MANUAL OF SHIP SUBSIDIES

AN HISTORICAL SUMMARY OF THE SYSTEMS OF ALL NATIONS

BY

EDWIN M. BACON, A.M.

1911

CONTENTS

PREFACE

The intent of this little book is to furnish in compact form the history of the development of the ship subsidies systems of the maritime nations of the world, and an outline of the present laws or regulations of those nations. It is a manual of facts and not of opinions. The author's aim has been to present impartially the facts as they appear, without color or prejudice, with a view to providing a practical manual of information and ready reference. He has gathered the material from documentary sources as far as practicable, and from recognized authorities, American and foreign, on the general history of the rise and progress of the mercantile marine of the world as well as on the special topic of ship subsidies. These sources and authorities are named in the footnotes, and volume and page given so that reference can easily be made to them for details impossible to give in the contracted space to which this manual is necessarily confined.

E.M.B.

BOSTON, MASS.
September 1, 1911.

Manual of Ship Subsidies

CHAPTER I

INTRODUCTORY

The term subsidy, defined in the dictionaries as a Government grant in aid of a commercial enterprise, is given different shadings of meaning in different countries. In all, however, except Great Britain, it is broadly accepted as equivalent to a bounty, or a premium, open or concealed, directly or indirectly paid by Government to individuals or companies for the encouragement or