The navigation subsidy per gross ton for every
thousand sea miles sailed beyond the Suez Canal and the Strait of
Gibraltar was increased to 0.80 lire, the rate to be diminished by ten
centimes for steamers and fifteen centimes for sailing-ships every three
years. An important addition was the reenactment of the customs rebates
on shipbuilding materials. This law was also to be in force ten
years.[DS]
In 1900 (November 16) a royal decree was issued modifying the law of
1896 in several particulars. No bounty was hereafter to be allowed to
vessels built in Italian yards for foreigners. The customs drawbacks
were abrogated, and in place of them was granted a bounty of five lire
per quintal of metal used in repairs. A bounty of fifty-five lire per
gross ton was offered for iron or steel steamers showing a speed of
above fifteen knots; fifty lire, for steamers speeding twelve to fifteen
knots; forty-five lire, for steamers or sailing-ships with speed below
twelve knots; and thirteen lire per net ton for modern hulls. The
navigation subsidies per gross ton per thousand miles, were thus fixed:
for steamers, forty centimes up to the fifteenth year after
construction; for sailing-ships, twenty centimes up to the twenty-first
year after construction.
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