Foreign-built iron or steel tonnage earning the bounties
increased from 43,787 tons to 91,170 tons, gross; and wooden or
composite tonnage increased from 1,220 tons to 9,799 tons, gross.[BS] In
1891 the law which had then reached its limit of ten years was extended
for two years. Doubting its renewal shipowners had sometime before
ceased to increase their fleets.[BS]
These results were variously pronounced unsatisfactory, and a revised or
a new law was called for, with more and higher bounties. Owners of
wooden sailing-ships were especially clamorous for larger benefits. They
argued that sailing-ships being much slower than steamers should
therefore receive higher mileage subsidies in order to compete on equal
terms with steamships.[BU]
A new law was enacted in 1893 (January 30). This act cut off bounties to
foreign-built ships, and granted increased construction premiums. The
construction subsidies were again declared to be given as "compensation
for the charges imposed on shipbuilders by the customs tariff"; the
navigation bounties, "by way of compensation for the burden imposed on
the merchant marine as an instrument for recruiting the military
marine." The construction subsidies were not to be definitely earned
till the ships were registered as French; and by ships built in France
for foreign mercantile fleets, not till they had been delivered.
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