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.
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 fostering of the trade or commerce of
the nation granting it.
Pages:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25