"A Liverpool cablegram received yesterday says: 'At the meeting of the stockholders of the Cunard Steamship Company to-day the chairman announced that the Government had granted the company an annual subvention of $85,000 for a period of five years for the 'carrying of the mails.'
"Details of the agreement entered into between the British Admiralty and the owners of the White Star and Cunard companies, by which certain of their vessels are placed at the disposal of the Government on specified terms, are contained in a late parliamentary paper. The White Star Line agrees to hold at the disposition of the Government for purchase or hire, at the option of the Admiralty, to be exercised from time to time during the continuance of the agreement, the following vessels: Britannic, value £130,000; Germanic, £100,000; Adriatic, £100,000; Celtic, £100,000. In the event of purchase the foregoing prices were to be held as the values of the vessels on January 1, 1887, plus 10 per cent. for compulsory sale, less an abatement of 6 per cent. per annum on the depreciated annual value for the period that might elapse between January 1, 1887, and the date of purchase by the Government. In the event of charter by the Admiralty the rate of hire of the before-mentioned vessels was fixed at the rate of 20s. per gross registered ton per month, the owner providing the crew, or at the rate of 15s. per gross registered ton per month, the Admiralty finding the crew, all risks of capture and of hostilities being assumed by the Admiralty. The company has determined to build one or two vessels of high speed and of such a type and speed as will render them specially suitable for service as armed cruisers, and in accordance with the plans and specifications submitted and approved by the Admiralty. In consideration of this the Admiralty will have to pay to the company an annual subvention at the rate of 15s. per gross registered ton per annum. On February 8, the Admiralty accepted similar proposals made by the Cunard Line in respect to the following vessels: Etruria, value £310,000; Umbria, £301,000; Aurunia, £240,000; Servia, £193,000; Gallia, £102,000—a subvention of 15s. per gross registered ton per annum, to be paid to the company on account of the Etruria, Umbria and Aurania during the continuance of the postal contract, and in the event of the termination of that contract before these three vessels received five years' payment, the company to be entitled to receive for the balance a subvention at the rate of 20s., the five vessels being still held at the disposition of the Government. In the event of the Cunard Company building new vessels for the mail service, they will submit the plans to the Admiralty for approval.
"The subvention will amount to about £6,500 for each of the new vessels of the White Star Line, so long as they carry the mails, or £8,500 should the mails be withdrawn. The annual charge for the retention of the Cunarders Etruria, Umbria and Aurania is stated at £5,400 each.
The Admiralty announce that they are ready to make the same arrangement as with the White Star Company for the first ten steamers that may be offered by any of the British steamship companies."
The following letter from Admiral D. D. Porter shows conclusively the feeling which must have existed in Naval circles upon the subject of the revival of the American Merchant Marine. The letter was addressed to a Mr. Aaron Vanderbilt, representing the American Shipping and Industrial League and was published in the New York World and other journals, some time during the year 1888.
DEAR SIR: I received your letter and pamphlet this morning in relation to American shipping. It is a matter in which I am greatly interested. I only wish I really had some influence in this country to help forward measures for the advancement of our mercantile marine, without which we can never be a great naval power. I have written a great deal on the subject and the files of the Senate have now many letters of mine in favor of granting subsidies to ocean steamships, in order to open lines wherever they could be run to advantage. Indeed, I have been so persistent in this matter ever since the close of the civil war that I ran the risk of being considered queer—for that is the term people apply nowadays to men of progressive ideas, whose opinions come in conflict with those of persons who are altogether guided by local prejudices.
I have written a good deal for the American Protectionist on the subject, also a long article for the Chicago Inter Ocean, covering one side of the paper, which had an extensive circulation in the West. I wrote so much that I was afraid I might come under the head of "penny-a-liner," but all to no purpose, as the cause didn't seem to advance an inch.
This country is a young giant, full of resources, overflowing with wealth, and the people themselves full of progressive ideas, yet you see how difficult it is to get anything done even for the defense of our coast and great cities.
With all our wealth and enterprise we are, owing to the force of circumstances over which our people seem to have no control, Bourbons up to the hub, learning nothing and forgetting nothing.
The nation that can put the most ships and the best ships on the sea will be the one that can set the world at defiance. No nation can put its commerce on its bottom again, after it has been broken up as ours has been, without subsidies, which are considered by some people as opposed to our institutions, although I myself cannot see it: but subsidies to steamships that must carry our products over the world and bring back other products in return must help every industry in the country. Every State in the Union is interested in having our commerce re-established, no matter at what cost. Think what an impetus the establishment of great lines of steamships would give to our iron and steel interests. How many thousands of mechanics who are now out of employment would again enjoy ample compensation for their labor. What rejoicings there would be throughout the land at such an event. How the cotton and hemp manufactories would be crowded with workers. Think how many million yards of canvas would be spread upon the ocean.