 639. 98
1,045, 515, 18
992,199. 96
, 093, 077. 52
11117 75 ag
11. 469, 038. 40
The only American trans-Atlantic mail contract now in force was made with the
American Line for ten years, under the act of 1891. Under that contract the maximum
annual subsidy is $757,000 for four steamers, or on the average $189,000 a
steamer. As already shown, the Cunard contract is so arranged that the company is
assured that the Government will meet the entire first cost, including interest, of the
two new steamers. Two new steamers were built in the United States under the
American contract in 1893-1895, at a cost each of $2,500,000 in round numbers.
During the ten years of the American contract each of these steamers, if in full operation,
might thus draw $1,890,000. If the company undertook, as does the Cunard
company, to repay the first cost in 20 annual installments, during the ten years of the
contract $1,250,000 must be set aside for the purpose. The British Government
requires only 2§ per cent interest from the Cunard company; the American company
pays b per cent interest on its mortgage bonds. At this rate (assuming it were proposed
to retire the bonds in twenty years) the interest charges for the ten years of
the contract will amount to $937,500. This sum, added to $1,250,000 set apart for
amortization, amounts to $2,187.500 paid out. compared with $1.890.000 subsidy
received.
At the end of the ten-year American contract the company’s payments for first cost
and interest are thus nearly $300,000 more than the maximum subsidy receivable,
while the company has still to meet half of the first cost and interest thereon of a
steamer adapted virtually to one line of trade. The disparity between the twentyyear
Cunard contract and the ten-year American contract is lessened by the fact that
Congress admitted two British-bullt steamers to American registry in order to give
life at all to an American trans-Atlantic mail system. It is increased, on the other
hand, by the higher wages paid on the American than on the British lines. The
four steamers of the American Line in 1895 were unequaled by the four steamers of
any foreign steamship company. Since that time the German trans-Atlantic mail
fleet has considerably surpassed it. In October, 1905, the American contract will
expire. Soon after that time the new Cunard contract will go into operation. In
the reports of the Bureau for several years past a revision of the ocean mail act of
1891 has been suggested in the interest of the American merchant marine and of
American shipbuilding. Such a revision obviously concerns the Post-Office Department
and the Navy Department, as well as the Department of Commerce and Labor.
The new Cunard contract suggests the desirability of action upon this subject in such
a manner as shall meet the requirements of the three Departments concerned and
the reasonable ambitions of the American people. The act of 1891 has failed to
establish an American mail line to South America below the Caribbean.
