This was to be furnished in three equal payments
yearly (1891, 1892, 1893), and was to be repaid in five equal payments
of three hundred thousand florins each, beginning in January, 1902. The
company's ships were to be exempted from consular fees, "the same as
vessels of the imperial navy"; and were to be at the disposal of the
naval and military departments in case of war. All the officials of the
company were to be Austrian subjects, "naval officers either active or
retired to be given the preference"; and there was to be an
administrative committee of eight members, the president appointed by
the Emperor and two other members by the ministry of commerce, the
intention of this provision being to give the Government control over
the company's affairs.[DG]
The general subsidy law of 1893 (November 28) was the outcome of the
deliberations of a special Parliamentary committee appointed that year;
and its declared object, as set forth in this committee's report, was
"to put a stop to the decline of our merchant fleet, to allow it to cope
with foreign competition, and to secure for the inhabitants of our coast
needed employment and profits in maritime pursuits."[DG] Three years
before (1890), with the same object in view, a preliminary step had been
taken in the exemption of all iron and steel steam and sailing ships
from trading and income taxes while engaged in ocean voyages.
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