The plans of the Shipping Board for handling the 1,400 Government-owned merchant ships were finally made public. Following a two-hour conference with President Harding a formal statement was issued outlining a policy for the next year. The Board is faced by a difficult situation. Without the Ship Subsidy, the operation of American vessels is unprofitable. On this account there is little market for Government ships. The present system of "allocating operations under managing agents" (i. e., turning ships over to private operators, the Government guaranteeing a necessary return) involves an annual...
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